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Ripple funded start-up Towo Labs releases XRP Toolkit v2

  • Towo Labs has released the XRP Toolkit v2, a firmware that allows Ledger hardware wallets to process all transaction types of the XRP Ledger.
  • Using the XRP Toolkit v2, trading orders can be executed on decentralized exchanges, XRP escrows can be created and a connection to the XUMM wallet can be established.

Towo Labs, a company founded in 2019 that focuses on developing the infrastructure for the XRP Ledger (XRPL) and Interledger protocol, has released the new XRP Toolkit V2. The company has received a strategic investment from the investment arm of Ripple, Xpring, which will fund all projects on Towo Labs’ roadmap for the next two years.

One of these projects is the development of a firmware for the ledger hardware wallets that supports all XRP ledger transaction types. The XRP Toolkit v2 is now available on xrptoolkit.com and offers numerous improvements and new features.

Version 2 of the XRP toolkit provides full support for signing all transaction types of the XRP Ledger with the Ledger Nano S and Ledger Nano X. In addition, Towo Labs’ new ledger firmware supports signing of trading orders on decentralized exchanges, creation of XRP escrows, cross-currency payments, transaction fields such as memos, trading with numerous other tokens and connection to the Xumm wallet.

There are also new options like tags, invoice IDs and flags available with the new XRP Toolkit V2. Last but not least, the new firmware also enables a new multi-signature scheme that requires signatures from both hardware and software wallets. The co-founder and CTO of the Swedish company, Patrik Sletmo, wrote via Twitter about the release of the XRP Toolkit V2:

It thrills me that we’re finally releasing our updated XRP toolkit after months of hard work at TowoLabs. Perhaps what excites me the most is that this is the first release of many to come, as we have even more features planned. Go check it out and tell us what you think!

As the official website reveals, a web interface will be released soon, allowing users to connect to their Ledger Hardware Wallets via web browser.

Fraudsters on the XRP Ledger are tracked

Meanwhile, Xrplorer’s forensic team, which monitors and takes action against all fraudulent activity in the XRP Ledger, reported another fraudulent activity in the XRP Ledger yesterday. Xrplorer Forensic wrote via Twitter that a sum of 130,000 XRP was transferred by hackers to the ChangeNow stock exchange and 43,000 XRP to the Godex crypto exchange.

However, both exchanges reacted promptly to the report of Xrplorer Forensic and declared that they would investigate the transactions.

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About Author

Jake Simmons

Jake Simmons has been a crypto enthusiast since 2016, and since hearing about Bitcoin and blockchain technology, he's been involved with the subject every day. Beyond cryptocurrencies, Jake studied computer science and worked for 2 years for a startup in the blockchain sector. At CNF he is responsible for technical issues. His goal is to make the world aware of cryptocurrencies in a simple and understandable way.

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