XRP Ledger’s L2 Smart Contract Development Reaches Key Stage
July 28 2023 - 3:00PM
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Evernode, the XRP Ledger (XRPL) Layer 2 platform, has shared a
series of updates on its journey toward launch, offering insights
into its progress and the challenges it has faced. XRP Ledger Layer
2 Platform Audit Scheduled For Mid-August Evernode is a Layer 2
platform that seeks to bring smart contracts to the XRP Ledger
ecosystem via Hooks. The platform is being developed by a team of
experienced developers working to enhance the XRP Ledger network
with advanced functionalities. Related Reading: Data Shows: Bitcoin
Traders Going Long, Blast Above $30,000 Looming? In the first
update, Evernode announced that the audit of their three hooks is
tentatively scheduled to begin in mid-August. However, the team is
still waiting for paperwork and funding from Ripple to confirm the
audit, just like other XRPL Grants Grantees. In the second update,
the Evernode team shared that the Nomad contract proved more
challenging than expected. The contract did not persist on the
betanet, which helped the development team identify bugs and areas
for improvement. The team has been working hard to resolve these
issues and remains optimistic that they will overcome the obstacles
soon. Ultimately, Evernode appreciated the approximately 104
betahosts who have provided invaluable feedback in testing and
improving the platform in a near-live environment. These updates
highlight the complexity of developing a Layer 2 platform for XRP
Ledger and the importance of thorough testing and auditing. It also
emphasizes the dedication and hard work of the Evernode team
throughout the development process. However, upon successful
launch, Evernode’s platform will enable developers to build and
deploy smart contracts on the XRP Ledger network, opening up new
use cases and applications for the ecosystem. This will enable XRP
Ledger to compete with other smart contract platforms such as
Ethereum, which has gained significant traction in decentralized
finance (DeFi). Moreover, Evernode’s platform will help drive the
adoption of XRP Ledger by attracting more developers to the
ecosystem. As the number of developers grows, the network’s
capabilities will expand, leading to more use cases and
applications, ultimately driving adoption and value. The
development of Evernode’s Layer 2 platform for XRP Ledger is a
significant milestone for the XRP Ledger community. It showcases
the continued innovation and development within the ecosystem,
which are critical for its growth and success. Related Reading:
Bitcoin Rally May Not Resume Until This Happens Overall, Evernode’s
updates on the progress toward launching a Layer 2 platform for XRP
Ledger demonstrate the importance of rigorous testing and auditing
in developing complex systems. The successful launch of the
platform will open up new opportunities for developers, potentially
driving adoption and growth in the XRP Ledger ecosystem. At
the time of writing, XRP has encountered a sideways price movement
since Monday. As the fourth largest cryptocurrency in the market
regarding trading volume and market capitalization, it is currently
trading at $0.7119, representing a decrease of 1.6% over the last
24 hours. Featured image from Unsplash, chart from
TradingView.com
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