Software developers from the Ripplex Improvement lab have proposed a linking technology to allow the XRPL community to support transfers across different blockchain networks. According to the most recent draft on Github, the proposal shows how cross-chain bridging could be done and provides suggestions on ways to avoid repeat transactions.
Ripplex Devs Propose XRPL Linking Technology
The members of the engineering and construction teams need to create a link between the XRP Ledger (XRPL) and other blockchain networks. This knowledge would enable transfers between XRPL networks and offer blockchain interoperability. “In this proposal, a cross-chain transfer is not a single transaction,” reads the Github draft. “It occurs in two chains, requires multiple transactions, and involves an additional type of server called a ‘witness’.”
If a link for XRPL is successful, the blockchain will be part of several networks leveraging this technology. These include Ethereum, Avalanche, Solana, Binance Smart Chain and others. The proposed design from XRPL developers includes a new type of server, three new ledger items and eight new transactions. The design also includes a system to prevent the same assets from being sent multiple times (avoid duplication of transactions). Mayukha Vadari, a software programmer and developer from Ripplex, shared the idea on social media.
“We have just published an official XRPL standards specification for cross-chain bridging,” said Vadari in a tweet. “Check it out and let me know if you have any ideas.”
The cross-chain effort follows the push for an Ethereum Virtual Machine (EVM) sidechain to support the XRP Ledger and its transaction protocol. XRP is the native cryptocurrency of XRPL and the sixth-largest digital asset by market capitalization. However, it has lost 7.7% in the last week against the US dollar.
Ripple Labs is also dealing with a legal battle with the US Securities and Exchange Commission (SEC) and some suspect that there may be a connection between the two. The US regulator accused XRP of being an unregistered security. The agency and executives were accused of selling unregistered security without SEC approval.
What are your thoughts on the potential impact of a Cross-Chain Bridge for the XRPL Community and the wider ecosystem? Please share your opinions in the comment section below.
