Ripple Proposes Adding Federated Sidechains

Ripple Chief Technology Officer David Schwartz proposed introducing federated sidechains to enable implementation of smart contracts adjacent to the XRP Ledger.

Ripple has resisted smart-contract capabilities because of the risk of compromising the focus on payments, Schwartz wrote in a blog post Monday.
Demand, however, has increased with the growth of decentralized finance (DeFi).
Federated sidechains for the XRP Ledger would enable developers to implement native smart contracts that interact with XRP and the XRP Ledger, while keeping the ledger "lean and efficient," Schwartz said.
They would allow for more specialized projects to be built using Ripple's functionality without compromising the security or efficiency of the ledger because they would be built on sidechains acting as their own blockchains.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.

Jamie Crawley

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.

10 Years of Decentralizing the Future