Breaking: XRPL Labs Announces XRP Smart Contract Sidechain Xahau
XRPL Labs on Monday said it is becoming part of the Xahau Ledger, a smart contract sidechain for the XRP Ledger ecosystem. The XRP community is excited about the Xahau Ledger, which adds multiple features to the XRPL ecosystem and advances the adoption of XRP and XRP Ledger. This moves the XRP Ledger protocol closer to retail adoption.
XRPL Labs Partners With Xahau Ledger
XRPL Labs, the developer of XRP Ledger self-custody wallet Xumm, on August 28 announced that it is taking part in introducing a whitepaper for the Xahau Ledger. Xahau is a smart contract sidechain for the XRPL ecosystem.
We are proud to be part of the Xahau network (@XahauNetwork) as a launch participant. As stated earlier, we will support multiple chains that use the XRPL protocol and our commitment to the main XRPL remains steadfast. https://t.co/olzsK3veCx
— XRPL Labs 🪝 (@XRPLLabs) August 28, 2023
XRPL Labs founder Wietse Wind also took to X to announce publishing the Xahau whitepaper with GateHub, Alloy Networks, EvernodeXRPL, and others. He revealed that the XRP Ledger-powered smart contracts functionality will allow building things with everyday life utility.
“We will continue to build for the entire XRP Ledger ecosystem, and everything we build will be open for the entire ecosystem to benefit from. We believe a multi-chain XRP Ledger Protocol ecosystem can bring both the proven resilience of XRPL Mainnet & the endless new possibilities of Hooks.”
He also plans to update Xumm wallet to support multiple XRPL Protocol networks like XRPL Mainnet and Xahau. Also, this will allow for meeting the vision of XRP retail adoption. He revealed that Xahau will likely be live by the end of the year.
XRP Price Responds
Traders reacted immediately to the XRPL announcement of the Xahau network, with XRP price jumping more than 0.50%. The trading volume has also increased and the price picking upside momentum.
XRP price currently trades at $0.51, down 2% in the last 24 hours. The 24-hour low and high are $0.515 and $0.529, respectively. However, the overall price action is sideways and trading volume has dipped significantly in the last week.
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