RippleX has announced an update to the highly anticipated XLS-40 amendment, which is expected to incorporate Decentralized Identifiers (DIDs) based on the World Wide Web Consortium (W3C) standards into the XRP Ledger (XRPL).
The update reveals that a minor issue has been discovered in the XLS-40 decentralized identity specification. The introduction of the XLS-40 feature has generated a lot of excitement in the blockchain community as it paves the way for the integration of digital identity into the XRP Ledger. Sologenic, a tokenization platform built on the XRP Ledger, has released an official statement stating that the XLS-40 amendment will enable native support for DIDs based on W3C standards on XRPL.
According to a previous report by Crypto News Flash, the launch of Ripple 2.0 would be marked by this update, along with the XLS-38 Cross-Chain Bridge.
After comprehensive coverage of this groundbreaking initiative a few months ago, RippleX, the development arm of Ripple Labs, has now provided an interesting update, stating that a minor issue has been found in the XLS-40 decentralized identity specification. This issue pertains to the ability of users to create empty DID objects. The technical team has proposed a fix for this issue, which is currently under review. RippleX has tweeted that validators have yet to vote on the amendment. It was mentioned that although the bug seems minor, a fixed amendment must be made available before the vote can take place.
The report explains that an empty DID object is essentially the same as not having a DID object at all. Fortunately, this can be resolved with the “AddthefixEmptyDID” amendment, which is expected to be included in the next core XRPL software release, rippled version 2.2.0.
More information on the integration of DIDs on XRPL reveals that the purpose of introducing DIDs is to address challenges associated with centralized identifiers such as emails and usernames. Unlike traditional identifiers, DIDs provide a globally unique string of characters that serve as an independent and blockchain-based identification address. This ensures ownership and control of data, thereby reducing the risk of data breaches. DIDs also empower users to digitally sign and issue Verifiable Credentials, such as educational certificates, facilitating instant and secure verification.
With the implementation of XLS-40, users will have the opportunity to manage and control their digital identity, ensuring a secure and consistent experience across different applications. Some notable benefits include increased trust and security in cross-border transactions. With XRPL DID, there is the potential for a verifiable and secure identity, which can help reduce the risk of fraud in financial interactions. XLS-40 also allows users to be selective in sharing their DID-related data, ensuring privacy and user control. According to the official report, individuals faced with the decision to share information before accessing an online service will only need to share the necessary information.
Referencing an article by Crypto News Flash, it is mentioned that the XRPL recently integrated an Automated Market Maker (AMM) Amendment, demonstrating a commitment to transforming the ecosystem with several other updates in the pipeline.
This initiative is expected to have a transformative impact on digital identity management, positioning the XRPL as a pioneer in providing secure and user-centric digital identity solutions.