45 Billion Spark Claimable by Existing XRP Holders

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Avatar for Rutkowski
3 years ago

What is Flare Network?

Flare Network makes it possible to use XRP with Smart Contracts. Currently XRP can operate with an Ethereum Smart Contract. Flare Network took the XRP Ledger (hence the Fork) Combined with the F.B.A protocol using the Ethereum Virtual Machine allowing Smart Contracts to be executed on Ethereum using XRP via FXRP.

This will in turn produce 100,000,000,000 Spark. This means that 45,000,000,000 will be up for claim by current holders. Since this is a Hard Fork of XRP anyone whom owns XRP on the Dec 12, 2020 Snapshot will receive Spark in either a 1:1 ratio provided every user of XRP participates in the AirDrop. You may receive a higher ratio than 1:1 if for say only 20 billion Spark are claimed it would be more like 1:2.25

What Is Spark?

Spark is an algorithmic stablecoin. That is generated by the fork of the XRP Ledger. Spark can be produced by sending XRP to a Smart Contract on the Ethereum Network using the FXRP Protocol. This is the only way of using XRP with Smart Contracts on the Ethereum Network.

Ways To Claim Spark?

Foremost you must have owned XRP in either a personal wallet that you have the private keys to or you must have your XRP on an exchange that has announced already that they will be honoring the fork.

I would write an article on how to claim XRP using your private wallet key however Wietse Wind has already made a well detailed tool for that method in which I will be doing a small amount of my XRP just to do it honestly...You can find the information HERE

The method I will be using mainly is a rather simple method. I have been using Bitrue for over a year now. I currently Stake XLM, XRP and HOT with Bitrue and Nexio. Bitrue has officially announced support for the Fork with a long list of other exchanges that will also support the Fork.

Exchanges Supporting XRP/SPARK Fork

The SnapShot will take place on Dec 12, 2020 so the list should ideally contain even more supporting exchanges as time nears the SnapShot. You can check the official site HERE for further updates past this article.

My Final Thoughts

I have long since learning about XRP been a huge fan. I have to say I also like the advantages of Ethereum with the ERC-20 Tokens. I am quite frankly a Cypto Addict. I do enjoy my addiction though.

I like the added room for expansion beyond the XRP Ledger into the Ethereum community. I think this may have been seen as a road block to potentially millions of users of Ethereum. Now they can use XRP with Ethereum Smart Contracts which should definitely increase the popularity of XRP and the price increase is a given for both parties.

This Fork is good for the Ethereum community and the XRP community alike. I honestly see nothing but good coming from this. I am excited to get my free Spark. I hope everyone is able to participate in this Airdrop.

Thanks for reading, Stay Healthy and God Bless You.

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3 years ago

Comments

Like me I will try to

$ 0.00
3 years ago

Nice article

$ 0.00
3 years ago

Good one

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3 years ago

Good one I will try it

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3 years ago

What wallets supports the fork?

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3 years ago

I listed the exchanges above that will support the fork. As far as the individual wallets I know the xrp ledger wallets if you follow the steps in the article referenced above you can claim Spark that way. However you should be aware that it is a some what complicated process and not for your average crypto user.

One mistake manually claiming could result in a total loss of all your funds. https://flare.wietse.com/

I recommend using one of the exchanges listed above unless you are comfortable with the steps in that article. I plan on attempting the manual process with some of my XRP but the majority is being held on BiTrue in case I mess up...

$ 0.10
3 years ago

এটা কিভাবে কাজ করে

$ 0.00
3 years ago

Amazing appreciate reading this article nice job keep it up

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3 years ago

Appreciate reason this at reading this article nice job so informative

$ 0.00
3 years ago

I don't have xrp right now but i am planning to buy it this month. Thanks for informing us about this fork.. Btw, what about those who hold xrp on binance? Will they get the airdrop?

$ 0.02
3 years ago

Binance as of this moment has not announced support for the fork. However that could change as the snapshot will not be taken until Dec 12, 2020

Now if Binance does not announce support for the fork they will not be eligible to claim any of the 45,000,000,000 Spark being given away. Only exchanges that announce support for the Fork will be given Spark and independent wallets where you own your private keys.

I hope you bought before the price surge, at last check XRP is .41

$ 0.10
3 years ago

A wonderful article

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3 years ago