- RippleX’s XRPL Accelerator, a development initiative for XRP Ledger, has officially commenced with nine start-ups in its initial cohort.
- The Accelerator program intends to support these startups with a $50,000 grant, mentorship from industry veterans, and other essential resources to fuel their growth and success.
RippleX, a critical driving force behind the XRP Ledger (XRPL), has marked a significant milestone with the formal launch of its XRPL Accelerator program. The scheme, initially announced three months ago, now heralds the start of its inaugural session, ushering in a promising future for innovative projects on the XRP Ledger.
The XRPL Accelerator Program – Catalyzing Growth and Innovation
Unveiled in April, the XRPL Accelerator is a groundbreaking 12-week initiative purposed to provide support and resources to innovators within the XRPL ecosystem. This encouraging step elicited a significant response, with numerous projects throwing their hat in the ring.
After an extensive selection process, nine groundbreaking projects have been chosen to be part of this premiere cohort. These startups, namely VerifyED, xrp.cafe, Chimoney, Ap0cene, CornerMarket, GemWallet, Kudos, Droplinked, and NIR-Watchdog, are set to reshape the XRPL landscape.
As a part of this endeavor, each selected venture will receive a $50,000 grant to bolster their initiatives. Besides financial support, the program also offers invaluable insights from leading industry mentors, the opportunity to interact with potential investors and partners, and access to other necessary resources. This initiative equips early-stage teams with essential skills and benefits, allowing them to expedite their efforts to deliver value and utility.
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Conducted virtually with an on-site demonstration component, the program is poised to culminate with a demo day set for August 21–25 in New York City. The demonstration day will showcase the progress made by the selected startups, marking a significant milestone in the history of XRPL’s ecosystem.
Simultaneously, within the XRPL ecosystem, Evernode, a Layer-2 protocol, is making strides with a recently published standard proposal, the EVS-01d. The proposal is set to enhance node functionality on HotPocket, improving communications between nodes during transaction processing. This upgrade signals promising development for XRPL and indirectly, XRP, which has been grappling with legal issues.
As these positive fundamentals unfold, the broader XRPL ecosystem is likely to witness a surge in its value and utility, offering a solid foundation for XRP’s future growth. Currently, XRP stands at $0.4647, reflecting a 1.32% dip over the past 24 hours.
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