Ripple CTO Explains Current XRP Ledger Capabilities

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. Fixed Functions of XRP Ledger
  2. Promise of Improvements
  3. Future Programmability of XRP Ledger


    4. Ripple CTO David Schwartz recently shed light on the current limited capabilities of the XRP Ledger (XRPL).

    Fixed Functions of XRP Ledger

    In a recent interaction on X (formerly Twitter), a user asked about the smart contract capabilities of XRPL. Schwartz responded that XRPL currently does not support native smart contracts, emphasizing its fixed-function nature. 'There are none today. Today, XRPL is a fixed-function ledger,' the Ripple CTO noted.

    Promise of Improvements

    XRP Ledger was initially designed with a focus on speed, efficiency, and low transaction costs, making it particularly suited for payments and currency exchange. However, its design, which prioritizes performance and reliability, resulted in limited programmability, such as executing complex smart contracts. Despite this, features like escrows, NFTs, authorized trust lines, payment channels, and DEX + AMM provide a common set of primitives for various use cases.

    Future Programmability of XRP Ledger

    While XRPL does not currently support native smart contracts, Ripple is exploring ways to enhance the ledger’s functionality in this area. According to a recent announcement, Ripple and the XRP community are committed to introducing advanced programmability, including smart contracts, to the XRP Ledger developer ecosystem by 2025. XRPL's programmability will improve through two key developments: the introduction of native smart contract capabilities on the XRPL mainnet, which is currently in the research phase, and the XRPL EVM Sidechain, expected to go live in the coming months. Existing smart contract standards, such as Hooks from XRPL Labs, will lay an important foundation for enhancing mainnet capabilities.

    Thus, while XRP Ledger already shows significant achievements in transactional services, the near future promises substantial improvements in programmability.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

BTCS Prepares for Tokenized Stocks Trading Under SEC Exemption

BTCS's Imperium unit has completed compliance work for potential trading of tokenized stocks under a new SEC exemption.

user avatarKofi Adjeman

21Shares Announces Staking Distributions for Five Crypto ETFs

21Shares has announced staking distributions for five crypto ETFs, converting on-chain validation rewards into cash payouts for investors.

user avatarNguyen Van Long

Soluna and Bitdeer Expand Bitcoin Mining Partnership

Soluna and Bitdeer are increasing their Bitcoin mining capacity at Project Kati 1 in South Texas, adding approximately 7 MW of mining equipment to reach a total of 35 MW, with completion expected in November 2023.

user avatarSatoshi Nakamura

Microsoft Stock Surpasses 500 Mark Amid Analyst Buy Ratings

Microsoft's stock has climbed above the 500 level, opening at 509 during Tuesday's trading session. Analysts have given MSFT a buy rating, with predictions suggesting it could reach above 600.

user avatarJesper Sørensen

Oracle Integrates with Swift's Blockchain for Enhanced Banking Payments

Oracle announced a significant integration with Swift's blockchain ledger to facilitate tokenized deposit payments for banks.

user avatarRajesh Kumar

TRON DAO Rings Closing Bell at Cboe for TRXS Listing

TRON DAO rings the closing bell at Cboe Global Markets to celebrate the listing of TRXS, an exchange-traded product linked to TRX.

user avatarLucas Weissmann

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.