XRPL Labs Launches Xahau Ledger to Strengthen Its Influence
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In Brief
XRPL Labs announced the development of Xahau Ledger, a smart contract sidechain for the XRP Ledger.
The new feature aims to bring multifaceted capabilities and drive retail adoption of the XRP Ledger.
Despite the excitement, the XRP altcoin has seen a 1% drop in value over the last 24 hours.
XRPL Labs announced the integration of the Xahau Ledger, a smart contract sidechain, into the XRP Ledger ecosystem. Despite a 1% drop in the altcoin’s value over the past 24 hours, the news has reignited excitement in the XRP community.
Wietse Wind, the founder of XRPL Labs, took to social media platform X (Twitter) to shed light on the ambitious project. He disclosed collaborations with major industry names, including GateHub, Alloy Networks, and EvernodeXRPL.
Wietse Wind said that the company has been working with other organizations for the last two years to enhance and support the XRPL ecosystem.
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 šŖ (@XRPLLabs) August 28, 2023
The XRP’s Sidechain’s Big Role
The smart contract sidechain aims to expand the XRP Ledger’s functionalities, ushering it closer to mainstream retail adoption. Wind asserts these smart contracts to be essential tools for solving everyday challenges.
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
Wind said
He also teased upcoming updates to the Xumm wallet, indicating that it would soon support multiple XRPL Protocol networks, specifically the XRPL Mainnet and Xahau.
According to Wind, these updates align with the broader vision of boosting XRP retail adoption.
The Future of XRP and Xahau Ledger
Wind announced that Xahau might become operational before the end of the year. XRPL Labs views the development as a significant phase in the ongoing evolution of the XRP Ledger ecosystem.
A whitepaper detailing the features and functionalities of Xahau is currently in the works. While the long-term impact remains uncertain, the company envisions it as a potential avenue for new prospects within the XRP Ledger.
As this stage progresses, the XRP community closely monitors the unfolding developments.
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Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.
More articlesNik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.
