XRP Slips Into Negative Territory As Ripple’s Senior Software Engineer, Evan Schwartz Calls It Quits

After working at Ripple for more than six years, Evan Schwartz announced on Twitter that he has officially left the fintech firm. Per his tweet, January 2, 2020, was his last day working at Ripple. He expressed gratitude to everyone who had supported him throughout the six and a half years he spent at Ripple. The software engineer also stated that he will continue rooting for the Ripple team from the outside.

Evan Schwartz is also the co-inventor of the Interledger Protocol (ILP), as per his LinkedIn profile. In 2015, Evan Schwartz and Stefan Thomas created the Interledger, an open protocol that facilitates secure and seamless payments across payments networks. The ILP also helps Ripple build on its vision of the Internet of Value.

In his tweet, Schwartz explained that he will be stepping away from the active development of the Interledger for some time. He, however, assured XRP fans that he will still be involved in the Interledger project and Coil, a platform that allows creatives to monetize their content online.

As ZyCrypto reported in August last year, Ripple’s funding initiative Xpring gave Coil a grant of one billion XRP in its $4 million seed round. According to the announcement at the time, the grant would be used to grow a platform where creators can share and earn rewards for their content. This monetization technique is enabled by XRP’s fast and cheap transactions.

Notably, Schwartz did not reveal what exactly he will be doing after resigning from his position at Ripple. It is, however, likely that he will be focusing on Coil where he remains a board member.

XRP slipped into the negative territory on the second day of 2020. At press time, the third-largest cryptocurrency is trading at $0.188129 with 2.63 percent losses on the 24-hour timeframe.

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