Share this article
Ripple Proposes Adding Federated Sidechains
Chief Technology Officer David Schwartz cites demand from users for smart contract implementation.
Updated Sep 14, 2021, 1:07 p.m. Published Jun 8, 2021, 8:29 a.m. 1 min read
Ripple Chief Technology Officer David Schwartz proposed introducing federated sidechains to enable implementation of smart contracts adjacent to the XRP Ledger.
- Ripple has resisted smart-contract capabilities because of the risk of compromising the focus on payments, Schwartz wrote in a blog post Monday.
- Demand, however, has increased with the growth of decentralized finance (DeFi).
- Federated sidechains for the XRP Ledger would enable developers to implement native smart contracts that interact with XRP and the XRP Ledger, while keeping the ledger "lean and efficient," Schwartz said.
- They would allow for more specialized projects to be built using Ripple's functionality without compromising the security or efficiency of the ledger because they would be built on sidechains acting as their own blockchains.
Read more: Ripple Touts Role for XRP in Central Bank Digital Currency White Paper
More For You
XRP lost a key support zone after another failed breakout attempt, with traders now watching whether the months-long compression pattern resolves lower.
What to know:
- XRP slipped below the $1.35 level after a failed breakout near $1.36, reinforcing short-term bearish momentum within a recently tight trading range.
- Traders are focused on the $1.30 to $1.31 support zone, where a decisive breakdown could open downside risk toward roughly $1.14.
- Analysts remain divided on whether XRP’s structure...
Top Stories
