XRPL Labs Reveals Smart Contract Sidechain For XRP Ledger, What This Means For The Altcoin

Samuel Edyme

1 year ago

3 mins read

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Earlier today, XRPL Labs divulged its latest development: Xahau Ledger, a smart contract sidechain integrated into the XRP Ledger (XRPL) ecosystem. This is said to enhance the capabilities of the XRP Ledger, pushing it a step closer to widespread retail adoption.

The announcement by XRPL Labs, the brain behind the XRP Ledger’s self-custody wallet named Xumm, has reignited excitement within the community, pointing toward significant advancements for this altcoin. However, so far, the altcoin remains in red down by 1% in the past 24 hours.

An Introduction To Xahau Ledger

On August 28, XRPL Labs conveyed its integration with the Xahau Ledger, characterizing it as an “ambitious move” to introduce multifaceted features to the XRP Ledger. This integration is seen as a catalyst, propelling the adoption of the altcoin and its foundational ledger.

We are proud to be part of the Xahau network (@XahauNetwork) as a launch participant. As stated earlier, we will support multiple chains that use the XRPL protocol and our commitment to the main XRPL remains steadfast. https://t.co/olzsK3veCx

— XRPL Labs 🪝 (@XRPLLabs) August 28, 2023

Such progress firmly positions the XRP Ledger protocol to break new ground in the retail sector. Furthermore, XRPL Labs is in the phase of rolling out a comprehensive whitepaper for the Xahau Ledger.

As emphasized by the developers, this sidechain’s primary purpose is to infuse the XRPL ecosystem with smart contract capabilities.

The Vision For The Smart Contract Sidechain For XRP Ledger

Wietse Wind, the founder of XRPL Labs, in a recent update on X (formerly recognized as Twitter), disclosed the collaboration with prominent names, including GateHub, Alloy Networks, and EvernodeXRPL.

For ~two years @XRPLLabs has collaborated with other entities with a track record of building on and supporting the XRPL ecosystem.

Today, together we publish the Whitepaper for “Xahau”, an XRP Ledger protocol chain.

We’re proud to publish the Xahau Whitepaper alongside of… https://t.co/q75V1djsSp

— WietseWind (🛠+🪝 Xumm @ XRPL Labs) (@WietseWind) August 28, 2023

According to Wind, their joint efforts have led to the Xahau whitepaper’s publication, underscoring the potential of the Ledger-powered smart contracts. Wind envisions these contracts as pivotal in crafting solutions for daily life challenges.

The XRPL founder further disclosed his commitment to the XRP Ledger ecosystem. In his words:

We will continue to build for the entire XRP Ledger ecosystem, and everything we build will be open for the entire ecosystem to benefit from.

He further expressed his optimism for a multi-chain XRPL Protocol ecosystem, emphasizing the combination of XRPL Mainnet’s proven resilience with the limitless potential of Hooks.

Furthermore, Wind dropped hints about future updates to the Xumm wallet, indicating support for multiple XRPL Protocol networks, notably XRPL Mainnet and Xahau.

According to the founder, this is a move aimed at achieving the overarching vision of XRP retail adoption. To add to the anticipation, Wind hinted that Xahau might become operational before the year concludes.

XRP price chart on TradingView — XRP price is moving sideways on the 4-hour chart. Source: XRP/USDT on TradingView.com

Featured image from Unsplash, Chart from TradingView

Samuel Edyme

Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.

Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.

Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.

When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)

Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.

In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.

Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think's probably unfeasible, I've done already a hundredfold.”

PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.

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