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The XRP Ledger (XRPL) is evolving quickly, and one of its core amendments is going live on-chain. Dubbed the DID amendment, this upgrade might be a game-changer in defusing the complications around decentralized identities in Web3.
XRP Ledger DID amendment: Product of mutual consensus
The DID amendment was launched after passing through the two-week-long activation period. Launching this update is best described as a product of mutual validator consensus, with 30 out of the possible 35 voting in its favor.
Gamza KhanzadaevMayukha Vadari, a RippleX developer, explained what this means for the XRP Ledger. He noted that a DID is roughly equivalent to a fingerprint in the real world. Just like fingerprints, DIDs may not be useful on their own but very valuable in other contexts.
With data control, the major challenge in Web3, the concept of DID is one that many protocols, including Cardano, are actively exploring. Getting DIDs on-chain can serve valuable use cases, especially as they are implemented following the World Wide Web Consortium (W3C).
This guarantees their universal reach. Vadari explained that the user can create a DID document and link it to their on-chain DID object on the XRPL. By its design, no other user can forge anyone’s identity.
XRPL’s broad advancement
Over the past year, XRP Ledger has received several updates, including those related to automated market maker (AMM) enhancements.
Tomiwabold OlajideDespite these, one of the most anticipated upgrades or product launches on the XRPL is the Ripple stablecoin RLUSD. With no definitive stablecoin on-chain, RLUSD will help turbocharge all liquidity pools on the protocol.
Though the exact timeline for the launch of RLUSD is unknown, rigorous testing is underway, with millions of the stablecoin minting, burning and transfers recorded in the past few months. Ultimately, the goal is for XRP Ledger to compete with its rival layer-1 solutions.
Tomiwabold Olajide
Dan Burgin
Alex Dovbnya
Vladislav Sopov