Ripple CTO Claps Back at XRP Criticism: Here’s What Happened

by

“You know the XRPL is a DEX, right?” 🤔 (For those of you not in the know, that’s a Decentralized Exchange. Who would’ve guessed?!)

Highlights of XRP Ledger (Spoiler: It’s More Than Just AMMs)

Let’s break it down, shall we? XRP Ledger isn’t just about AMMs—it’s a powerhouse of cross-currency and cross-border payments. Oh, and tokenization too. All these things are part of the XRPL’s grand design. Talk about multi-functional! 💪

Some key features of the XRP Ledger include things like tokens, NFTs, a Decentralized Exchange (DEX), escrow functionality, and even built-in compliance. Imagine that! It’s like a Swiss army knife, but for the blockchain world. 🔧

And don’t get me started on NFTs. Unlike other platforms that rely on smart contracts for creation, XRP Ledger has built NFTs into its core protocol. No fancy smart contracts needed to create or transfer them. It’s as easy as pie! 🍰 Since the XLS-20 standard was launched in October 2022, NFTs have been racking up all sorts of benefits like royalties and anti-spam measures. A whopping 7,744,695 NFTs have been minted already. Now that’s what I call a lot of pixels! 🖼️

But wait, there’s more! On December 17, 2024, Ripple’s stablecoin, RLUSD (a USD-pegged stablecoin, mind you), launched on both XRPL and Ethereum. Fully backed by good old U.S. dollar deposits and treasuries. No funny business. 💵

Now, if you’re wondering why the XRPL doesn’t currently support arbitrary smart contracts, well, it’s because they wanted to keep things secure and stable, rather than getting tangled in complexity. But guess what? They’ve already announced plans to add native smart contracts, and they’re making progress as we speak! 📈

Read More

2025-03-23 18:24