Allvor: first token on XRP basis – Ripple is not thrilled
Ripple, unlike Ethereum, is not known to develop tokens based on Ripple Distributed Ledger technology. Allvor is now launching a project that will change that and take advantage of ripple technology.
Allvor describes itself as the first cryptocurrency focused on trading in products and services based on the XRP Ledger. Allvor wants to use the “superior” technology of the XRP Ledger to get cryptocurrencies into the commercial realm, where buyers actually use the currency to pay for goods.
Allvor plans to program tools that combine the XRP ledger with the technological resources of e-commerce vendors. The goal is the development of payment gateways, which allows merchants to receive payments in ALV.
Allvor has his own native token called ALV. The token can be stored together with XRP in a ripple wallet. This means that the ALV tokens can be managed and sent in a regular ripple wallet. Through the wallet, users should be able to buy and sell products and services using the ripple wallet.
Unlike other cryptocurrencies, Allvor does not conduct crowdsales to get funding for the project. Instead, the tokens are distributed over an Airdrop. Decisive for this is March 28, 2018. Anyone who has kept Ripple in a wallet at this time can get the free ALV tokens.
For this the own public ripple address must be entered on the website of Allvor (>> here). The initial token supply is to be made through the free distribution to ripple accounts. All 100,000,000,000 ALV tokens will also be brought into circulation by 2030 according to project specifications.
Whether the Allvor project is to be taken seriously and whether it will be successful is currently difficult to assess. The project is still very young and unknown. For example, there is no listing for the ALV token at Coinmarketcap, and therefore no price.
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