- XRP Ledger releases version 2.0, introducing XLS-38 Cross-Chain Bridge and XLS-40 Decentralized Identity, alongside other core ledger and API updates.
- The new features are set to enhance interoperability and user control over online identities, aligning with W3C standards.
XRP Ledger’s Leap Forward with Version 2.0
The development team behind the XRP Ledger has officially rolled out the highly anticipated version 2.0 of the “rippled” software, marking a significant advancement in the platform’s capabilities and services.
XLS-38 Cross-Chain Bridge: Bridging the XRPL Ecosystem
A notable feature of this update is the XLS-38 Cross-Chain Bridge. This groundbreaking technology facilitates the movement of XRP and other fungible tokens issued on the XRPL between the XRPL Mainnet, XRPL Sidechains, and the upcoming EVM sidechain. This bridge enhances the XRPL ecosystem’s interoperability, allowing for seamless and secure transactions across different blockchain networks. The Cross-Chain Bridge’s integrity is safeguarded by independent witness servers, which authenticate transactions crossing between chains.
The XRP Ledger developers have released the latest version of the`rippled`software, version 2.0. This code powers the core #XRPL.
This update introduces:
1️⃣ XLS-38 Cross-Chain Bridge
2️⃣ XLS-40 Decentralized Identity
3️⃣ Core ledger updates
4️⃣ API version 2https://t.co/eg2HSrpE4N
— RippleX (@RippleXDev) January 10, 2024
XLS-40 Decentralized Identity: Empowering User Control
Another key amendment in this release is the XLS-40 Decentralized Identity (DID). This innovative system grants users complete sovereignty over their online identities in a self-sovereign manner. Adhering to the World Wide Web Consortium (W3C) standards, the XLS-40 DID is designed to be interoperable across various distributed ledgers and networks, providing verified, self-sovereign digital identification. This lightweight amendment introduces a new ledger object that can be created, updated, and deleted through associated transactions, empowering users with enhanced control and privacy.
Enhancements and Updates in the XRPL Core and API
In addition to these major features, version 2.0 encompasses several core ledger updates and API enhancements. The API v2 release focuses on refining the user experience by eliminating obsolete fields and methods, renaming commonly misinterpreted fields, and ensuring greater response consistency. This update addresses various issues, including those related to authorized trustlines and discrepancies in exchange rates on offers compared to the order book rate.
The Amendment Process: Community Involvement and Validation
To implement these features on the XRPL Mainnet, amendments involving core protocol changes undergo a rigorous validation process. This involves a voting procedure where at least 80% of validators must approve the amendment, a consensus maintained for a minimum of two weeks. Upon meeting these conditions, the amendment is activated, and the functionalities outlined in the XLS standard go live on the mainnet. This democratic process ensures each amendment is thoroughly vetted and accepted by the XRPL community.
The release of version 2.0 of the XRP Ledger represents a monumental step in the evolution of blockchain technology, introducing powerful tools for cross-chain interoperability and decentralized identity management. These enhancements position the XRPL at the forefront of blockchain innovation, offering users and developers a more versatile, secure, and user-centric platform.
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