Ripple’s ecosystem has received a lot of attention over the years. Few people know that XRP has a very interesting set of tools as well, although they aren’t all well known. The XRP Toolkit has a lot of useful features.
Managing Crypto Assets
At its core, the XRP Toolkit can best be viewed as a solution to manage crypto assets that exist on the XRP ledger. Contrary to what some may think, there is a lot more going on with this ledger than meets the eye at first. There’s even a built-in decentralized exchange – or DEX – that makes use of the XRP Ledger, and it can be accessed through the Toolkit.
It also provides a lot of interesting features such as access to limit orders, escrows, and cross-currency payments via the XRP Ledger. According to the Xpring blog, a lot of Xumm App and Ledger hardware wallet owners leverage this toolkit.
Different Layers of Security
Every set of tools that is developed for any specific currency or project will need to adhere to strong security standards. The XRP Toolkit is designed in such a way that it only comes into contact with public data and public keys. Even when transactions are completed, the Toolkit will never be exposed to the private keys.
Because of this particular approach, the XRP Toolkit is a lot more versatile. It inherits the security benefits of supported non-custodial wallets. Furthermore users are greeted with a fleshed out user interface that provides access to all of the bells and whistles.
Transaction Signing With the XRP Toolkit
Another aspect that makes the XRP Toolkit so interesting is how transaction signing is handled. Because this solution requires as little sensitive information as possible, users can sign transactions through the supported wallets.
Whether it is a Ledger Nano X or the older Nano S, signing transactions will be a breeze. Ledger hardware wallets are widely considered to be the most secure offering on the consumer-grade market. Having them take care of all of the security aspects is a big help. The Xumm app is equally supported, and can be used for this aspect as well.