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.
Right after my terrible decision to sell 40,000 ETH (all I had) at $1. Probably that transaction was the suspicious one.
— David Schwartz (@JoelKatz) May 4, 2019
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.
4.0 is live. We're working to get all customers upgraded, but it's a complex process. Multihop, xRapid support, much easier peering, and a much easier customer integration process are the major new features.
— David Schwartz (@JoelKatz) May 6, 2019
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