Invest In Crypto News
  • Home
  • Latest News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
    • Blockchain News
    • Doge News
    • NFT News
    • Video
    • Market Analysis
    • Business
    • Finance
    • Politics
    • Mining
    • Regulation
    • Technology
  • Top 10 Cryptos
  • Market Cap List
  • IC DAO
  • Donations
  • Contact
  • Buy Crypto
  • BLOG
No Result
View All Result
Invest In Crypto News
  • Home
  • Latest News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
    • Blockchain News
    • Doge News
    • NFT News
    • Video
    • Market Analysis
    • Business
    • Finance
    • Politics
    • Mining
    • Regulation
    • Technology
  • Top 10 Cryptos
  • Market Cap List
  • IC DAO
  • Donations
  • Contact
  • Buy Crypto
  • BLOG
No Result
View All Result
Invest In Crypto News
No Result
View All Result

Smart Contracts On The XRP Ledger, Ripple’s Change Of Heart Worries Community

CryptoExpert by CryptoExpert
September 4, 2024
in Altcoin News
0
Ripple XRP
  • Facebook
  • Twitter
  • Pinterest


You might also like

Zcash Activates NU7 Upgrade as Private Payments Become 3x Faster

JPMorgan’s Blockchain Push Could Be Good News for Bitcoin

Trump Crypto Tokens Crash as Democrats Take Control of Congress

On September 2, Ripple announced ongoing plans to introduce native smart contracts to the XRP Ledger (XRPL) mainnet. Some members of the XRPL developer community haven’t taken this announcement kindly, especially the Director of XRPL Labs, Wietse Wind, who wrote an open letter to Ripple. 

The Sudden Change To XRPL Smart Contracts Is “Surprising”

Wind mentioned in the open letter on the X (formerly Twitter) platform that the sudden change in Ripple’s stance about introducing native smart contracts is surprising. He noted that three mongs ago, Ripple’s Chief Technology Officer (CTO) David Schwartz had made it clear at the XRP Ledger Apex that there was no room for smart contracts on the XRP Ledger. 

Back then, Schwartz mentioned that the XRPL mainnet was a “fixed function ledger” and that smart contracts belonged on other networks such as the EVM Sidechain and Xahua. Wind remarked that Ripple’s turnaround makes it hard to sustainably grow the thriving ecosystem with such “whimsical pivots by the organization consistently pushing for the direction of the core protocol.”

The Director of XRPL Labs further stated that the lack of direct communication from Ripple’s leadership about this pivotal change in stance and the reasons for it is “disappointing.” Wind claimed that learning about this development from back channels rather than direct dialogue highlights the current state of collaboration within the developer ecosystem. 

Betfury

Interestingly, Wind revealed they had proposed and championed the idea of native smart contracts on the XRPL mainnet years ago. However, Ripple seemed to have brushed off the idea. Despite the lack of communication from Ripple, the developer mentioned that they were glad to see the change in perspective but added that they feel this realization comes “frustratingly late and at a cost to those who have been driving innovation in the ecosystem.”

In line with this, Wind declared that the XRPL developer ecosystem stands at a “critical juncture.” He stated that Ripple faces a clear choice of either embracing and supporting the existing Hooks technology on the mainnet or pursuing a separate path that “risks alienating dedicated developers and fracturing the ecosystem.” 

Hooks was the layer-1 smart contract solution that Wind and his team had begun to work on after Ripple seemed reluctant to introduce a native smart contract on the XRPL mainnet.

Ripple’s CTO Responds To Open Letter

Ripple’s CTO, David Schwartz, responded to Wind’s open letter, explaining Ripple’s side of the situation. Contrary to Wind’s claims about lack of direct communication, Schwartz revealed that the RippleX team called him before the announcement went live. The Ripple CTO also revealed that his firm had supported and even funded Hooks from the beginning but clarified that it would only support Hooks as an amendment on the mainnet. 

Schwartz also mentioned that there is a lot of innovation in Hooks, as XRPL Labs proposed initially, but believes some updates could make it a better option for XRPL mainnet. In an earlier X post, the Ripple CTO explained why he didn’t support Hooks being the smart contract solution on the XRPL mainnet. 

He remarked that he wasn’t convinced it was “small and safe enough to deploy on the mainnet without significant risk to things like transaction price stability and performance payments.”

Wind responded to Schwartz, stating that he was happy about the change of heart and excited for what was coming to the mainnet with or without Hooks, which his team developed. He added that his major concern was just the lack of communication on Ripple’s part as stakeholders in the developer ecosystem deserve an explanation when the crypto firm decides to pivot as they have done in this situation. 

Price recovers from lows | Source: XRPUSDT on Tradingview.com

Featured image created with Dall.E, chart from Tradingview.com



Source link

  • Facebook
  • Twitter
  • Pinterest
CryptoExpert

CryptoExpert

Recommended For You

Zcash Activates NU7 Upgrade as Private Payments Become 3x Faster

by CryptoExpert
November 6, 2026
0
zcash activates nu7 upgrade

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Zcash activates NU7 network upgrade, introducing faster transaction confirmations, increased private-payment capacity, and significant changes...

Read more

JPMorgan’s Blockchain Push Could Be Good News for Bitcoin

by CryptoExpert
November 6, 2026
0
JPMorgan's Blockchain Push Could Be Good News for Bitcoin

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure JPMorgan is continuing to expand its involvement in blockchain technology and tokenized financial products, highlighting...

Read more

Trump Crypto Tokens Crash as Democrats Take Control of Congress

by CryptoExpert
November 6, 2026
0
trump crypto tokens

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Trump crypto tokens led losses across the digital asset market after Democrats secured control of...

Read more

Thailand’s SEC Moves to Block Bitget as It Files Criminal Complaint

by CryptoExpert
November 5, 2026
0
thailand's SEC

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Thailand’s SEC (Securities and Exchange Commission) has filed a criminal complaint against BG Limited, the...

Read more

South Korea Crypto Tax Delay Could Boost Bitcoin Adoption Until 2029

by CryptoExpert
November 5, 2026
0
South Korea Crypto Tax Delay Could Boost Bitcoin Adoption Until 2029

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure South Korea’s crypto tax delay could become an encouraging development for Bitcoin investors as the...

Read more
Next Post
news-image

North Korean Hackers Eyeing Big Attack on Crypto ETFs

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Browse by Category

  • Altcoin News
  • Bitcoin News
  • Blockchain News
  • Business
  • Doge News
  • Ethereum News
  • Finance
  • Market Analysis
  • Mining
  • NFT News
  • Politics
  • Regulation
  • Technology
  • Trending Cryptos
  • Video

Sitemap

  • Market Cap
  • Donations
  • Trading
  • Mining
  • Contact

Legal Information

  • Privacy Policy
  • Anti-Spam Policy
  • Copyright Notice
  • DMCA Compliance
  • Social Media Disclaimer
  • Terms Of Service

Categories

  • Altcoin News
  • Bitcoin News
  • Blockchain News
  • Business
  • Doge News
  • Ethereum News
  • Finance
  • Market Analysis
  • Mining
  • NFT News
  • Politics
  • Regulation
  • Technology
  • Trending Cryptos
  • Video

© Copyright 2024 InvestInCryptoNews.com

No Result
View All Result
  • Home
  • Latest News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
    • Blockchain News
    • Doge News
    • NFT News
    • Video
    • Market Analysis
    • Business
    • Finance
    • Politics
    • Mining
    • Regulation
    • Technology
  • Top 10 Cryptos
  • Market Cap List
  • IC DAO
  • Donations
  • Contact
  • Buy Crypto
  • BLOG

© Copyright 2024 InvestInCryptoNews.com

This website is using cookies to improve the user-friendliness. You agree by using the website further.

Privacy policy
bitcoin
Bitcoin (BTC) $ 75,875.00
ethereum
Ethereum (ETH) $ 2,239.62
tether
Tether (USDT) $ 0.999112
bnb
BNB (BNB) $ 693.56
xrp
XRP (XRP) $ 1.18
usd-coin
USDC (USDC) $ 0.999672
solana
Solana (SOL) $ 90.13
tron
TRON (TRX) $ 0.317889
staked-ether
Lido Staked Ether (STETH) $ 2,265.05
figure-heloc
Figure Heloc (FIGR_HELOC) $ 1.04

Pin It on Pinterest

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?