What doesnât kill you makes you stronger. As the crypto winter hits hard, some crypto businesses are focused on merely surviving, but others are working hard on growing.
The Latin American exchange Ripio says itâs expanding its business and increasing interaction with cryptocurrency enthusiastsâboth beginners and experts.
To that end, itâs focused on various initiatives, including the launch of a book, a Web3 and metaverse wallet, as well as its own sidechain: Ripio Chain.
Ripio is one of the most important cryptocurrency platforms in the LatAm region. Founded in Argentina in 2013, the exchange has grown to serve over 3 million users across Argentina, Brazil, Colombia, Mexico, and Uruguayâand soon Spain.
âQuickly access the metaverseâ
During a conference held at the Konex Cultural Center in Argentina, Ripio CBO Juan Jose Mendez revealed that the company was working on making it easier for users to trade cryptocurrencies and tokens associated with the metaverse and other Web3 applications.
A new Web3 wallet âadds to Ripioâs wallet platform. As a tool, it allows you to quickly access the metaverse,â said Mendez, adding: âThe goal of the product is to accelerate the entry into a new stage in the crypto economy, including the popular digital collectibles or NFTs, play-to-earn games, DeFi protocols, digital art markets, and others.â
The wallet will have multi-chain functionalityâsupporting multiple chains nativelyâand work as a web browser extension, and it will co-manage private keys to prevent mishaps in case a user loses control or knowledge of their keys.
Ripioâs âPortalâ wallet is already in closed beta for users in Argentina.
Ripio Chain
During the Ethereum-focused ETH Barcelona event, Sebastian Serrano, CEO and co-founder of Ripio, explained that the growth of the exchange also had led his team to work on developing a solution to facilitate internal transactions and promote growth of the Ripio ecosystem.
To do so, Serrano announced that they were working on Ripio Chain, an Ethereum sidechain.
âIt will be a sidechain,â Serrano said. âWe already have a testnet liveâitâs based on Polygon technology.â
Serrano didnât delve into details, but did say that it initially will use a proof-of-authority consensus algorithm (where transactions are validated by authorized accounts) and will revolve around the platformâs native token. Later, it likely will move to a proof-of-stake algorithm (where transactions are validated by those who have funds locked in staking) for greater efficiency.
In addition, Ripio will be publishing a book with educational content to introduce beginners to the cryptocurrency ecosystem, and the company is promoting several important events, such as the âChamada Ripioâ contest that took place during the BIG Festival gaming festival held July 7 to July 8 in Brazil.