Ripple’s recent move to introduce smart contracts on the XRP Ledger (XRPL) has sparked a lively debate within the crypto community. Spearheaded by Ripple’s Chief Technology Officer, David Schwartz, the announcement signals a new chapter for XRPL, but not without raising concerns among stakeholders.
The plan outlines a two-pronged approach aimed at expanding XRPL’s functionality. The first strategy involves an Ethereum Virtual Machine (EVM) sidechain, developed in collaboration with Peersyst, which will allow developers to deploy Ethereum-based smart contracts on XRPL. The second approach focuses on an XLS proposal to enable smart contracts directly on the XRPL Mainnet, pending community approval.
However, the absence of Hooks—a protocol designed by XRPL Labs to bring native smart contracts to XRPL—has raised eyebrows. Hooks was recently implemented on Xahau, a new chain, but its omission from Ripple’s announcement left some in the community puzzled. Wietse Wind, a lead developer at XRPL Labs, expressed disappointment over the exclusion, sparking a conversation about Ripple’s strategy and commitment to community input.
Ripple CTO David Schwartz Responds
Amid the questions and concerns, Ripple’s CTO David Schwartz took to social media to address the community. He clarified that Ripple does not hold unilateral control over XRPL and that the announcement marks an initial step in exploring smart contract capabilities for the Mainnet without compromising its core attributes.
Schwartz emphasized Ripple’s commitment to transparency and collaboration with the community. He acknowledged ongoing discussions with key community members, including those at Orchestra Finance, about addressing concerns like ledger bloat, transaction speed, and overall security. However, despite his efforts to reassure the community, some concerns remained.
Decentralization Under the Spotlight
One major point of contention is whether the introduction of smart contracts could threaten XRPL’s decentralization. MetaManX, a prominent figure in the XRP community, questioned if smart contracts could be added without Ripple’s direct approval—a key issue for those who view decentralization as a cornerstone of XRPL’s appeal.
Schwartz’s reassurances have done little to quell all concerns, particularly regarding the role Ripple might play in shaping the XRPL ecosystem moving forward. The CTO reaffirmed that Ripple’s influence is not absolute and that any significant changes would require broad community consensus.
Looking Ahead – Community Dialogue
As discussions continue, it’s clear that Ripple’s cautious approach is designed to ensure innovation within the framework of community consensus. While some see the introduction of smart contracts as a necessary evolution for XRPL, others remain wary of the potential trade-offs.
Upcoming XRP community events in Korea and Japan are expected to offer further clarity as Ripple and community members engage in dialogue about the future direction of the XRPL. These gatherings could prove pivotal in addressing unresolved concerns and setting a course for the ledger’s next phase of development.
For now, Ripple’s strategy remains one of calculated progress, with a strong emphasis on maintaining the balance between innovation and decentralization. As the debate unfolds, the XRPL community will play a critical role in determining how smart contracts fit into the broader vision for the ledger’s future.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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