Interoperability for the open metaverse just got more accessible
The Root Network Overview - December 23, 2024
Welcome back to The Root Network Overview. We’re creating the best content for the AI and metaverse ecosystems to get up to speed on the latest updates, metrics, developments, insights and more on The Root Network and Futureverse.
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The ecosystem insights
$ROOT price: $0.034 (-5.56%)
The Root Network holders: 303.6K (+1.67%)
The Root Network total transfers: 1.7M (+13.33%)
The Root Network total transactions: 406.4K (+0.97%)
Total staked: 323.6M (+1.73%)
The percentages and metrics are calculated from its change over a 14-day time frame, unless noted otherwise.
Highlight of the The Root Networks
💫What’s happening: Girin Labs recently launched Girin Wallet, a non-custodial digital wallet designed to simplify digital asset management.
💫Why it matters: Interoperability is a big mission statement for The Root Network. The release of the Girin Wallet integrates FuturePass, as well as multi-chain asset management, to build toward interoperability between The Root Network and XRP Ledger ecosystems.
Since wallets are able to access decentralized applications offered by the network, this can enhance user accessibility via social login features and lowering the barrier of entry of non-native web3 users. This is important to note because a large user base of XRPL comes from XRP token holders, which are more often than not web2 folks. A familiar user interface and experience can create a better first impression for people who are new to blockchain technology. In turn, it would entice them to explore different areas and applications.
The wallet also leverages The Root Network’s scalable infrastructure and developer-friendly tools to create an easier user experience, while also enabling advanced features like any-token gas fees. This would mean more interoperability across the two ecosystems and ability to incorporate future features such as lending or staking.
💫 The bigger picture: The launch of the Girin Wallet can be seen as a the next step needed in order to achieve more interoperability and user onboarding tools within the web3 ecosystem and The Root Network.
Girin Labs can increase user participation in decentralized networks by offering intuitive and secure tools to manage assets across multiple networks and ecosystems.
By making digital asset management more accessible and enhancing interoperability, it supports the broader vision of a thriving open metaverse powered by The Root Network and XRPL alike.
Built on Root
Ripple deployed its stablecoin - which will be on The Root Network in the future as a gas token
Futureverse released an update designed to foster a more competitive and rewarding environment for external validators
The Root Network shipped an update to its mainnet that includes support of cross-chain NFI metadata, among other features
Root.Site launched its platform to create custom decentralized website tied to user’s Root Name Service identity
Want to catch up? Check out the monthly Futureverse updates here.
Driven by community
Highlighting the companies, communities and users tied to The Root Network.
Cool Cats integrated ALTERED STATE for users to create their own themed memes
AIgent.run revealed its token launch platform powered by AI Agents and The Root Network
Futureverse co-founder and CEO Aaron McDonald spoke on the Paul Barron Network show
FLUF World showcased a teams feature for Episode 1.5 of The Third Kingdom: Cataclysm
Get involved in the future
Want to dive into the ecosystem full-time? Find the latest job postings here or get involved at an event below.
Early access for OP3N is coming soon - add it to your Epic Games wishlist here
Walker World created a video thread about how to earn “OOZE” on its collectibles
Participate in a rewards campaign in part with Root.Site’s launch
Anti-Social Media Unleashed LootCrates’ mint is live on Tradeverse until Dec. 28
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This product was built by Token Relations.
This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.