Maker

David Vance

<a href="https://bitcoinworld.co.in/xrpl-amm-agreement/" title="Ripple CTO looks for community agreement to implement XRPL AMM features." rel="noopener noreferrer nofollow"></a>
David Schwartz has postulated that swift implementation of these changes could occur within a mere fortnight, contingent upon receiving overwhelming support for the proposed amendment.
The Chief Technology Officer of Ripple, David Schwartz, has passionately advocated for the backing of an Automated Market Maker (AMM) feature within the XRP Ledger (XRPL) validators’ community consensus. However, this endorsement hinges solely on the collective agreement of the XRPL community.
Taking to X (formerly known as Twitter), Schwartz delved into the intricacies of XRPL’s AMM feature. In his initial post, Schwartz alluded to AMMs as an enthralling facet of decentralized finance.
The XRP Ledger stands as a decentralized blockchain, with XRP serving as its native digital asset. It has gained acclaim for its swiftness and scalability, rendering it highly suitable for diverse financial applications, including cross-border payments and remittances.
In response to a community member’s inquiry regarding the timeframe for the activation of AMMs following a governance vote, Schwartz asserted that, should the majority rally behind the amendment, the alterations could be implemented within a mere fortnight.
Expanding on the significance of a majority consensus, Schwartz underscored that, to the best of his knowledge, no validators currently lend their endorsement to the vote. The introduction of the AMM feature coincided with the release of rippled version 1.12.0, which also brought forth the potential for a clawback feature. The integration of an AMM extends beyond the introduction of a novel trading engine; it also facilitates seamless integration with the XRPL decentralized exchange.
Despite the profound significance attached to this feature, Schwartz offered guidance to validators, urging them against autonomous voting to advocate for these alterations. Instead, he underscored the need for the community to achieve a consensus first, with validators subsequently casting an overwhelming “YES” vote when they perceive a unified community stance, backed by sufficient node endorsements.
In addition to his prominent role at Ripple, Schwartz is celebrated for his informative articles and his unwavering commitment to championing the cause of decentralization. Recently, he dispelled misconceptions surrounding the clawback feature, frequently misconstrued as an intrusion on XRPL users. He clarified that the feature’s primary objective is to shield developers from potential legal entanglements within the ecosystem.
The post <a rel="noopener noreferrer nofollow" href="https://bitcoinworld.co.in/xrpl-amm-agreement/">Ripple CTO looks for community agreement to implement XRPL AMM features.</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://bitcoinworld.co.in">BitcoinWorld</a>.

Ripple CTO looks for community agreement to implement XRPL AMM features.

ItsBitcoinWorld

Other articles published on Oct 9, 2023

ESMA Releases Second Consultative Paper on MiCA Mandates, Focuses on Sustainability and Transparency

Biggest Crypto Gainers Today on DEXTools – VS, OPOE, QLINDO

Bitcoin Price Prediction: BTC Stabilizes at $27,800: OpenAI CEO Praises BTC; Putin Forewarns US D...

Meet the Nigerian students who won ₦50m at Wema Bank’s Hackaholics 4.0

Crypto Industry Funding in Last Quarter Drops to 2020 Levels: Report

Critic Addresses ConsenSys CEO as “Corrupt Fraudulent Hypocrite”

Join our free newsletter for daily crypto updates!