TheDinarian
News • Business • Investing & Finance
RIPPLE/XRP: From Web2 to Web3: How developers can upskill and build with blockchain
March 30, 2023
post photo preview

Coming off the heels of 2022, it may be difficult to assess where web3 technologies stand in 2023. Bitcoin rose to $47,000 and fell to $16,000. NFT trading volumes peaked at $17B in January 2022 and a year later collapsed to a mere $143M. “Blockchain” and “digital currencies” became everyday terms in the mainstream media. We saw the collapse of FTX and all its cascading consequences.

It was a tumultuous year in the world of web3—full of speculation, crashes, and scandals. But does this mean that web3 is dead and the underlying technologies made obsolete? Hardly.

Though mainstream enthusiasm for NFTs and cryptocurrency has ebbed and flowed, the community is still very much alive and actively invested in not just the technology, but in ensuring the promises of a decentralized internet are realized. The world at large is frustrated with the data collection practices of the tech industry heavyweights. The global reach of eCommerce needs trustworthy payment systems that can operate worldwide. While much of the discussion around NFT collectibles focused on high profile acquisitions and losses, NFTs themselves have only scratched the surface of what’s possible.

Web3 is here to stay

We are still in the early days of blockchain. Keep in mind that we’ve been using the term “web 2.0” since 1999 (24 years ago!) but blockchain quietly entered the market as an underpinning technology for Bitcoin in 2008 (15 years ago). That difference of nine years may sound small, but consider that nine years ago most large companies were just starting to move to the cloud.

Today, blockchain technologies power much more than basic cryptocurrency transactions. Banking and finance applications support cross-border payments that settle in seconds, not days. Multi- and cross-chain transactions via DeFi applications allow for increased crypto liquidity and improved exchanges with fiat currencies. Blockchain developers can build their own customized sidechains (more on those later) to support integration with real-time, low-cost transactions in video games and other use cases. SDKs are available in nearly every popular language, making it easy for today’s web2 developers to take their existing coding capabilities and embrace decentralized technology.

Emerging applications of blockchain and crypto include:

  • Cross-border payments
  • Real-time tracking of goods in supply chain and logistics 
  • Electronic health record storage
  • Energy supply transaction tracking, including renewable energy certificates
  • Citizenship and credential tracking across borders
  • Documenting legal agreements, such as real estate and carbon credits

Despite everything that’s been reported in the news about crypto and blockchain this past year, their potential is still largely untapped. Blockchain advances are bringing economic and technical utility to both users and developers. It’s truly an emerging technology with seemingly endless opportunity.

The tech behind the headlines

The technology comprising a blockchain is rather sophisticated. In the most simplistic sense, a blockchain is a database: it stores data in an ordered fashion. However, a blockchain doesn’t act as a simple database with all data on a single server, but rather as a distributed ledger: multiple computers across the world store redundant copies of all the data in the blockchain and share the work of confirming transactions, without needing a central authority or intermediary.

In a blockchain, each node has a copy of the blockchain ledger and participates in the transaction validation process. New transactions are broadcast to the network, and nodes work together to verify the transaction data and add it to the blockchain. This process is known as consensus, and it ensures that all nodes on the network agree on the state of the blockchain and that it remains secure and tamper-proof.

While some blockchains are centralized and managed by a single organization, most are open source and decentralized, meaning they are managed and maintained by a community of developers. For example, the XRP Ledger is a public, permissionless blockchain, meaning anyone on the internet can set up a validator and join the network. The reference implementation of the protocol is open source and any developer can propose amendments to this software. Because of the XRP Ledger’s decentralized nature, no singular authority can make decisions for the network. Instead, network changes are determined by a specific subset of validators, who vote on behalf of the XRP Ledger’s best interest. That being said, in order for amendments to pass, at least 80% of the validator community has to vote “yes” and that minimum threshold must be maintained for at least two weeks. If both of those conditions are met, then amendment proposals can be passed.

Consensus protocols run cryptographic functions to ensure the integrity of the network and its ledger. These usually include:

  • Hash functions: Create a unique digital fingerprint of each transaction on the blockchain. They are one-way functions that take an input (e.g. a transaction) and produce a fixed-length, unique output based on that input (SHA-256 is an example of a hash function). Hash functions ensure the integrity of data because any error in transmission or other change results in a totally different hash value. If you get the same output from the hash function, you know you have the same input data.
  • Public-key cryptography: Used for enabling secure communication between nodes on the network. Each node on the blockchain has a public key and a private key. The public key can be shared with anyone, while the private key is kept secret. Digital signatures are for ensuring the authenticity and integrity of transactions on the blockchain. Each transaction on the blockchain is signed using the sender’s private key, which creates a digital signature that can be verified using the sender’s public key.

Validator nodes execute the consensus protocol and can often run on commodity hardware (depending on the energy and computation requirements for the specific blockchain). Different blockchains use different consensus protocols to compute the final state of a transaction on the ledger. 

Because the XRP Ledger is open source, anyone can learn how it works, contribute to the code base, and report issues. Or they can simply write and consume apps; mint, manage and otherwise interact with NFTs; and much more.

Consensus algorithms, energy consumption, and transaction times

The two most popular consensus algorithms have long been Proof of Work (PoW) and Proof of Stake (PoS). 

In PoW algorithms, every node on the network competes to solve cryptography problems in order to validate a transaction. That’s fine for small networks of a few dozen computers, but multiply this computational cost over 100,000+ nodes and it adds up very quickly. This is compounded by the fact that the fastest nodes to validate transactions often receive financial rewards, hence a competitive arms race to deploy thousands of powerful, electricity-hungry GPUs to solve these cryptographic puzzles faster than other nodes in the network.

PoW methods are what led China to ban cryptocurrency mining altogether, the White House to issue a press release about energy concerns, and the Ethereum community to push for and switch to the more energy-efficient PoS methodology in 2022.

In PoS algorithms, instead of solving a cryptographic puzzle on every node, nodes that hold a larger stake in the network (i.e. the greater the number of tokens, the greater the stake in the blockchain) are the ones to validate transactions. They still perform a cryptographic validation process, but it’s only a fraction of the nodes on the network with the biggest stake. The algorithms are no less complex and the validation mechanisms are similar to PoW, which is why PoS transactions can also take minutes or hours to be validated.

Ethereum moved to PoS “because it is more secure, less energy-intensive, and better for implementing new scaling solutions compared to the previous proof-of-work architecture.” It was a tremendous shift in how that chain operated and resulted in more than 99.9% reduction in electricity consumption. So tremendous, in fact, that they termed it The Merge. According to CoinTelegraph, Ethereum on PoW was using 112 TWh per year and on PoS is now using 0.01 TWh per year. For reference, Bitcoin is still using tremendous energy—more than many countries on earth.

There are many alternatives to PoS and PoW algorithms, with various tradeoffs to speed, centralization, and efficiency. Chains such as the XRP Ledger and Stellar use “federated consensus” or “proof of association” algorithms where a subset of nodes collectively build and agree on the next block of transactions. Other chains, such as Ignite, use hybrid systems that combine elements of federation and PoS. These systems are far more efficient than PoW and faster than both PoW and PoS because they eschew the wasteful work of competing to solve cryptographic puzzles. For example, transactions on the XRPL take 3-5 seconds to be validated, rather than minutes or hours.

Additionally, both PoW and PoS typically let the winning validator build a block however they like—which leads to miners and validators gaming the system to get the maximum extractable value (MEV) from each block. Federated consensus algorithms are typically less susceptible to these problems because they always arrange each block of transactions in a canonical order.

Making developers’ lives easier with abstractions, dApps, and smart contracts

Web2 brought us rich application experiences, cloud computing, asynchronous communication, and plenty of centralization. It’s practically impossible to develop a web2 app without paying corporations and being subject to their privacy policies, terms and conditions, and fiduciary responsibility. Web3 gives developers the ability to write and run apps that are fully-independent, widely-available, and decentralized. No limits and no corporate dependencies.

To make this a reality, most major blockchains are working hard to attract and onboard developers to their platforms with easy-to-use SDKs and high-quality documentation (e.g. SolanaCardanoXRPL). Open-source blockchains are widely available and provide fertile ground for innovation. Each has built-in support for financial transactions using their native tokens (e.g. SOL, ADA, XRP), ensuring that people can pay and be paid.

Many chains support the development of dApps—decentralized applications. They can be written in a variety of programming languages, depending on what the chains support. Generally speaking, the larger the developer community of a given chain, the more languages it supports. For example, Ethereum supports .NET, Go, Java, JavaScript, Python, Ruby, Rust, Dart, and Delphi. The XRPL supports Python, JavaScript/TypeScript, C++, Java, React.js and Ruby.

Some blockchain apps are backed by or written as smart contracts. Smart contracts are tamper-proof, immutable pieces of code that live on the blockchain and facilitate interactions or agreements between the app, the user, and the chain. Blockchains offer simple abstractions and SDKs so developers can get up and running quickly with app development. For example, Ethereum offers a variety of application development tools to help people experiment, build front ends, and test their dApps and smart contract implementations. The downside to smart contracts is that, since they’re immutable and shared online, if anyone finds a bug in the contract’s code, they can exploit it to their advantage, and the developer can’t easily patch the vulnerability away. This makes developing smart contracts a delicate task with higher stakes than many other projects.

The XRP Ledger supports programmability through a number of protocols and standards. It includes native transactors that provide out-of-the-box functions which are already battle-tested and standardized. The Hooks proposal would further extend programmability on the Ledger. Hooks are small, efficient pieces of code that allow for the quick and easy execution of logic before and after a transaction — all native to the Ledger. This is important because standard smart contracts can be complex and difficult to navigate, especially for developers that are new to web3.

Unlike other protocols, the XRPL also has native support for NFTs, which means developers don’t need to build or maintain a smart contract in order to bring their NFT projects to life. This lowers the barrier to entry for developers, creators, and anyone else who wants to interact with NFTs on the XRPL. Additionally, automatic royalties are enforced at the protocol level which helps ensure maximum value for creators and developers. Core operations such as minting and burning are native to the Ledger to promote ease-of-use regardless of experience level.

An upcoming amendment, XLS-30d, proposes a native Automated Market Maker (AMM) on the XRPL. The proposal will include bid and vote features, allow for simple token swaps, and should create deep liquidity between token and currency pairs. The AMM’s functionality allows application developers to create interfaces for traders and liquidity providers (LPs) and introduces a novel auction mechanism that incentivizes arbitrageurs while reducing the impact of impermanent loss faced by LPs.

Developers make the chain better—for everyone

The XRPL community is also currently testing sidechains. Sidechains allow developers to build and experiment with customized features in a sandbox-like environment—connected to, yet distinct from the mainnet—enabling innovation without disrupting or compromising the mainnet. Sidechain features could eventually be proposed as amendments and be merged into mainnet if voted on by the community. There is also ongoing development and testing of an Ethereum Virtual Machine (EVM) sidechain to bring Ethereum’s native Solidity-based smart contracts to the XRPL ecosystem.

As developers do more work on blockchains, we’ll inevitably see improvements in utility, security, scalability, cost and sustainability. The more adoption, the greater the improvements, and the greater the likelihood that more developers (and users) will further adopt this technology. The network effect and a fast-growing list of innovative features are already appealing to developers who want to move on from web2 conventions.

How developers can upskill and start building

The innovations underpinned by blockchain and advantages over web2 are getting hard to ignore. Web3 protocols are making it easier than ever to build on decentralized technologies. Web3 tech isn’t just “an upgrade” or “a step up” from web2—it’s a whole new paradigm of working on applications. They’re decentralized, permissionless, scalable, and stable. Developers can use what they already know and upskill to web3 technologies. For once, they can have skin in the game with full ownership of their assets and intellectual property. Using the programming languages they already know, they can increase their domain expertise and take advantage of decentralization

When choosing a chain to start on, developers should consider:

  • Adoption: Do you want to build on a prime-time chain with lots of users, an up-and-coming chain with a growing user base, or get in early on something brand new?
  • Ease of development: Is there sufficient documentation, fully-featured and supported SDKs, an ecosystem of existing dApps to explore, and low-friction onboarding?
  • Ledger functionality and transaction time: How does consensus work? Is it efficient and quick?
  • Environmental impact: Are energy consumption and sustainability priorities for the blockchain?
  • Time to first dApp: How long does it take to build an app? Minutes? Hours? Weeks?
  • Community: Is there a living, vibrant user and developer base? Are they passionate about the chain, its growth, and web3?

Blockchain and crypto have the power to enable a better future, and there is a vibrant community of developers that are building, testing and iterating on top of the technology to help uncover future use cases and applications. Ripple is just one contributor among many to the XRP Ledger; as members of this developer community we are deeply committed to helping it grow and thrive

There are a number of programs like grants and bounties to help developers of all levels get started with the funding and resources they need to bring their web3 projects and applications to life.  The XRP Ledger also recently launched an online learning portal where developers can learn more about the basics of crypto and blockchain, or dive straight into coding on the XRPL with courses in languages such as React.js (currently in beta).

For additional information or to join the community, check out the developer Discord, view open source code and repos on GitHub, and follow @RippleXDev on Twitter where we regularly share updates, projects, new features, and fixes from the XRPL community. 

Link

community logo
Join the TheDinarian Community
To read more articles like this, sign up and join my community today
0
What else you may like…
Videos
Podcasts
Posts
Articles
Pyth Network Is Playing A MAJOR Role 😉

The @PythNetwork is playing a major role in financial data transparency by powering on-chain publishing of real-time Commerce Department GDP data. This initiative marks a huge leap for blockchain-based economic oracles, enabling markets to react instantly to official, anonymized metrics. As other economic indicators join this movement, decentralized finance stands to gain unprecedented data transparency and efficiency.

🔎Why This Matters:

🔹Publishing GDP and other markers on-chain lets oracles deliver accurate, up-to-the-minute pricing for DeFi and trading.

🔹The result is real-time market reactions, making price discovery and risk management faster and more reliable.

🔹Scrubbing data for anonymity preserves privacy while boosting trust in the blockchain ecosystem.

👉The Impact:

🔹Official government data feeds power smarter financial markets, improving decision-making for users worldwide.

🔹 PYTH Network’s leadership sets a new standard for integrating public ...

00:00:34
The future of home cinema and gaming?

Too cool, must have in the new life ahead. 😉

00:01:21
Why did the SEC drop their appeal against Ripple?

@s_alderoty @Ripple

00:01:24
👉 Coinbase just launched an AI agent for Crypto Trading

Custom AI assistants that print money in your sleep? 🔜

The future of Crypto x AI is about to go crazy.

👉 Here’s what you need to know:

💠 'Based Agent' enables creation of custom AI agents
💠 Users set up personalized agents in < 3 minutes
💠 Equipped w/ crypto wallet and on-chain functions
💠 Capable of completing trades, swaps, and staking
💠 Integrates with Coinbase’s SDK, OpenAI, & Replit

👉 What this means for the future of Crypto:

1. Open Access: Democratized access to advanced trading
2. Automated Txns: Complex trades + streamlined on-chain activity
3. AI Dominance: Est ~80% of crypto 👉txns done by AI agents by 2025

🚨 I personally wouldn't bet against Brian Armstrong and Jesse Pollak.

👉 Coinbase just launched an AI agent for Crypto Trading

(Dinarian Note: This Is Entirely Possible, We Are In Unchartered Waters. Tia, the celebrity psychic that took the departed Michelle Whitedove's position, is predicting only a 2 year bear market coming after this bull cycle. Time will tell...)

“4 year cycles are over…”😶‍🌫️

In this episode of the Cashu podcast I sit down with 👉SMQKE, one of the top XRP & ISO-20022 fundamental analysts, to break down:

💥 Quadrillions set to flow through blockchain
💥 Why ISO tokens were preselected to upgrade SWIFT
💥 The Genius & Clarity Acts, stablecoins & regulation
💥 End of the 4-year cycle & rise of institutional money
💥 Bitcoin’s fate vs XRP, XLM, XDC, SHX & more

A must-watch for anyone serious about XRP, ISO-20022 tokens & the future of crypto.

Full Episode:

XRP 101 ✅️
post photo preview

‼️ AUGUST 2025: CENTRAL BANK OF NIGERIA ORDERS FULL ISO 20022 MIGRATION ACROSS ALL SYSTEMS BY OCTOBER 2025‼️

Documented.📝💨

OP: Smqkedqg

post photo preview
post photo preview
The Great Onboarding: US Government Anchors Global Economy into Web3 via Pyth Network

For years, the crypto world speculated that the next major cycle would be driven by institutional adoption, with Wall Street finally legitimizing Bitcoin through vehicles like ETFs. While that prediction has indeed materialized, a recent development signifies a far more profound integration of Web3 into the global economic fabric, moving beyond mere financial products to the very infrastructure of data itself. The U.S. government has taken a monumental step, cementing Web3's role as a foundational layer for modern data distribution. This door, once opened, is poised to remain so indefinitely.

The U.S. Department of Commerce has officially partnered with leading blockchain oracle providers, Pyth Network and Chainlink, to distribute critical official economic data directly on-chain. This initiative marks a historic shift, bringing immutable, transparent, and auditable data from the federal government itself onto decentralized networks. This is not just a technological upgrade; it's a strategic move to enhance data accuracy, transparency, and accessibility for a global audience.

Specifically, Pyth Network has been selected to publish Gross Domestic Product (GDP) data, starting with quarterly releases going back five years, with plans to expand to a broader range of economic datasets. Chainlink, the other key partner, will provide data feeds from the Bureau of Economic Analysis (BEA), including Real Gross Domestic Product (GDP) and the Personal Consumption Expenditures (PCE) Price Index. This crucial economic information will be made available across a multitude of blockchain networks, including major ecosystems like Ethereum, Avalanche, Base, Bitcoin, Solana, Tron, Stellar, Arbitrum One, Polygon PoS, and Optimism.

This development is closer to science fiction than traditional finance. The same oracle network, Pyth, that secures data for over 350 decentralized applications (dApps) across more than 50 blockchains, processing over $2.5 trillion in total trading volume through its oracles, is now the system of record for the United States' core economic indicators. Pyth's extensive infrastructure, spanning over 107 blockchains and supporting more than 600 applications, positions it as a trusted source for on-chain data. This is not about speculative assets; it's about leveraging proven, robust technology for critical public services.

The significance of this collaboration cannot be overstated. By bringing official statistics on-chain, the U.S. government is embracing cryptographic verifiability and immutable publication, setting a new precedent for how governments interact with decentralized technology. This initiative aligns with broader transparency goals and is supported by Secretary of Commerce Howard Lutnick, positioning the U.S. as a world leader in finance and blockchain innovation. The decision by a federal entity to trust decentralized oracles with sensitive economic data underscores the growing institutional confidence in these networks.

This is the cycle of the great onboarding. The distinction between "Web2" and "Web3" is rapidly becoming obsolete. When government data, institutional flows, and grassroots builders all operate on the same decentralized rails, we are simply talking about the internet—a new iteration, yes, but the internet nonetheless: an immutable internet where data is not only published but also verified and distributed in real-time.

Pyth Network stands as tangible proof that this technology serves a vital purpose. It demonstrates that the industry has moved beyond abstract "crypto tech" to offering solutions that address real-world needs and are now actively sought after and understood by traditional entities. Most importantly, it proves that Web3 is no longer seeking permission; it has received the highest validation a system can receive—the trust of governments and markets alike.

This is not merely a fleeting trend; it's a crowning moment in global adoption. The U.S. government has just validated what many in the Web3 space have been building towards for years: that Web3 is not a sideshow, but a foundational layer for the future. The current cycle will be remembered as the moment the world definitively crossed this threshold, marking the last great opportunity to truly say, "we were early."

🙏 Donations Accepted 🙏

If you find value in my content, consider showing your support via:

💳 PayPal: 
1) Simply scan the QR code below 📲
2) or visit https://www.paypal.me/thedinarian

🔗 Crypto Donations👇
XRP: r9pid4yrQgs6XSFWhMZ8NkxW3gkydWNyQX
XLM: GDMJF2OCHN3NNNX4T4F6POPBTXK23GTNSNQWUMIVKESTHMQM7XDYAIZT
XDC: xdcc2C02203C4f91375889d7AfADB09E207Edf809A6

Read full Article
post photo preview
US Dept of Commerce to publish GDP data on blockchain

On Tuesday during a televised White House cabinet meeting, Commerce Secretary Howard Lutnick announced the intention to publish GDP statistics on blockchains. Today Chainlink and Pyth said they were selected as the decentralized oracles to distribute the data.

Lutnick said, “The Department of Commerce is going to start issuing its statistics on the blockchain because you are the crypto President. And we are going to put out GDP on the blockchain, so people can use the blockchain for data distribution. And then we’re going to make that available to the entire government. So, all of you can do it. We’re just ironing out all the details.”

The data includes Real GDP and the PCE Price Index, which reflects changes in the prices of domestic consumer goods and services. The statistics are released monthly and quarterly. The biggest initial use will likely be by on-chain prediction markets. But as more data comes online, such as broader inflation data or interest rates from the Federal Reserve, it could be used to automate various financial instruments. Apart from using the data in smart contracts, sources of tamperproof data 👉will become increasingly important for generative AI.

While it would be possible to procure the data from third parties, it is always ideal to get it from the source to ensure its accuracy. Getting data directly from government sources makes it tamperproof, provided the original data feed has not been manipulated before it reaches the oracle.

Source

🙏 Donations Accepted 🙏

If you find value in my content, consider showing your support via:

💳 PayPal: 
1) Simply scan the QR code below 📲
2) or visit https://www.paypal.me/thedinarian

🔗 Crypto
XRP: r9pid4yrQgs6XSFWhMZ8NkxW3gkydWNyQX
XLM: GDMJF2OCHN3NNNX4T4F6POPBTXK23GTNSNQWUMIVKESTHMQM7XDYAIZT
XDC: xdcc2C02203C4f91375889d7AfADB09E207Edf809A6

Read full Article
post photo preview
List Of Cardano Wallets

Well-known and actively maintained wallets supporting the Cardano Blockchain are EternlTyphonVesprYoroiLaceADAliteNuFiDaedalusGeroLodeWalletCoin WalletADAWalletAtomicGem WalletTrust and Exodus.

Note that in case of issues, usually only queries relating to official wallets can be answered in Cardano groups across telegram/forum. You may need to consult with specific wallet support teams for third party wallets.

Tips

  • Its is important to ensure that you're in sole control of your wallet keys, and that the keys used can be restored via alternate wallet providers if a particular one is non-functional. Hence, put extra attention to Non-Custodial and Compatibility fields.
  • The score column below is strictly a count of checks against each feature listed, the impact of specific feature (and thus, score) is up to reader's descretion.
  • The table represents current state on mainnet network, any future roadmap activities are out-of-scope.
  • Info on individual fields can be found towards the end of the page.
  • Any field that shows partial support (eg: open-source field) does not score the point for that field.

Brief info on fields above

  • Non-Custodial: are wallets where payment as well as stake keys are not shared/reused by wallet provider, and funds can be transparently verified on explorer
  • Compatibility: If the wallet mnemonics/keys can easily (for non-technical user) be used outside of specific wallet provider in major other wallets
  • Stake Control: Freedom to elect stake pool for user to delegate to (in user-friendly way)
  • Transparent Support: Easy approachability of a public interactive - eg: discord/telegram - group (with non-anonymous users) who can help out with support. Twitter/Email supports do not count for a check
  • Voting: Ability to participate in Catalyst voting process
  • Hardware Wallet: Integration with atleast Ledger Nano device
  • Native Assets: Ability to view native assets that belong to wallet
  • dApp Integration: Ability to interact with dApps
  • Stability: represents whether there have been large number of users reporting missing tokens/balance due to wallet backend being out of sync
  • Testnets Support: Ability to easily (for end-user) open wallets in atleast one of the cardano testnet networks
  • Custom Backend Support: Ability to elect a custom backend URL for selecting alternate way to submit transactions transactions created on client machines
  • Single/Multi Address Mode: Ability to use/import Single as well as Multiple Address modes for a wallet
  • Mobile App: Availability on atleast one of the popular mobile platforms
  • Desktop (app,extension,web): Ways to open wallet app on desktop PCs
  • Open Source: Whether the complete wallet (all components) are open source and can be run independently.

Source

🙏 Donations Accepted 🙏

If you find value in my content, consider showing your support via:

💳 PayPal: 
1) Simply scan the QR code below 📲
2) or visit https://www.paypal.me/thedinarian

🔗 Crypto
XRP: r9pid4yrQgs6XSFWhMZ8NkxW3gkydWNyQX
XLM: GDMJF2OCHN3NNNX4T4F6POPBTXK23GTNSNQWUMIVKESTHMQM7XDYAIZT
XDC: xdcc2C02203C4f91375889d7AfADB09E207Edf809A6

 

Read full Article
See More
Available on mobile and TV devices
google store google store app store app store
google store google store app tv store app tv store amazon store amazon store roku store roku store
Powered by Locals