In a tweet, Ripple’s chief technology officer (CTO), David Schwartz confirms that Ripple’s xCurrent 4.0 is live. This gives an ability to Ripple’s 200 plus customers to integrate XRP-powered xRapid.
xCurrent, an enterprise software product by Ripple Lab Inc., helps fintech in international money transfer service with the end-to-end tracking. The technology ensures banks/ finance enterprises to process cheaper and faster transactions with an ability to trace it. xCurrent 4.0 is an up-gradation to the existing technology which let Ripple’s current customers employ Ripple’s yet another technology called xRapid. In essence, xRapid underlines with Ripple’s native cryptocurrency XRP which means that Ripple’s client with the implementation of xCurrent 4.0 will be able to employ xRapid, powered by XRP.
Although the upgrade is now live, Mr. Schwartz states that it is a complex process. Nevertheless, they’re still working on way to let all Ripple customers upgrade to it and use it. In his words;
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
While he still continues the conversation with XRP community, he has been asked about its further mechanism. As a response, Schwartz claims that it will not be straightforward – rather, it would be a bit painful, ‘requiring changes to customer middleware’.
Unfortunately, because the architecture is so different, the upgrade can be a bit painful, requiring changes to customer middleware. We are learning a lot about maintaining enterprise software for FIs and keep working hard to improve our processes.
Moreover, he says that the upgrade is not mandatory for customers;
No. But having a mix of majot versions can make features work inconsistently. It’s like IPv4 and IPv6. They can interoperate, but until IPv6 takes over 100%, there will always be pain points for people who don’t run both, and also for people who do run both.
— David Schwartz (@JoelKatz) May 6, 2019
Schwartz’s one-to-one conversation with Twitterati helps clarify many doubts of XRP community – the news of xCurrent’s support on XPR based xRapid was well received.
Nevertheless, as recently confirmed by Ripple’s global head of banking, Marjan Delattine at the Paris Blockchain week Summit– so far 10 companies are employing XRP across their cross-border payment settlement services.
Despite the lower value trade, XRP is in a notice of crypto & fintech players across the world. The underlying technology such as RippleNet, xRapid, xCurrent is as well on way forward to greater adoption.
What’s your take on xCurrent 4.0 .? Let us know in the comment below
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