On August 26th, Ripple became a partner (XRP), Flare networks, uncovered Details of the proposal a new bridge that would connect XRP to the Ethereum (ETH) blockchain. The CEO of Ripple, Brad Garlinghouseand the XRP military advocated the first two-way bridge to unite ecosystems.
Via the “trusted” bridge, XRP can be used on the Flare network – known as FXRP – within the Ethereum network while “Providing a scaling platform for Ethereum tokens and applications”.
Flare is a network that integrates Ethereum Virtual Machine (EVM) to provide advanced smart contracts on the XRP network.
The proposal, which must be approved by the Ripple Foundation, It will be the group’s first governance proposal and has largely received a positive response from the communityas a Twitter user Tristan the one commented: “As soon as it’s done. I’ll move all of my apps and smart contracts.”
But some users like it Jgrim, they ask when a connection with Ethereum is really necessaryand said that “it will only slow down the flare network.” Ethereum fees have hit $ 99 recently for some DeFi users due to network congestion.
Brad Garlinghouse, CEO of Ripple Flare offers users the best of both worlds::
“From my point of view, Flare combines the best of XRP (VERY fast turnaround), Ethereum (smart contracts) and Avalanche (for the consensus) which is helping to expand the usefulness of XRP and allowing developers to create smart contracts like new use cases Loans and Defi “.
The Flare Network’s collaboration with Ripple began last November and was funded by Ripple’s development arm Xpring.. In February of this year, Xpring announced its intention to develop a bridge between the two networks and sponsored three challenges during the ETH Denver Hackathon, all of which revolved around a bridge between XRP and Ethereum.
The CEO and Founder of Flare, Hugo Philiontrust this new proposal as there are already “several projects” that serve as a reciprocal bridge between other networks and Ethereum. Last week, the NEAR project launched the Rainbow Bridge, which connects their platform to Ethereum, and Enjin has already built a bridge connecting Hyperledger to Ethereum.