Ripple is taking steps to expand the capabilities of the XRP Ledger (XRPL). They’ve just announced their vision for programmability.
The XRP Ledger Extensibility Team has shared its proposed vision for how developers can integrate custom logic into XRPL features. This aims to improve its functionality while preserving its core strengths—speed and reliability.
Permissionless Programmability for XRPL: Ripple’s Aim
Ripple’s goal is to bring permissionless programmability to XRPL, allowing developers to add custom business logic to the network. This vision focuses on making the XRP Ledger even more flexible while maintaining its simplicity and efficiency.
Source: Ripple
The team has been working on finding the best way to implement programmability and, after gathering feedback from the XRPL community, has decided to use Web Assembly (WASM).
WASM is considered ideal because it’s both efficient and compatible with XRPL’s current setup.
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XRPL EVM Sidechain: Connecting to the Ethereum World
The XRPL EVM Sidechain is designed to complement the XRP Ledger. It will allow developers familiar with the Ethereum ecosystem to develop applications that utilize Solidity and the EVM.
This cross-chain solution offers key benefits, such as the chance to be among the first to build on a new sidechain, connect with the growing XRP community, and easily develop using familiar Ethereum tools. However, it’s important to note this sidechain is not intended to replace mainnet programmability. Instead, it’s an additional resource for projects that require different types of programmability.
Multi-Purpose Tokens (MPTs): Combining the Best of Tokens
The XRP community also introduced Multi-Purpose Tokens, or MPTs. These are presented as a new type of token that mixes the strengths of standard crypto tokens and NFTs.
MPTs allow important details (metadata) to be added, making them more flexible than regular tokens yet less specialized than NFTs.
This new token standard, currently under review, is intended to simplify the tokenization and trading of assets like bonds and real estate, potentially offering greater efficiency and control for financial products.
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Timeline for Development
Ripple has laid out a timeline for these new features, with smart escrows planned for release later this year, followed by smart contracts in the future. By taking small, measured steps, Ripple aims to carefully introduce programmability to XRPL, making it more powerful without sacrificing its efficiency.
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