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XRP Ledger's Ambitious Plan to Dethrone Ethereum Unveiled

Fri, 06/02/2023 - 12:27
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Gamza Khanzadaev
Wietse Wind unveils how XRP Ledger will finally catch up with Ethereum
XRP Ledger's Ambitious Plan to Dethrone Ethereum Unveiled
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In a series of recent tweets, Wietse Wind, a prominent developer and contributor to XRP Ledger, shared his views on the perceived gap between the XRPL and Ethereum or EVM ecosystems when it comes to introducing innovative features and ideas. Wind acknowledged the talent and creativity of XRPL developers but highlighted the challenges they face in implementing core XRPL code and getting ideas approved and integrated by side developers.

XRPL Smart Contracts Platform Announces Hooks V3 Release, Teases Airdrop

To address this issue and ensure the XRP Ledger remains competitive in the rapidly evolving world of decentralized technologies, Wind emphasized the significance of Hooks. He believes that Hooks will provide developers with a blank canvas to unleash their ideas and creativity, allowing them to add their own logic to accounts on XRPL protocol chains.

Wind also noted that the technology is already available on the Hooks V3 testnet, and a comprehensive security audit has been completed and is set to be released soon.

Reaction from XRP community

Addressing concerns from the XRP community, Wind clarified that the side chain would incorporate a representation of XRP, dismissing the idea of issuing a separate token as redundant. He emphasized the importance of genuine utility for any additional tokens.

Other XRPL developers also joined the conversation, with Neil Hartner highlighting the XRPL ecosystem's strength in avoiding smart contract bugs and subsequent thefts that have plagued Ethereum-based ecosystems.

Another Ripple developer known by the nickname "Bias Goose" welcomed the emergence of a competing standard within the XRPL ecosystem. He expressed optimism about the success of both side chains and pledged his support to foster their growth.

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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.