CRYPTO NEWS & DATA SPACE

CRYPTO NEWS & DATA SPACE

Ripple & FLUF World Introduce the Root Network

Published on:

Ripple and FLUF World has announced an unprecedented partnership to bring to life “The Open Metaverse” via the new decentralized blockchain network, The Root Network. 

The Root Network brings together best-of-breed components from the Web3 community with a deliberate focus on the user experience, which is why it will be built alongside the blockchain best suited to enable settlement and liquidity of tokenized assets at scale – the XRP Ledger (XRPL). XRPL will play a critical role in The Root Network by setting the standard for NFT functionality and utilizing XRP. As the default digital asset for transaction activity in the network’s multi-token gas economy.

The team behind FLUF World has led the conversation around “The Open Metaverse,” an approach that shapes the best practices, values and technological architecture needed to build the new interoperable world of Web3. At the heart of The Open Metaverse, FLUF World has architected The Root Network.

The Open Metaverse is grounded in two principles:

  1. An Immersive Experience: The internet as it is, operates within many interconnected but separate siloes. The Open Metaverse removes the boundaries between the major categories we currently engage with e.g finance, gaming, social media, commerce. This creates a single experience that encompasses all the current features of the internet.
  2. Ownership: The Open Metaverse is defined by users having control over their assets, data and transactions. Using open source code with open standards gives ownership back to users and control back to communities. It’s a tug away from the mega-corporations that currently control almost all of the digital tangible value in our lives. In The Open Metaverse, users own their content, identity, data, avatars and intelligence that sit behind processes. They can move freely between applications at will.

Root Network will give any creator access to common smart contract functionality without having to write or deploy contracts themselves. And also means that code previously written for Ethereum can now run natively on the Root Network. Through Ethereum Virtual Machine (EVM) compatibility. Root’s integrated runtimes for Non-Fungible Assets, Gas Economy, Fungible Assets, Decentralized Exchange, Oracles and more. This will provide the ingredients for creators to build applications and content with a simple onboarding experience. This connects The Root Network to two of the largest Web3 communities. And extends for the first time new smart contract features, as well as access to NFTs to the XRP Ledger community.

 

ABOUT FLUF WORLD

FLUF World is a metaverse ecosystem of NFT character collectables and a global, creative community that includes the popular NFT collections of FlufsParty BearsThingiesBurrowsEggs and Rayguns.

WEBSITE | TWITTER

 

ABOUT RIPPLE

Ripple is a crypto solutions company that transforms how the world moves, manages and tokenizes value. Ripple’s business solutions are faster, more transparent, and more cost effective – solving inefficiencies that have long defined the status quo. And together with partners and the larger developer community, we identify use cases where crypto technology will inspire new business models and create opportunity for more people. With every solution, we’re realizing a more sustainable global economy and planet – increasing access to inclusive and scalable financial systems while leveraging carbon neutral blockchain technology and a green digital asset, XRP. This is how we deliver on our mission to build crypto solutions for a world without economic borders.

WEBSITE | TWITTER

 

SOURCE: BLOG

Related

Market Stats:
BTC Dominance: 42.47%(-0.04%/24h)
ETH Dominance: 15.5%(0.00%/24h)
Defi Market Cap: $36.55B(+12.34%/24h)
Total Market Cap: $936.9B(-1.69%/24h)
Total Trading Volume 24h: $57.06B(+9.30%/24h)
ETH Market Cap: $145.25B
Defi to ETH Ratio: 25.16%
Defi Dominance: 3.73%
Altcoin Market Cap: $539B
Altcoin Volume 24h: $35.69B
Total Cryptocurrencies: 20036
Active Cryptocurrencies: 9954
Active Market Pairs: 59634
Active Exchanges: 509
Total Exchanges: 1683