- The XRP Ledger (XRPL) is launching the Hooks sidechain, a novel ledger designed to support XRP as its native asset.
- The Hooks sidechain fosters a fertile environment for research and development activities, promising faster advancements within the XRPL ecosystem.
In a seminal announcement, the XRP Ledger (XRPL) ecosystem disclosed plans to unveil the Hooks sidechain. This separate ledger has been meticulously engineered to support XRP as its primary asset, opening a realm of unprecedented functionalities.
Wo Jake, an independent evangelist for Evernode and developer of HotPocket, recently shared the news on Twitter regarding the imminent launch of the Hooks sidechain. The inclusion of XRP as its native asset within this new ledger is set to bring transformative features and applications to the XRPL ecosystem.
With Hooks, developers are able to build and deploy a variety of products & features without needing to push changes directly on rippled, which may take up months to even show up on the network for voting.
This is AMAZING, the rate of R&D on the XRPL ecosystem will sky rocket.
— Wo Jake (@woj4ke) June 4, 2023
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Earlier this year, The Crypto Basic highlighted an XRPL developer’s statement regarding the proposed sidechain’s security audit and ongoing enhancements. According to Jake’s recent update, the Hooks sidechain utilizes the XRPL consensus protocol to pioneer a suite of inventive features and expansion opportunities previously unfathomable within the XRP Ledger.
Jake underscored the key benefit of Hooks, enabling developers to construct and launch diverse products and features without the protracted process of implementing direct modifications on the foundational network. As Jake elucidated,
“With Hooks, developers are able to build and deploy a variety of products & features without needing to push changes directly on rippled, which may take up months to even show up on the network for voting.”
Interestingly, the Hooks sidechain mirrors the mainnet closely, promising a seamless transition for developers, teams, and enterprises from the XRPL. The similarity in interface, including the ledger framework and consensus protocol, positions the Hooks sidechain as a hotbed for research and development activities, propelling rapid progress in the XRPL ecosystem.
Further, Jake indicated that Hooks would augment the utility derived by XRPL users from the network. As the Hooks sidechain and associated solutions such as Evernode gain momentum, XRP’s perception is expected to evolve beyond its current status as a gas token. This evolution implicates that the network’s applications, user base, and liquidity would stimulate natural demand for XRP, casting it as a pivotal asset within the XRPL ecosystem.
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