Programmablity, i.e., the opportunity to support smart contracts and perform operations that require comptational power, can be achived in Ethereum (ETH) and XRP Ledger in different ways. Some aspects of XRPL's design pave the way for the flexibility and impressive performance of Hooks, a dev says.
Native features and token standards: Wo Jake explains difference between Ethereum's smart contracts and Hooks
XRP Ledger- and Ethereum-based software (Hooks and smart contracts respectively) are built differently. While Ethereum (ETH) became feature-rich thanks to "standards and cool stuff" built since its launch in 2015, XRP Ledger's design has a variety of features "natively."
I don’t think people still *fully* understand the technical & business implication on a #Hooks-enabled network.
— Wo Jake 🪝 (@woj4ke) June 25, 2023
The #XRPL comes with a variety of features natively, and with Hooks (smart contracts) & Evernode (L2), we’re going to have a LOT of flexibility and leverage.
This statement was shared by Wo Jake, independent developer of XRP Ledger and its flagship second layer solution Evernode. In his recent tweet he admitted that not many people actually understand the technical and business implications of XRP Ledger with Hooks.
Jake is also sure that the combination of the feature-rich core design of XRP Ledger, its Hooks functionality and L2 scaling tools unlocks marvelous opportunities in terms of both flexibility and leverage.
However, there are a lot of functions that are still waiting to be implemented into XRP Ledger's technical design:
We are the early builders, we have the chance to shape an entire network.
XRP token, a core native asset of XRP Ledger, is changing hands at $0.48 on major spot trading platforms. It lost 1.38% of its valuation in last 24 hours.
XRPL Hooks: Audit passed, what's next?
As covered by U.Today previously, XRPL Hooks, a simple smart contract for XRP Ledger, finally accomplished a major milestone this month.
On June 6, 2023, it was reported that cybersecurity firm FYEO completed the audit of XRPL Hooks' codebase with no major bugs disclosed.
Now, the discussion is gaining steam regarding the next phases of Hooks Amendment implementation in mainnet. Some seasoned XRP developers, including Scott Chamberlain, a co-founder of Evernode, are sure that it is better to activate this function on an isolated sidechain.
Arman Shirinyan
Alex Dovbnya
