A new feature from Toast Wallet was announced yesterday on Twitter. The feature, named “Issue Own Currency”, allows any user to create their very own currency in the form of an ICO on the Ripple Network. It notes that the DefaultRipple option must be enabled for peer to peer transactions to occur.
ICO creation is usually reserved for blockchains such as Ethereum and it’s not common knowledge that XRP provides this functionality. RippleNet is traditionally associated more readily with cross-border payments.
Earlier this year the Brazilian digital payment company ‘Allvor’ chose the XRP ledger to launch their own ICO after coders discovered its existence.
Ripple has pointed out that this functionality is included to support the open-source and decentralized nature of XRP Ledger, and they themselves do not support or promote ICOs built on the system.
Toast Wallet, on the other hand, are fully behind the creation of ICOs via this method and have put forward their full support for token trading, stating “..issue your own ICO on the Ripple network from your mobile while waiting for a bus”
The new feature is planned for launch next week.
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