As a seasoned crypto investor with a strong interest in XRP and a deep respect for regulatory compliance, I find Infinite Block’s recent move to become an XRP Ledger validator in South Korea particularly noteworthy. With their newfound status, they will now focus on expanding the XRPL ecosystem and offering XRP-focused services to corporations.
As a crypto investor following the latest developments in the industry, I’m excited to share that Infinite Block, a South Korean cryptocurrency service provider, recently announced becoming a validator on the XRP Ledger. This means they will now have a more active role in the maintenance and security of the XRP network.
“The Infinite Block team is committed to broadening the reach of the XRPL platform by providing corporations with specialized XRP solutions.”
Starting in early 2023, Infinite Block was granted permission by the Korean Financial Services Commission to operate as a provider of virtual asset services. They joined an exclusive group of approximately dozens of businesses authorized by the South Korean regulatory body to offer such services.
As a researcher studying the latest developments in the blockchain industry, I can share that according to Jung Gu-tae, CEO of Infinite Block, the company’s recent actions aim to enhance the dependability of XRPL (XRP Ledger). We are committed to not only safeguarding users but also ensuring XRPL’s robustness through rigorous adherence to regulatory requirements, both within our domestic jurisdiction and on the global stage.
Validators play a crucial role in the XRP Ledger ecosystem by verifying and approving transactions, effectively maintaining the integrity of the network. They determine which transactions are eligible to be included in the next block. Unlike other popular blockchain networks such as Bitcoin or Ethereum, validators on the XRPL do not receive incentives for their services. Instead, they operate out of a commitment to ensuring the smooth functioning of the XRP Ledger.
According to U.Today’s report, SBI VC Trade, the cryptocurrency subsidiary of Japanese financial giant SBI Holdings, recently initiated the operation of an XRP validator. This step is intended to represent the perspectives of SBI’s customer base who own the token.
Last week, I came across an announcement made by the XRP Ledger Foundation, a non-profit organization I follow closely. They revealed that they had added Anodos Finance to their exclusive Unique Node List (UNL).
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2024-05-13 13:25