Ripple Patented Smart Contract1 min read

Ripple

Ripple received a new patent for its smart contract design. With this patent, Ripple will come to life with a smart contract that can use orackles.

Ripple works for smart contract

Ripple, one of the important names in the crypto money market, also stands out with its leadership in the blockchain field. With the new design underway by Ripple, it will be based on data collected from the outside world.

In fact, the patent, which was first filed in 2018, aims to meet the conditions before reaching a certain threshold in equity ratios with smart contracts. If we give an example from the oil industry; By providing data on the density of crude oil shipment, it will be decided whether to trade with a smart contract.

In fact, smart contracts, mostly associated with Ethereum, are bringing new capabilities to the blockchain market. In addition, the BitMEX exchange also gave a $50,000 grant to the Bitcoin Core participant for the development of smart contracts.

It is not yet known whether the smart contract, which is currently under patent, will be implemented. We will see in the future whether Ripple has an action plan in this regard.

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