- Xahau Network, an innovative sidechain in the XRP Ledger ecosystem, has officially gone live in mainnet, marking a significant milestone for blockchain enthusiasts and developers.
- This sidechain is the first within the XRPL community to successfully implement smart contracts functionality, ushering in a new era of possibilities for decentralized finance (DeFi) and Non-Fungible Tokens (NFTs).
Xahau Network Makes a Grand Entrance
The Xahau Network, distinguished as the first programmable network within the XRPL ecosystem, has successfully transitioned to mainnet, beginning its block production journey. The event, highly anticipated by the blockchain community, occurred on October 31, 2023, at approximately 3:00 p.m. (UTC). The culmination of over two years of dedicated development work, Xahau’s team proudly showcased the codebase of their mainnet client software through a shared screenshot.
— 📨 Super-thread on #Xahau —
This thread contains writings on Xahau, a new smart contract-enabled sidechain on the #XRPL ecosystem.
1⃣ What Xahau is.
2⃣ Xahau's features & proposition.
3⃣ Why there is a core need for Xahau. pic.twitter.com/YCltDDsqJa
— Xahau Community 🪝 (@XahauCommunity) October 31, 2023
This display revealed 15 active proposers, also known as validators, and 20 peers seamlessly connected to the blockchain.
From its inception, the Xahau Network has demonstrated exceptional speed in comparison to the XRPL mainnet, thanks to its initially low transactional volume. According to the official explorer on XRPL.org, the network adds a new block to the blockchain every three seconds. By the time of this article’s publication, more than 32,000 blocks have been validated and confirmed by the Xahau Network.
A Historic Day for XRP Ledger
In a remarkable coincidence, the launch of Xahau Network’s mainnet aligns with the 15th anniversary of Satoshi Nakamoto publishing the Bitcoin (BTC) whitepaper. This synchronicity has not gone unnoticed by the XRPL community, adding to the celebratory atmosphere surrounding the event.
Future Prospects: DeFis and NFTs
The XRPL community has expressed widespread optimism regarding the Xahau Network’s mainnet launch. A series of auctions have been initiated to support the funding of Xahau’s independent node, alongside RPC endpoints and a community-driven validator. Additionally, there is an expectation that the implementation of DeFi functionalities, starting with native Automated Market Maker (AMM) mechanisms, will be significantly accelerated with the activation of Xahau’s mainnet.
This development is eagerly anticipated by XRP fans, as it is poised to bring about a new era of innovation and efficiency within the blockchain space.
While the “regular” AMM proposal on XRPL has only achieved 17.4% of the required consensus at this time, the community remains confident and enthusiastic about the future potential of DeFis and NFTs on the XRP Ledger, thanks to the pioneering efforts of the Xahau Network.
Connect with Collin Brown on X (Twitter) for valuable market insights, frequent updates, and a touch of humor!