Ripples Massive Vision: Bringing Smart Contracts to XRPL in 2024
Ripples recent announcement to introduce smart contract functionality to the XRP Ledger (XRPL) has sparked conversations across the community. The plan, spearheaded by Ripples CTO David Schwartz, reveals a strategic approach aimed at enhancing XRPLs utility while navigating concerns raised by stakeholders.
The firm outlined a two-pronged strategy to bring smart contracts to XRPL. The first involves an Ethereum Virtual Machine (EVM) Sidechain, developed in collaboration with Peersyst. This approach aims to integrate EVM compatibility, allowing developers to deploy Ethereum-based smart contracts on XRPL. The second strategy revolves around an XLS proposal to directly enable smart contracts on the XRPL Mainnet. The firm stressed that community support would be essential for this initiative to move forward.
However, conspicuously absent from the announcement was any mention of Hooks, a protocol developed by XRPL Labs to introduce native smart contracts on the Mainnet. Hooks has seen successful implementation on Xahau, a new chain, raising questions within the community about its omission. Wietse Wind, a key figure in XRPL Labs, expressed disappointment over the exclusion, prompting a response from Ripples CTO.
Ripple CTO Addresses Concerns
David Schwartz took to social media to clarify Ripples intentions. He emphasized that the firm does not unilaterally control XRPL. The announcement, he explained, was an early step in exploring the feasibility of adding programmability to the Mainnet without compromising its core attributes.
Schwartz acknowledged the communitys role in shaping XRPLs future, noting that Ripple is committed to transparency and collaboration. He pointed out that recent discussions with community members, including those at Orchestra Finance, have illuminated potential paths forward that address concerns such as ledger bloat, transaction speed, and security.
Despite Schwartzs reassurances, some community members voiced concerns about the implications for decentralization. MetaManX, a prominent community figure, questioned whether the addition of smart contracts could proceed independently of Ripples approvala critical point if XRPL is to remain truly decentralized.
As the debate unfolds, Ripples cautious approach underscores its intent to innovate within the bounds of community consensus, ensuring that XRPL evolves without compromising its foundational principles. The upcoming XRP community gatherings in Korea and Japan will likely provide further clarity as discussions continue.
Read more: https://www.tronweekly.com/ripple-vision-bringing-smart-contracts-to-xrpl/
Text source: TronWeekly
