Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Emi Yoshikawa, Ripple's VP of strategy and operations, has shared more details on the decentralized ID (XLS-40d) proposal that recently went live. Earlier, the research team released a spec for native support of decentralized identity (XLS-40d) for community review.
According to Yoshikawa, the decentralized ID (XLS-40d) currently proposed to the XRPL community is DID as a native feature of the protocol layer, compliant with the W3C DID standard.
現在XRPLコミュニティに提案されている分散型ID(xls-40d)は、W3CのDID規格に準拠した、プロトコルレイヤーのネイティブ機能としてのDID。
その為、安全かつ標準化されたDIDなので、今後XRPLの様々なユースケース(DeFi、tokenization)を支えるenabling techとして活躍してくれそうです。…— Emi Yoshikawa (@emy_wng) May 5, 2023Can Bitcoin (BTC) Reach $100,000 This Week? 136% Pepe (PEPE) Rally Makes Memes Look Like Jokes, Ethereum (ETH) Second Skyrocketing Incoming?XRP Hits New 2024 High Amid Gensler Resignation RumorsXRP Denies Death Cross as Price Suddenly Jumps 8%"Bitcoin Is Going Ballistic", Michael Saylor Says As BTC Holds Above $90,000
The World Wide Web Consortium's (W3C) standardized Decentralized Identifiers (DIDs) enable verifiable, self-sovereign digital identities and are designed to be compatible with any distributed ledger or network.
For that reason, Yoshikawa says DID is standardized, so it seems that it will play an active role as an enabling technology that supports various use cases (DeFi, tokenization) of XRPL in the future.
The XLS-40d proposal aims to define a DID format for XRP Ledger that confirms with W3C DID standards that can be created, owned and controlled by any XRPL account holder.
It would also define DID implementation methods that can be used by any service, wallet or application, as it aims to leverage existing (and emerging) decentralized identity standards proposed by the W3C.
XRPL's upcoming developments
On Feb. 22, Ripple developers put forth a new interoperability standard (XLS-38d) that will allow for a cross-chain bridge to enable interoperability between various blockchain networks.
Regardless of the underlying protocols or programming languages used by different blockchains, the proposed standard will allow users to transfer digital assets and data between them.
Tomiwabold OlajideThis would expand the use cases and adoption of XRP Ledger by enabling tokens from one blockchain to be locked in an account on XRP Ledger while an equivalent number of tokens are issued on another blockchain.
Over one million assets have been minted on the ledger since XLS-20 went live on the mainnet. Meanwhile, sidechains and the automated market maker (AMM) amendment are coming to a close and will soon undergo third-party security reviews.
Arman Shirinyan
Alex Dovbnya
Dan Burgin
U.Today Editorial Team
Vladislav Sopov