This update was shared via the official Twitter handle of the newly launched Foundation. According to the update, the foundation will be independent and non-profit.
Additionally, it will be focusing on the growth, innovation, and development of XRP Ledger and the community.
The following is the message shared via the Twitter handle of the Foundation:
“Today we launched the XRP Foundation, an independent non-profit, focusing on the growth, innovation, and development of the XRPL and XRP community. With support of industry leaders, academics, and community members, we can ensure XRPL is well-positioned for the future.
Today we launched the XRP Foundation, an independent non-profit, focusing on the growth, innovation, and development of the XRPL and XRP community. With support of industry leaders, academics, and community members, we can ensure XRPL is well-positioned for the future (1/3)
— XRP Ledger Foundation (Official) (@XRPLF) September 24, 2020
“What are we doing? – Developing core XRPL infra – governance, validator diversity, code maintenance – Publishing a Unique Node List – Growing an already incredible dev community – Promoting sustainable and scalable practices.
“We have been in the XRP community for years, and we’re excited to take this next step together to build and support the Ledger.”
The values and beliefs on which the XRP Foundation is established can be found on front page of the Foundation’s official website:
- We value our role as an independent organization acting in the best interests of the XRP Ledger
- We believe trust is foundational to our mission and building trust is a slow, steady process
- We believe in close working relationships with developers and organizations that build on and contribute to the XRP Ledger
- We value having the resources and support to compete on an equal playing field with other foundations in achieving our goals
- We value cultivating a diverse XRP Ledger ecosystem, where many entities contribute to and benefit from the XRP Ledger
According to the press release on the Foundation’s website, the people behind the XRP Ledger Foundation have been contributing to the development and success of XRP Ledger a very long time ago.
Ripple’s Reaction to the New Development
As XRP community members react to the development with a high level of elation and waiting to witness what the Foundation would bring to the XRP ecosystem, Ripple, the cross-border payment firm that oversees the distribution of XRP has also reacted to the new development.
In the tweet, Ripple revealed that it looks forward to seeing the developments that the Foundation will bring to the ecosystem.
Ripple tweeted, “We can’t wait to see what new, real-world solutions will emerge from the future development and growth of the XRPL—driven by the efforts of the XRP Ledger Foundation and community at large.”
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