HomeNewsRipple: New XRPL Chain Passes Security Audit, Poised to Revolutionize XRP Ecosystem...

Ripple: New XRPL Chain Passes Security Audit, Poised to Revolutionize XRP Ecosystem – Can It Push The Price to $10?

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    • XRPL Labs announces the successful conclusion of a security audit for its highly anticipated Hooks amendment, signifying its readiness to introduce an XRPL side chain leveraging XRP.
    • Notably, the new XRPL chain has no connections with Ripple or the United States, separating itself from the regulatory complexities surrounding the parent organization.

In the rapidly evolving landscape of blockchain technology, XRPL Labs has recently announced an important milestone. The firm, renowned for its work in creating bespoke applications and services for the XRP Ledger (XRPL), has confirmed the successful completion of a comprehensive security audit for its Hooks amendment.

The Hooks amendment is set to bring a novel XRPL side chain that employs XRP as a native asset. The extensive security audit, carried out by FYEO, a leading cybersecurity firm, concentrated on evaluating the Hook API, execution environment, and other essential protocols of the framework. The results are indeed promising, with XRPL Labs reporting no major security flaws discovered.

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This announcement arrives months after Wietse Wind, the founder of XRPL Labs, unveiled the Hooks amendment and informed that a security audit contract had been signed. It was previously reported that Hooks would be launched after the successful completion of the audit and incorporation of any suggested enhancements. The Crypto Basic, in its April report, confirmed FYEO as the selected firm to conduct the Hooks amendment protocol security assessment.

A significant landmark for the XRP community, the Hooks amendment is expected to unlock a wealth of opportunities for the XRP Ledger. The development has already ignited excitement among XRP enthusiasts, as seen in a tweet by an anonymous community member asking about the Hooks amendment timeline.

In response, Wind clarified that the launch of Hooks would not follow the traditional “fork” process, but instead would introduce a complementary sidechain harmonizing seamlessly with the existing XRPL ecosystem. Wind estimated a Hooks launch target of “somewhere 2023.”

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In another noteworthy revelation, Eri, a leading XRP community influencer, made clear that the new XRPL chain linked to the Hooks amendment will operate without any ties to Ripple or the United States. However, the chain is confirmed to use XRP as a native asset.

Eri pointed out the mounting interest from enterprises to leverage XRP and underscored the necessity of driving innovation in this sphere. The Hooks amendment stands as a testament to this forward thrust, devoid of US regulatory constraints.

With the security audit successfully navigated, the XRPL Labs team inches closer to incorporating the Hooks amendment into the XRPL, fostering optimism for introducing new and compelling services for XRPL users.

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Jane Smith
Jane Smith
As a Bitcoin Journalist, I am dedicated to reporting the latest developments in cryptocurrency, with a particular focus on Bitcoin. Through extensive research and interviews with industry experts, I provide accurate and up-to-date information on the ever-evolving world of cryptocurrencies. My goal is to help readers stay informed and make informed decisions regarding their investments in this rapidly changing field.
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