Ripple CTO David Schwartz Talks About New Changes for XRP Ledger

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Fri, 02/28/2020 - 05:59
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Alex Dovbnya
Ripple CTO David Schwartz reveals some new features he proposed for the XRP Ledger during the recent 'Ripple Drop' episode
Ripple CTO David Schwartz Talks About New Changes for XRP Ledger
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During the 19th 'Ripple Drop' episode, David Schwartz, the CTO of blockchain company Ripple, has touched upon numerous improvements to the XRP Ledger. 

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New features 

Schwartz, who has been working on at Ripple Labs for over nine years, says that the XRP Ledger has drastically changed over this period of time. 

From the get-go, they only used the ledger to allow performing transactions almost instantaneously. Then, they moved to other use cases (e.g., a decentralized exchange). 

"We put all that together in a functioning system probably in mid-2012." 

Speaking of new amendments, he mentioned that they fall into such categories as core consensus improvements and new features such as the ability to issue stablecoins and any assets 'pegged to some external value.'   

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Slow evolution 

Schwartz noted that it wasn't as easy as they had initially thought to implement new features. For example, Oracle can simply update its software. However, this is not the case with decentralized networks that require everyone to comply with new rules.   

"If the rules change, people have to run software with new rules."   

This essentially explains why Bitcoin or XRPL are not quick to adopt significant changes. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.