Ethereum

2024

Ripple’s recent <a href="https://x.com/Ripple/status/1830779344291266919?t=s5nyftpImlUvNmE77I8gyA&amp;s=19" rel="nofollow">announcement</a> of plans to introduce native smart contracts on the XRP Ledger (XRPL) has ignited significant debate and tension within the XRP community. This decision represents a substantial departure from Ripple’s previous stance, which had positioned the XRPL as a fixed-function ledger more suited for traditional financial transactions. 
Ripple’s strategy involves developing an Ethereum Virtual Machine (EVM) sidechain and implementing native smart contracts directly on the XRPL Mainnet. This aims to enhance programmability and expand the XRPL’s developer ecosystem. 
<h2 id="strong-the-community-s-mixed-response-strong">The Community’s Mixed Response</h2> 
This shift has drawn mixed reactions, particularly from XRPL Labs, a key contributor to the XRPL ecosystem and developer of the popular <a href="https://timestabloid.com/game-changing-partnership-set-to-take-xrp-to-over-50-countries/">Xaman wallet</a>. XRPL Labs has been advocating for native smart contracts for several years through the development of Hooks, a Layer 1 smart contract solution designed specifically for the XRPL. 
Wietse Wind, Director of XRPL Labs, <a href="https://x.com/WietseWind/status/1830876225813811222?t=Rek4sH7KAn922IMD9hh4eg&amp;s=19" rel="nofollow">expressed</a> frustration and disappointment with Ripple’s change in direction in an open letter. He emphasized the significant effort and challenges faced by XRPL Labs in developing Hooks, despite initial skepticism and limited support. 
Despite these challenges, XRPL Labs remains committed to the eventual launch of Hooks. Wind expressed mixed emotions about Ripple’s shift toward Layer 1 smart contracts, feeling that this recognition has come too late. 
One of the most pressing issues raised by Wind is the risk of fragmenting the XRPL ecosystem. He fears that Ripple’s decision to pursue native smart contracts on the mainnet could divide the developer community, with some supporting Ripple’s new direction and others continuing to back Hooks. 
Wind called on Ripple to support existing technologies like Hooks instead of developing separate solutions that could split the community and weaken the overall ecosystem. 
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<h2 id="strong-david-schwartz-s-response-strong">David Schwartz’s Response</h2> 
Ripple CTO David Schwartz <a href="https://x.com/JoelKatz/status/1830926314603208953?t=yIdVIh4p9xUArBtfj3SUjg&amp;s=19" rel="nofollow">addressed</a> Wind’s concerns by clarifying that Ripple spoke to Wind and XRPL Labs before sharing the announcement. He also mentioned the company’s continued support for Hooks and its potential. However, he noted that further refinement might be necessary to make Hooks suitable for the XRPL Mainnet. 
Schwartz emphasized Ripple’s commitment to exploring the best ways to integrate smart contracts, stressing the importance of continued collaboration with the developer community. 
Wind expressed his readiness to support progress on XRPL, regardless of Hooks’ involvement. Others in the community also weighed in, as Yassin Mobarak, founder of Dizercapital, backed Wind’s position, but highlighted that Ripple’s goals might not always be the same as the community’s, as the company’s primary obligation is to its shareholders. 
However, smart contract introduction would put the XRPL on par with Stellar, a prominent rival, that <a href="https://timestabloid.com/stellar-xlm-rivals-xrp-with-first-smart-contract-on-mainnet/">introduced smart contracts</a> earlier in 2024 and is a significant step toward the future. 
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. 
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The post <a href="https://timestabloid.com/ripple-cto-responds-to-discontent-about-xrp-ledger-smart-contracts/">Ripple CTO Responds to Discontent About XRP Ledger Smart Contracts</a> appeared first on <a href="https://timestabloid.com">Times Tabloid</a>.

Ripple CTO Responds to Discontent About XRP Ledger Smart Contracts

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