The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Flare Says XRP Ledger Will Enter $10 Billion Market With Launch of Smart Contract Integration

by Daily Hodl Staff
November 2, 2020
in Ripple and XRP

A senior executive at the crypto startup and Ripple partner Flare says the XRP Ledger is poised to dive into a new realm with the launch of smart contract integration.

In a new TokyoCrypto interview, Flare’s head of business development Mohamed Taysir says the company’s effort to bridge smart contracts and XRP will open the door to a multi-billion-dollar market.

“Why that is very exciting is because it opens up a lot of possibilities to a big, big market that is just sitting there with a huge market value of $10 billion today.”

As for what makes Flare unique, Taysir explains how it adds smart contract functionality to the fourth-largest crypto asset.

“Flare is a new network. So we’re the first Turing complete FBA (Federated Byzantine Agreement) network and we’re using the Ethereum virtual machine for our smart contracts…

We added the Ethereum virtual machine so that we can bring in at launch one of the protocols that we’ve been working on is the FXRP or the Flare XRP, basically. It’s a trustless representation of XRP on the Flare network so that it can utilize smart contracts. In short, we’re basically adding smart contract functionality that can run with XRP.”

Taysir also offers his take on how gamers will eventually rely on blockchain and non-fungible tokens (NFTs).

NFTs are special cryptographic tokens that serve as verifiable proof of ownership of a particular digital asset such as gaming items or collectibles. Unlike crypto assets such as Ethereum (ETH) and Bitcoin (BTC), NFTs are assets that are not interchangeable. Each non-fungible token holds the identifying characteristics of a certain asset stored in the blockchain.

With smart contract capabilities, XRP can enter the world of NFTs, which Taysir says has the potential to be big.

“It’s not just going to catch on. I think blockchain and NFTs are just going to be a part of the new ecosystems of the VR world because it’s one of the ways you can safely manage ownership over digital assets within that space essentially.”

In addition, Taysir highlights that Flare’s smart contract functionality can also be integrated with other non-Turing complete cryptocurrencies like Bitcoin.

[Primis]

“So essentially with Flare what is super exciting is that what we’re doing with XRP transcends just XRP. It can be done with any of the non-Turing complete assets that lie out there. So we’re starting with XRP because it’s a big community, it’s well developed, and it’s really big value.

But also there are others like 75% of the crypto world, like the actual value of the crypto lie in non-Turing complete assets ie BTC, Stellar, Litecoin. So what we’re doing with FXRP can be generalized into an F asset that can be issued to run with smart contracts on Flare.”

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/camilkuo

Submit a Press Release

Industry Announcements

  • Ottochain Homage to EVMOS and Ethereum Layer Two
    September 21, 2023
  • Algorand Foundation Announces Build-a-Bull Hackathon in Collaboration With AWS
    September 20, 2023
  • OKX Achieves SOC 2 Type II Certification, Demonstrating Its Industry-Leading User Safety, Security and Compliance Standards
    September 20, 2023
  • Meme Fans Eye El Hippo (HIPP) As Floki Inu (FLOKI) Price Dips
    September 19, 2023
  • Dexalot Unveils SimpleSwap and SimpleView Features for Enhanced User Experience
    September 19, 2023
  • Xsolla Launches Mall, an Online Destination for Video Games
    September 18, 2023
  • BlockchainSpace Debuts Polygon-Based Community Rewards Platform, YEY, With Philippine Telco Giant at FIBA 2023
    September 14, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$26,624.13
$26,624.13
1.49%
Ethereum
$1,593.91
$1,593.91
1.64%
Cardano
$0.245436
$0.245436
1.53%
XRP
$0.509393
$0.509393
0.22%
Dogecoin
$0.06167
$0.06167
1.44%

Spotlight

  • Analyst Who Nailed 2022 Crypto Bottom Unveils New Long Position on Bitcoin – Here Are His Targets
    September 15, 2023
  • Top Trader Says He’s Reaccumulating One Solana-Based Altcoin That’s Up Over 500% in Three Months – Here’s Why
    September 15, 2023
  • Bitcoin Primed To Surge Over 70% in 2015-Style Price Jump, Says Michaël van de Poppe – Here’s the Timeline
    September 15, 2023
  • Trader Says Bitcoin Just Flashed a ‘Great Sign’, Predicts One Top-10 Altcoin Will Go Parabolic in Coming Months
    September 15, 2023
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash • Financeflux •
Industry Announcements

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl