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

Hut 8 Wins Bid for Poolin's Texas Datacenter Sites

Hut 8 has successfully bid $140 million for two datacenter sites owned by the bankrupt mining company Poolin.

user avatarLucas Weissmann

Senate Banking Committee Democrats Request Hearing on Prediction Markets

Democratic members of the Senate Banking Committee request a public hearing to examine the growing issue of prediction markets and their regulatory implications.

user avatarFilippo Romano

Crypto Economic Activity Remains Strong Despite Market Downturn

Crypto economic activity has shown resilience despite a significant drop in market capitalization, indicating a shift in market dynamics.

user avatarEmily Carter

Visa's Research Highlights Trust as a Barrier to Stablecoin Adoption

Visa's research highlights that trust and fraud protection are essential for stablecoin adoption, with 36% of US respondents considering their use, especially with bank-level protections.

user avatarTomas Novak

Cardano's Onchain Governance Approves New Treasury Allocations

Cardano's governance system has approved a new round of treasury allocations aimed at infrastructure and ecosystem development.

user avatarKaterina Papadopoulou

Galaxy Invests $100 Million in Onchain Credit Infrastructure

Galaxy has invested $100 million in Sky Protocol's yield-bearing sUSDS, integrating it into its corporate treasury and allowing it as collateral for institutional trading.

user avatarMaya Lundqvist

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.