#CryptoMarketRebound Ripple has taken a new step to develop the XRP Network!

Ripple developers announced that they will organize a new event to enhance the security of the XRP network.

Ripple and the blockchain security platform Immunefi have launched an event called "Attackathon" to test the security of the new credit protocol developed on XRPL.

According to the joint statement made by the companies, this program invites global security researchers to conduct vulnerability testing on the XRPL Lending Protocol.
Ripple, which offers corporate blockchain solutions, stands out as one of the main contributors to the XRP Ledger’s (XRPL). On the other hand, Immunefi states that it has protected 180 billion dollars in user funds with its on-chain security platform and has prevented over 25 billion dollars in attacks across more than 650 protocols.

Mitchell Amador, CEO and founder of Immunefi, stated in a related announcement, "We are excited to implement our Attackathon model to ensure the security of the XRPL Lending Protocol together with RippleX. This initiative not only strengthens the infrastructure of XRPL but also supports Immunefi's mission to protect the security of Web3 ecosystems."

As the next significant step in the corporate DeFi vision within the XRPL ecosystem, the XRPL Lending Protocol will be presented for validator voting towards the end of the year. If approved, the protocol will automate lending processes by providing pool-based lending and collateralized lending services natively on the XRPL. This will enable developers and financial institutions to digitize the lending cycle from issuance to repayment; while borrowers gain access to global liquidity, investors can also earn returns on their idle assets.

The protocol is designed to work in integration with existing risk and compliance frameworks and aims to make the credit markets on the XRPL more transparent, efficient, and accessible.

RippleX Product Head Jasmine Cooper stated, "XRPL is designed to provide a secure infrastructure for real-world financial applications. As the lending protocol is integrated into the network, this security aspect becomes even more important," and added:

"This initiative will pave the way for developers and institutions to build with confidence by ensuring that the protocol is thoroughly tested by top security researchers prior to its launch."
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