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XRP Ledger Is Gearing Up to Overtake Ethereum As The Main Smart Contracts Hub
October 04, 2023
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The XRP Ledger (XRPL), the open-source distributed ledger developed by Ripple, is gearing up for major feature updates that will significantly expand its capabilities and cement its position as a leading blockchain ecosystem.

According to a recent 17-part thread by DeXfi, a prominent XRPL project, the ledger has ambitious plans to implement cutting-edge functionalities related to decentralized finance (DeFi), compliance, identity, data, and more.
 

Simplifying the Technicals

While the specifics may seem highly technical, the implications of these new features are profound even for regular XRP holders and users of XRPL-based applications.

In simple terms, the updates will increase liquidity, integrate automated market-making, give issuers more control over assets, enable self-sovereign digital identities, allow smarter data-driven decisions, and ensure regulatory compliance. This will push XRPL’s utility and adoption across financial institutions, developers, and individuals.

 

Native Automated Market Making

One of the most anticipated updates is XLS-30d, which will introduce native automated market-making (AMM) liquidity pools to the XRPL for the first time.

AMMs are smart contracts that provide liquidity without traditional buyers and sellers. They have driven immense DeFi growth on platforms like Ethereum.

XRPL’s AMM integration will enable swaps between XRP and issued tokens, increasing overall liquidity. Liquidity providers will also earn passive yield from trading fees. The AMM will share profit with the Dexter decentralized exchange for optimal token pricing.
 

Enhanced Asset Control

For major stablecoin issuers and financial institutions, XLS-39d or “Clawback” will add an important asset control feature.

Clawback allows assets on the XRPL to be revoked or frozen if necessary, for reasons such as regulatory compliance, investigations, or security. Importantly, this will not affect XRP. The clawback option is voluntary for token issuers.

The asset control afforded by clawback will make XRPL more attractive to major stablecoin projects and bridge the traditional and decentralized financial systems.

 

Self-Sovereign Identity

The XLS-40d update will integrate decentralized identifiers (DIDs) that enable self-sovereign digital identity.

DIDs allow for user-owned, independent identities that can interact across any domain, providing continuity. They are decentralized, cryptographically verifiable claims issued on blockchain or distributed ledgers.

XRPL will specifically implement the W3C DID standard, ushering in an era of portable digital identity for users across XRPL-connected apps and services. This also expands the broader ecosystem.

 

Looking Ahead

The XRP Ledger’s developers and community are fully committed to meaningful technological innovation. With these upcoming features just scratching the surface, XRPL’s future looks very promising.

By leveraging XRPL’s high speed, low cost, and reliability, the new capabilities will empower developers to offer advanced DeFi, liquidity, compliance, identity, and data solutions on a trusted blockchain foundation.

For crypto holders and XRP fans, these developments solidify XRPL’s position as a trailblazing ledger at the forefront of real-world blockchain utility and adoption. The future looks bright and exciting.

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

💳 PayPal: 
1) Simply scan the QR code below 📲
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🔗 Crypto
XRP: r9pid4yrQgs6XSFWhMZ8NkxW3gkydWNyQX
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XDC: xdcc2C02203C4f91375889d7AfADB09E207Edf809A6

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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

 

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