The lack of programmable smart contracts on the XRPL ecosystem has been a limitation for the Ripple-backed XRP Ledger. Smart contracts are essential for the mainstream adoption of blockchain technology as they enable enterprises to build interoperable and scalable applications. To address this limitation and make the XRPL more competitive in the blockchain industry, the Xahau network has launched its mainnet.
The Xahau network operates alongside the XRPL as an independent layer, expanding its use cases. One of the key features of the Xahau network is the introduction of native automated market makers (AMM). AMMs have been stalled on the XRP Ledger due to insufficient validator support. Amendments on XRPL AMM meant to be introduced in V1.12.0 have not been enabled because 29 validators have voted against it, compared to only six in support.
The Xahau network aims to provide several features and components that are lacking on the XRPL, including hooks smart contracts. These features will be made available for DeFi developers, allowing them to continue building with the same quality services on the Xahau network. The Xahau network uses a native token called Xahau XRP (XRP+), which is not meant for speculation like meme coins. Instead, it is designed to reward validators.
To link the Xahau network with the XRPL, a one-way Burn2Mint liquidity portal has been created. This portal allows users to clone their XRPL account address on Xahau and burn XRP on the mainnet in exchange for a matching number of Xahau XRP. The Xahau network validators have already confirmed 32k blocks, showcasing its potential to disrupt smart contracts on the XRP Ledger.
What makes the development of the Xahau Ledger unique is that it has been driven by the Xahau Launch Alliance, a group of five experienced entities within the XRPL community. These entities have taken on the cost and risk of establishing the new network without an initial coin offering (ICO). This shows the commitment and belief in the potential of the Xahau network.
It is important to note that the Xahau network and the XRP Ledger have a shared set of base attributes, enabling seamless interoperability. However, the developers of the Xahau network caution investors that the Xahau XRP token is not intended for speculative purposes like meme coins. Instead, it serves a specific function within the network.
In conclusion, the launch of the Xahau network on the XRPL mainnet brings programmable smart contracts and other key features to the Ripple-backed blockchain. This expansion widens the use cases and competitiveness of the XRPL in the blockchain industry. With the support of the Xahau Launch Alliance, the Xahau network has the potential to disrupt smart contracts on the XRP Ledger and provide new opportunities for DeFi developers.
