As a seasoned researcher with years of experience in the blockchain and cryptocurrency space, I find Vet’s recent sharing of Ripple CTO David Schwartz’s perspective on smart contracts on XRP Ledger particularly intriguing. Coming from someone who has been deeply involved with XRP-related projects like xrpcafe and an XRPL dUNL validator, it’s clear that Vet understands the importance of a cautious and measured approach to implementing new technologies on established networks.
A key team member at xrpcafe (who also serves as an XRPL dUNL validator) recently posted a summary of Ripple CTO David Schwartz’s thoughts regarding the upcoming integration of smart contracts on the XRP Ledger (XRPL) in a recent update.
The X post reads: “Joel Katz on XRP Smart Contracts:It’s not all or nothing, some programmability is better than nothing. Useful, small and safe to allow real world use cases without compromising existing use cases of the XRPL.Challenge is to go slowly and incrementally increase confidence.”
This perspective advocates for a gradual and careful deployment of smart contracts within the XRP Ledger, emphasizing their potential to offer practical, limited, and secure functionalities. The term “useful, small, and safe” implies smart contract features that can facilitate various real-world applications without jeopardizing the essential purposes that XRP has already been utilized for.
As suggested by the Ripple CTO, it’s advisable to proceed cautiously and gradually build up confidence when approaching the intricate realm of smart contracts, not rushing headlong into it.
Yesterday, the Chief Technology Officer of Ripple had a chat about programmability on the XRPL, mentioning that his views on this matter have undergone development. More recently, Mayukha Vadari, a senior software engineer at RippleX, sought input from the XRP community regarding their preferences for a programmability system designed for the mainnet of the XRPL.
Ripple to bring new programmability to XRPL in 2025
In a statement made in early September, Ripple declared its intention, along with the wider XRP community, to introduce advanced programming features like smart contracts to the XRPL development ecosystem by 2025. This will be achieved through the ongoing development of the XRPL EVM sidechain and by investigating native functionalities on the XRPL Mainnet.
Concerning the XRPL EVM sidechain, Ripple’s Chief Technology Officer expressed optimism, stating: “I wish the XRPL EVM sidechain thrives and proves competitive as a platform for smart contracts. It could indeed expand the XRP ecosystem. Moreover, it’s worth noting that the impact on XRPL would be minimal in this scenario. I also see potential benefits in having smart contracts directly on XRPL.
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2024-09-19 17:56