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New XRP Token, XRP+, Unleashed as Part of Smart Contract Revolution on XRPL

Mon, 08/28/2023 - 12:15
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Gamza Khanzadaev
New game-changing smart contract sidechain 'Xahau' for XRP Ledger presented by Evernode
New XRP Token, XRP+, Unleashed as Part of Smart Contract Revolution on XRPL
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In a groundbreaking move, Evernode, a global permissionless Layer 2 smart contract platform, has unveiled Xahau — the smart contract sidechain for the XRPL ecosystem. At its core, Xahau is a fork of the XRP Ledger's open-source "rippled" codebase, meticulously crafted to accommodate smart contracts — a novel feature referred to as Xahaud.

XRP Ledger Unveils New Milestone for Cross-Chain Bridging Feature

Central to Xahau's capabilities are its standout features. Notably, the XRPL Core remains intact, ensuring the continuity of robust features that have long defined the network. Hooks, a cutting-edge addition, brings smart contract implementation to the fore. These nimble code snippets enforce transaction rules, bolstering security and efficiency.

A revolutionary Burn2Mint liquidity portal binds Xahau to the XRPL, facilitating a two-way flow of assets between the networks. Governance stands as a cornerstone of Xahau. A two-tiered model, involving up to 20 independent validators, oversees key protocol decisions.

Fueling Xahau's operations is its native token, Xahau XRP (XRP+), designed to incentivize validators and empower smart contracts. XRP+ functions as the network's utility token, facilitating transactions and network services. With a supply determined through various amendments, including burned XRP from the XRPL and monthly balance adjustments, the ecosystem's vitality is maintained.

The initial distribution of 600 million Xahau XRP, divided among validators and stakeholders, underscores the commitment to a vibrant and thriving ecosystem.

XRP Holders to Receive This Airdrop, Here's How to Claim

This momentous unveiling reflects developers' dedication to reshaping the landscape of XRP Ledger. Xahau's integration of smart contracts within the XRPL ecosystem can pave the way for a new era of efficiency, security and innovation.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.