Bitcoin Forum

Ripple Wins US Patent for New Oracle-Based Smart Contract Design...Good for XRP too?

Check out the discussion here: https://www.youtube.com/watch?v=ZuS1Gzx-MBU (https://www.youtube.com/watch?v=ZuS1Gzx-MBU)

Blockchain payments technology firm Ripple has won a patent for a design that can execute smart contracts based on data collected from the outside world.

Interesting, this just goes to show that future crypto market is going to be very exciting and practical and we will be connected with real world data and everything could be implemented via smart contracts so the concept of smart cities, smart industries, smart business, smart manufacturing etc will become a reality also we can except good competition among top coins and better value of the top coins due to mass adoption happening out of all these innovative products.

Ripple as a company has done the right thing by introducing these smart contracts that were in demand from long and not only it will give users more options and more things to do on ripple network but it will also expand ripple's ecosystem and its revenue is expected to increase as well so all these things will have a positive impact on the project.

This is one of the great milestones from XRP. And I personally feel such achievements are expected from XRP. Even though not market capitalization but the potential is getting increased day by day fro Ripple. That what stands it apart from other altcoins at the moment.

I juat finished watching the video and I must, I'm pretty excited for what's going to come for Rippke in the next couple of years. Definitely a great deal for Ripple. It's a step, one taken in the right direction. I think this is the biggest news Ripple has had this year that is positive. Having smart contracts in Ripple's ecosystem alongside its transaction settlement ledger will help in repositioning Ripple at the top once again.

It just too bad that news like this to provide immediate price movements with XRP. But should be good in the long run when everything falls into place.

Let's wait for that perfect time after news comes out and then probably brings xrp development come up a brighter future. Currently, as observed for so many weeks ripple didn't dip into its price badly and in contrast to bitcoin's daily price movement. The active market still have good demand and people continued to trust it's platform. More good news coming so it's expected to have amazing outcome when whole market will be back to real bullrun situation.

I know Oracle and is there any website or source where can we read this "new" smart contract design? I'm interested in that design as I've heard it I think 2-3 times but never been interested before so, I'd like to read details about it.
Do you have any other source except the video?

Nice to hear that this type of news usually results in a surge of price, but sadly same was not the case for XRP. What do you think about the future of XRP? Will we be able to break the $0.3 mark again? I have a fair amount of XRP and waiting for a good move.

That was good for the company, so it means that sooner or later we can expect an oracle base smart-contract function powered by XRP, It was another achievement to date from the Ripple Team, and I'm hoping that It will benefit the XRP's price in the future.  

So does this mean that we have to hoard Ripple as soon as possible? Prices may go up everytime there is good news and that is a tested and proven event in this industry. I was actually using Ripple or Doge in converting my funds way back 2017 due to it's low fees and faster transaction. And now here comes a good news from the Ripple team so maybe we have to wait for them to announce their future plans soon as they maybe having surprises for the cryptocommunity. In my country Ripple is one of the Altcoins that local exchanges supported.

I can agree about the convenience ripple is bringing to a lot of crypto users.
With their very low fee and fast transaction, this alt is a very good candidate in the payment system.
If they will continue partnering with institutions or merchants, they will boost their popularity of usage.
And getting US Patent, it means they are continuously improving their presence in the market.
And local exchanges supporting ripple, that is very nice actually. A very good alternative if you are avoiding the high tx fee of btc.

Good for "ripple" and not good for XRP which is what people do not really understand the difference. Surely ripple will come out of this as the winner and they will make a lot more profit and they will get richer, will this affect the price of XRP itself?

I am not sure about it, I believe it would probably affect it a tiny bit but thats about it, I do not think that it will change anything major in the XRP world, it might have like a 10% positive at total if we want to be optimistic about it but that wouldn't even be that much of a sustainable thing and unless crypto market goes up, that 10% profit will probably go down as well. This is why I do not really think that it matters if we actually get anything from Ripple itself, we need something major in the XRP community itself.

Critics aside ripple is really a forward looking company and its pro tech and technology attitude is what will make it stand out. It seems like the team knows what is required to be at the top in the future and they are working on it which is what supporters usually look for in a project so thumbs up to ripple team.