XRPL labs soon to release the productive version of XUMM

  • The last beta version of the XUMM application has been released
  • Developers have fixed all the bugs in the XUMM application
  • XUMM can build a convenient online banking system
  • Brad Garlinghouse criticized the use of XRP ledger to launch Stablecoins

XUMM app was introduced this year in March. Recently Wietse Wind, the founder of XRPL labs, revealed via a tweet about the new update of XUMM version 0.6.0, which might be the last beta version of the application. With the update, developers have fixed several bugs and errors in the application. It is likely that the XRPL labs will soon release the XUMM version 1.0, which would be the first stable version of the banking application.

What does the new version of XUMM consist of?

XUMM users can deposit and manage USD and Euro in their wallets. According to the chief developer of the application, after several feedbacks from the XUMM community, they have fixed all errors and bugs and thanked their users for providing such feedback, suggestions, and issues. A severe bug was also included in the list regarding the backup and restore that is now fixed. The new update now includes XRPL Check functions, by Pay The Piper, In-App Update Checks so that the user can receive notice in the application, by Brad Marsh, and WooCommerce plugin by Salvo Leone.

XUMM provides ease to the traditional online banking system

XUMM being a decentralized application, combines all the functions of traditional online banking in its platform. XUMM’s base cryptocurrency is Ripple (XRP), which helps process transactions faster and cheaper in real-time. Users of XUMM will never have to take the trouble with third parties like financial and banking institutions, as they can access their funds directly without taking the roundabout route.

However, the application is developed on behalf of Ripple. XRPL labs were founded by a Dutch developer who also led other applications like XRParrot and XRPTipbot.

Ripple CEO criticized the use of XRP Ledger

Recently Brad Garlinghouse, the Chief Executive Officer of Ripple, disclosed that few of the Central Banks are interested in using XRP Ledger to launch stablecoins on it. According to Garlinghouse, Ripple’s native token XRP is more challenging to use than Bitcoin in terms of regulatory measures and legal issues. Garlinghouse further criticized by pointing that yet it is not fully resolved, whether Ripple (XRP) is a security or not.

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Source: https://www.thecoinrepublic.com/2020/11/18/xrpl-labs-soon-to-release-the-productive-version-of-xumm/