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Cryptocurrency News, Ripple XRP News

David Schwartz confirms xCurrent v4.0 is live, brings xRapid adoption closer

What started off as a fairly inconspicuous Twitter response, quickly confirmed some quite significant news for Ripple. David Schwartz, Ripple CTO explained to a user why his account with Union Bank was shut down, a “few years” ago. Schwartz decided to sell off his 40,000 Ethereum tokens when the price hit $1.00. This may have seemed like a very smart and profitable move at the time, however, 2 years later, with the value of one token peaking at around $1600…Schwarz’ decision would not havefelt so great.

The thread then continued, with another user asking the CTO what the current state of Ripple’s xCurrent¬†product was. Schwartz confirmed that the product was indeed live and they were in the “complex” process of switching over users. What makes this upgrade especially significant¬†is the support for xRapid, Ripple’s liquidity-on-demand payment settlement product, which uses the XRP token.

Due to the different architecture of v4.0, the upgrade would not be entirely straightforward, however, all users will be switched over in due course. This is a very important update due to Ripplenet’s well publicised 200+ partners, bring brought one step closer to xRapid implementation.

Ripple image licensed via Shutterstock

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