Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 10-22-24
Good Afternoon Dinar Recaps,
30M METAMASK USERS CAN NOW ACCESS XRP LEDGER
Blockchain firm Peersyst Technology has launched an XRP Ledger (XRPL) Snap, which will allow over 30 million Metamask users access to the blockchain.
The software firm announced on Monday that Metamask users can now access the XRPL network and harness its properties through the self-custody wallet. Peersyst noted that the latest addition offers users the same functionality available on the XRPL mainnet and testnet.
For context, a Snap application allows non-Ethereum Virtual Machines (EVMs) access to integrate with the Metamask wallet. Notably, Metamask is a cold wallet that interacts only with the Ethereum network by default.
However, certain blockchains could bridge users to other chains such as Ethereum with innovations like Snap, as Peersyst’s XRPL Snap intends to achieve. This latest feature provides easy accessibility to the XRPL network, further expanding the ecosystem’s adoption.
Same Functionality, Different Access Point
Notably, using XRPL through Metamask provides the same functionality as directly accessing the blockchain. Per Peersyst, users can open XRPL wallets using the Metamask Snap.
Given that an XRPL account requires at least 10 XRP to be activated, the Snap feature allows the purchase of the token through Transak, an integrated on-ramp payment method. Subsequently, users can also purchase and hold XRP and non-fungible tokens (NFTs) through the feature.
Furthermore, the Metamask Snap allows users to view transaction details and history, as well as send and receive XRP. Developers can also integrate the feature into their decentralized application for extended visibility.
Integration Boost XRPL Adoption
The latest addition mirrors the growing adoption of the XRPL network. With Metamask’s over 30 million users having access to the blockchain, XRP enthusiasts have tipped the integration to increase user influx and grow liquidity.
Meanwhile, discussions about adding smart contracts to the XRPL network are also underway. Ripple announced in September that it was exploring a dual approach to introduce this feature.
@ Newshounds News™
Source: The Crypto Basic
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CHAINLINK INTRODUCES CCIP PRIVATE TRANSACTIONS TO ENABLE COMPLIANT BLOCKCHAIN INTEROPERABILITY
▪️Chainlink has launched CCIP Private Transactions on its Blockchain Privacy Manager, a feature that has the potential to accelerate institutional blockchain adoption.
▪️ANZ and Chainlink have demonstrated how financial institutions can use Chainlink’s CCIP to enable cross-chain settlement of tokenized assets.
Chainlink, the decentralized oracle network has introduced its CCIP Private Transactions to the crypto ecosystem. This is a feature that facilitates Private Transactions across blockchain networks.
Australia and New Zealand Banking Group (ANZ) are among the first institutions to pilot this security solution for settling tokenized real-world assets (RWA) under the Monetary Authority of Singapore (MAS) Project Guardian initiative.
The Blockchain Privacy Manager will allow financial institutions to play a critical role in the adoption of tokenized real-world assets by serving as asset issuers, custodians, and gateways for their customers to seamlessly access and trade these digital assets.
Key Advantages of Chainlink’s CCIP Private Transactions
A case study done by ANZ and Chainlink revealed that past interoperability solutions have often been limited due to their inability to provide broad support for both public and private blockchains.
Chainlink’s CCIP Private Transactions, powered by the Blockchain Privacy Manager, resolves this by ensuring end-to-end privacy. This allows institutions to meet strict regulatory requirements for both private-to-private and private-to-public blockchain interactions.
Additionally, the CCIP network allows traditional finance (TradFi) and enterprise systems to connect with private blockchains while selectively revealing only the necessary on-chain information for each transaction, addressing a major privacy issue in the blockchain industry
The Blockchain Privacy Manager keeps sensitive transaction details such as data, token amounts, and counterparties completely private through an advanced on-chain encryption and decryption protocol. Only authorized parties, such as compliance authorities, can access this data, which helps protect against third-party and adversarial breaches. Institutions can define specific privacy rules for their transactions, ensuring that all parties involved have appropriate access while maintaining strong protections against unauthorized access.
In other developments, Mountain Protocol recently integrated its USDM stablecoin with Chainlink’s CCIP, improving security and efficiency for token transfers across Ethereum, Arbitrum, and Polygon POS. This partnership enhances USDM’s interoperability and offers users a more secure way to transfer value between different blockchain ecosystems. After the partnership, LINK underwent a vertical ascent. The Chainlink price soared 2.61% to $11.41 on October 18.
Additionally, as CNF reported, Chainlink and eight market infrastructures and financial institutions have disclosed that they have found a successful solution to a decade-long challenge.
@ Newshounds News™
Source: Crypto News Flash
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MASTERCARD UNVEILS GROUNDBREAKING INNOVATION FOR CROSS-BORDER PAYMENTS: IS XLM OR XRP INVOLVED?
▪️The MasterCard payment solution provides value-added services such as risk control and fraud analytics and is compatible with current correspondent banking arrangements.
▪️While Ripple’s XRP has been acknowledged for its cross-border capabilities, Mastercard did not include XRP in this latest solution.
@ Newshounds News™
Read more: Crypto News Flash
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🌱BANK SEIZURE ALERT: IS YOUR MONEY SAFE? SOWT | Youtube
@ Newshounds News™
Source: Seeds of Wisdom Team RV Currency Facts
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Seeds of Wisdom Team RV Currency Facts Youtube and Rumble
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