In a recent discussion, XRP community member Wilberforce Theophilus highlighted the unique legal protections that bolster XRP's position in the cryptocurrency market. According to the results published in the material, his insights underscore the significance of patented technology that sets XRP apart from its competitors.
US Patent No. 10,902,416 and XRP's Role in Cross-Border Payments
Theophilus pointed to US Patent No. 10,902,416, which details a system for settling cross-border payments with XRP serving as a bridge between different currencies. This patent effectively prevents other cryptocurrencies from replicating this specific functionality, thereby securing XRP's role in international transactions.
Enhancements from US Patent No. 11,998,003
Furthermore, US Patent No. 11,998,003 enhances the interoperability between various ledgers and payment networks, reinforcing XRP's distinct advantages. While certain components of the XRP Ledger are open source, Theophilus argues that the true value of XRP stems from its established network and the relationships cultivated over the past decade, positioning it as more than just a piece of code.
On February 2nd, CrossCurves successfully contained an exploit involving EYWA tokens, emphasizing the ongoing security challenges in the DeFi space. This incident contrasts with XRP's legal protections discussed earlier, highlighting the need for robust security measures in the industry. Read more.
