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  • Mathew Jacob

Multi-National Rencom Network to Bridge RNT onto the XRP Ledger. XRP to Surge?

In a momentous announcement that has sent shockwaves through the blockchain world, Rencom Network, a multifaceted global blockchain platform, has unveiled its plans to bridge its native token, RNT, onto the XRP Ledger. The revelation came directly from Rencom Network's CEO, Niam, via a post on the official @RencomNetwork X social media page.

Rencom Network, known for its presence in over 130 countries, is not merely a blockchain platform; it represents a realm of empowerment and substantial rewards. It offers a unique ecosystem that stretches beyond conventional assets, encompassing everything from residential and commercial properties to everyday items like bicycles and construction equipment. At Rencom Network, ownership takes on a dynamic dimension, enabling seamless asset utilization and rewarding outcomes for its users.

One aspect of this announcement that has the crypto community buzzing is the status of Rencom Network's native token, RNT. In a remarkable turn of events, RNT's value has surged by an astonishing 3000% in just a single week. Adding to the excitement, Rencom Network has received internal confirmation, via an insider source, that RNT has been granted a non-security status by its legal team. This development adds another layer of significance to the network's recent achievements.

While Rencom Network's decision to bridge RNT onto the XRP Ledger is significant in its own right, it also coincides with a crucial milestone in the development of the XRP Ledger. RippleX developers have unveiled the XLS-38d cross-chain bridging primitive, marking a major advancement for the XRP Ledger ecosystem.

To ensure the security and robustness of the cross-chain bridging feature, a comprehensive security audit was conducted by Bishop Fox, a leading blockchain security firm. The audit focused on three key aspects:

1. Identifying vulnerabilities in systems and services exposed on internet-facing services related to the XRP sidechain bridging architecture.

2. Evaluating the overall security of the rippling bridging protocol, witness server, and RPC interfaces.

3. Identifying flaws or potential vulnerabilities in the rippled XRP bridging feature that could be addressed to enhance its security posture.

The final security evaluation yielded eight findings, with two categorized as medium priority, five as low priority, and one as informational. Importantly, none of these findings were rated as critical or major. The Ripple engineering team has taken these findings onboard and is diligently working on implementing changes to launch an effective update in the next rippled release.

The XLS-38d amendment plays a pivotal role in XRPL sidechains, ushering in a new era of interoperability within the XRP Ledger ecosystem. XRPL sidechains will rely on the XLS-38d amendment to enable a cross-chain bridge safeguarded by witness servers. This bridge will allow for the bidirectional transfer of XRP and issued assets between the XRPL mainnet and an XRPL sidechain.

With Rencom Network's decision to bridge RNT onto the XRP Ledger, and the growing use cases for XRP, there's a mounting anticipation of a surge in XRP's value. As more institutions, like Rencom Network, recognize the potential and practicality of XRP, the crypto currency's utility is poised to expand, potentially leading to increased demand and, consequently, higher value.

In the dynamic world of blockchain and cryptocurrency, Rencom Network's strategic move and the ongoing development of the XRP Ledger are sure to keep investors and enthusiasts on the edge of their seats, eagerly awaiting what the future holds for this ever-evolving space.



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