Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»TRADING NEWS»Ripple Joins DeRec Alliance Asset Recovery Initiative
TRADING NEWS

Ripple Joins DeRec Alliance Asset Recovery Initiative

By Crypto FlexsMay 10, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Ripple Joins DeRec Alliance Asset Recovery Initiative
Share
Facebook Twitter LinkedIn Pinterest Email

Ripple joins Swirlds Labs and Algorand Foundation as a founding member of the DeRec Alliance.

The partnership aims to simplify the implementation and recovery of digital assets. The Distributed Recovery (DeRec) protocol created within the project allows users to restore their personal information even if they lose their smartphone or other device for two-factor authentication.

Hedera co-founder Dr. Leemon Baird said the DeRec Alliance was initially developed as an open source project to develop methodologies and industry standards for convenient, secure, and decentralized asset recovery for any wallet.

“We encourage all blockchains and all industries to work together to create the standards and open source code needed to bring the security to the promise of Web3 without the complexity.”

AS Hedera co-founder Leemon Baird

The initiative was initially launched by ecosystem members Hedera and Algorand. Ripple and its division, XRPL Labs, have joined the pair as members of its technical oversight board, with powers for two years.

BankSocial CEO John Wingate also noted that the plan addresses one of the most important issues associated with self-storage of digital assets: the risk of irrecoverable loss.

According to Blade Labs CEO Sami Mian, these incidents will prevent users from participating in cryptocurrency.

“Self-storage of digital assets could revolutionize asset ownership and exchange of value, but terrible user experience and risk of permanent loss remain challenges. By pioneering integration with the DeRec protocol and working closely with the Alliance, we aim to bring these innovations to the public.”

Sami Mian, CEO of Blade Labs

Ripple announced the launch of its stablecoin on the XRP Ledger and Ethereum blockchains in late 2024. Stablecoins are 100% backed by dollar deposits, short-term Treasury bills and other assets, and are audited by third-party accounting firms.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Solana Price prediction: ETF Hype vs. Risk of unlocked -Is it a drop of $ 130 on the horizon?

June 2, 2025

India and Indonesia are leading 30,000 cases.

June 1, 2025

What should I expect from Ether Reeum price in June 2025?

June 1, 2025
Add A Comment

Comments are closed.

Recent Posts

The BNB chain improves the new AI BOT Initiative and AI integration.

June 2, 2025

Solana Price prediction: ETF Hype vs. Risk of unlocked -Is it a drop of $ 130 on the horizon?

June 2, 2025

The CZ suggests a dark full dex to suppress the operation.

June 2, 2025

Analysts said that XRP could fall to $ 1.70.

June 2, 2025

PRIMEXBT expands its global reach with FSCA regulatory password asset service.

June 2, 2025

Stablecoin’s market cap surpasses $ 250 billion, accelerating regulatory momentum.

June 2, 2025

NVIDIA Rapids improve machine learning with zero code acceleration and performance gain.

June 2, 2025

Bitcoin Bear Rishi reached $ 97,000

June 2, 2025

TEZOS unveils uranium token shoes in consensus 2025.

June 2, 2025

Hong Kong monetary authorities surprise the public about fake accounts.

June 2, 2025

TRON: Inversion in the future? -TRX trader will have to see the following next time.

June 2, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

The BNB chain improves the new AI BOT Initiative and AI integration.

June 2, 2025

Solana Price prediction: ETF Hype vs. Risk of unlocked -Is it a drop of $ 130 on the horizon?

June 2, 2025

The CZ suggests a dark full dex to suppress the operation.

June 2, 2025
Most Popular

279 cryptocurrency accounts seized by U.S. government in crackdown on North Korean money laundering

May 12, 2024

Cryptocurrency Analyst Says Ethereum Price Is Heading Towards $4,000, Here’s Why

July 16, 2024

Newsletter on all things BitPay and Crypto for September 2024

September 22, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.