More and more XRP holders who store their riches through custodial platforms will be able to participate in the upcoming Flare "utility fork." Today Flare Networks, the software development team tasked with the organization of the fork, has shared the details of the new partnership.
First Australian exchange will advance Spark airdrop experience
Launched in 2013, Coinspot established itself as a veteran of the Australian cryptocurrencies trading market. Today it was announced by Flare Networks that Coinspot will support a Spark token airdrop in December.
Flare is excited to announce that @coinspotau is the first exchange in Australia to support the #Spark distribution! #XRP #Flare #UnlockingValue pic.twitter.com/x6kH6OisTl
— Flare (@FlareNetworks) September 18, 2020
This means that all XRP holders will receive Spark tokens in a 1:1 proportion to their XRP allocations with no need to leave their wallets on Coinspot.
As covered by CryptoComes previously, many custodial platforms have already confirmed that they will support Spark airdrop. For instance, yesterday, a similar announcement was made by American cryptocurrencies lender Cred.
Meanwhile, the soldiers of the XRP Army are guessing whether the world-leading exchanges like Coinbase or fintech unicorn Revolut can support Spark airdrop distribution. However, the giants of the crypto trading sphere have kept silent about the prospects of this support.
Flare Networks will make XRP ecosystems Ethereum-compatible
Today, software developer Joshua Edwards, Vice President of Engineering at Flare Networks, has shared some details about the design of the future XRP utility fork. According to him, the FXRP network will be Turing complete.
Flare are bringing smart contracts to the XRP ecosystem. We are a Turing complete network, which means that we have the ability to run programming on our blockchain via the Ethereum Virtual Machine.@FlareNetworks #UnlockingValue#XRP #Spark $XRP $Spark #Ethereum
— Josh Edwards Ω (@JoshuaGEdwards) September 18, 2020
Thus, it will empower XRP instruments with smart contract opportunities. XRP Ledger will become a programmatic environment interoperable with Ethereum Virtual Machine.
Spark tokens will be distributed between all XRP holders for free in December 2020. Once the airdrop finishes and the FXRP system launches its operations, it will act as the key element of tokenomics in a new blockchain.
Previously, the head of development at XRP Ledger Labs, Wietse Wind, has released a tool for seamless Spark claiming that is suitable for non-custodial XRP solutions, i.e., for the XUMM noncustodial XRPL-based exchange service and for the XRP Toolkit environment for Ledger Nano hardware crypto wallet.
