Canary

Maker

Safety

Flare

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/xrp-ledger-seeks-testing-ground-for-enhanced-safety" rel="noopener noreferrer nofollow">XRP Ledger Seeks Testing Ground for Enhanced Safety</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/ripples-market-struggle-amidst-sec-lawsuit-key-support-and-resistance-levels" rel="noopener noreferrer nofollow">Ripple</a> Labs and the <a href="https://en.bitcoinhaber.net/bitcoin-breaks-new-record-while-ethereum-hits-2024-peak" rel="noopener noreferrer nofollow">XRP</a> Ledger community are advocating for the creation of a Canary Network. This initiative, led by Xumm Wallet co-founder Wietse Wind, is aimed at providing a thorough testing environment for new updates and applications before they are launched on the main XRP Ledger network. Wind believes that a Canary Network could significantly reduce the risk of technical issues associated with new releases.</p>
<h2 id="automated-market-maker-halts-due-to-flaw">Automated Market Maker Halts Due to Flaw</h2>
<p style="text-align: justify">The enthusiasm for the Automated Market Maker (AMM) on the XRP Ledger was quickly dampened after an error brought the feature to a standstill. Wind suggests that having a Canary Network could allow for early detection and resolution of such problems before they impact the mainnet.</p>
<p style="text-align: justify">Wind’s vision for the Canary Network includes a unique set of assets, such as a native token and stablecoins, which mirror those on the main XRP Ledger. He insists on creating a testing protocol that can simulate real-world conditions to ensure the reliability of the network. Additionally, Wind emphasizes that the Canary Network should embrace decentralization to involve a wide range of participants, including developers and traders.</p>
<h2 id="aligning-with-other-layer-1-networks-strategies">Aligning with Other Layer-1 Networks’ Strategies</h2>
<p style="text-align: justify">Taking cues from established networks such as Flare and Songbird, the XRP Ledger’s Canary Network aims to follow the example set by <a href="https://en.bitcoinhaber.net/ethereum-futures-contracts-gain-momentum-on-leading-crypto-exchanges" rel="noopener noreferrer nofollow">Ethereum</a> and its numerous test networks. Ethereum uses these networks to vet major updates, ensuring smooth transitions to the mainnet.</p>
<p style="text-align: justify">While the proposal for the XRP Ledger’s Canary Network is gaining traction, the broader community is waiting to see how discussions will unfold. Despite a significant setback with the AMM feature, developers are actively working on a fix, and the network is expected to resume operations soon. Currently, XRP is trading at $0.63, indicating ongoing activity in the market.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/xrp-ledger-seeks-testing-ground-for-enhanced-safety" rel="noopener noreferrer nofollow">XRP Ledger Seeks Testing Ground for Enhanced Safety</a></h5>

XRP Ledger Seeks Testing Ground for Enhanced Safety

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