Ripple Proposes XRPL Upgrade for DeFi and Smart Contracts By CoinQuora

June 13, 2021 John Ripple 0

Ripple Proposes XRPL Upgrade for DeFi and Smart Contracts

  • has put forward a proposal for a massive upgrade for XRPL.
  • The proposed upgrade can bring DeFi and smart contracts to the XRPL system.
  • For this, the company has suggested the use of federated sidechains.

Ripple has put forward a proposal for a major XRP ledger upgrade. The company says that this proposal could catapult decentralized finance (DeFi) and smart contracts across the XRP platform.

It hopes to achieve this without discounting on XRPL’s efficiency. For this purpose, Ripple will be making use of federated sidechains, as stated by David Schwartz, the company’s CTO. In a post on Ripple’s official blog, he explained that federators are pieces of software to operate validators on at least one sidechain. Moreover, the sidechains can operate as their own bloc…

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