XRPL sidechains are set to undergo major design change under new proposal

RippleX, the developer arm of blockchain company Ripple, has revamped the design of XRP Ledger’s sidechains, according to an update shared by software engineer Scott Determan.

Ripple Engineers Unveil New Iteration of XRPL Sidechains

Ripple CTO David Schwartz introduced the concept of federated sidechains last year, a feature that would allow XRPL to compete with Ethereum by implementing smart contracts. They can also unlock more tokenization capabilities.

Since sidechains have their own validators and their own set of custom transactions, it is possible to test new features on XRPL without compromising their functionality. Sidechains rely on a feature called a “federator” that connects them to the mainnet.

The new proposal intends to replace the federator with a “witness,” thus offering more simplicity. This would allow different services to act independently instead of relying on a shared entity. The new design concept addresses such issues as transition throughput and fee escalation. Since transactions are not submitted by the server, users can decide on what specific fee to use.

The proposal would also make it easier for developers to test new features and fix vulnerabilities due to the simplicity of the witness server. The witness would have to watch transactions and attest that they have moved to specially designated accounts. XRPL validators also recently started voting on enabling the XLS-20 amendment that would bring native non-fungible token functionality to the ledger.

Mainstream stablecoin ecosystem Stably USD (USDS) partners with Ripple to release Dollar-pegged stablecoin on XRPL

Veteran blockchain platform XRP Ledger might be the next addition to the array of networks that support regulated multi-protocol stablecoin USDS by Stably USD. According to the official announcement shared by blockchain compaby Stably, it has inked a partnership with U.S.-based digital payments giant Ripple.

With this partnership scored, Ripple is set to provide all necessary technical support for the implementation of Stably USD (USDS) blockchain on XRP Ledger (XRPL) platform. New XRPL-based stablecoin will be issued under USD ticker. Thanks to its integration with U.S.-regulated banking institutions, Stably USD (USDS) will allow partners from 200 countries to seamlessly mint and claim their stablecoins on XRPL.

Kory Hoang, CEO of Stably, highlights that this integration will be the first-ever fiat-to-stablecoin integration for the XRP Ledger ecosystem providing its B2B and B2C customers with a completely new experience: “We are very excited to partner with Ripple and support our fiat-to-stablecoin gateway to the XPRL via USDS. Regulatory compliance, transparency, and security have always been Stably’s top priorities and we look forward to bringing more of these benefits to the XRPL community.”

By Q4, 2022, Stably has already released Stably USD (USDS) on a number of popular blockchains, including the likes of VeChain, Tezos, Harmony, and Polymesh. Also, it yielded investments from a clutch of high-profile VCs, such as Morgan Creek Capital and leading angel investors (CEO of CREAM Labs and VeChain). With its toolkit of solutions — including attestated fiat-collateralized stablecoin USDS — Stably is aimed at building a holistic DeFi/TradFi ecosystem of products for retail and entrepreneurial use in fintech.

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