Xahau, the sidechain of XRP Ledger, has made an exciting announcement just a few months after its launch. The new feature is a significant milestone for the sidechain as it enhances its existing capabilities and opens up new possibilities.
The XRP community is thrilled about this release by Xahau, the sidechain of XRP Ledger. According to a lead developer on XRPL, the Xahau network has introduced Xahaud 2024.3.12-release+790, which includes XLS-55d, also known as “Remit: Atomic Multi-Asset Payments for XRPL Protocol Chains.”
This new feature brings fresh capabilities to the network, complementing the existing ones and providing endless opportunities for users.
The recent update to Xahau(d) build 790, the XRP Ledger sidechain, introduces an innovative payment method called Remit. This groundbreaking system allows users to send multiple currencies and tokens simultaneously in a single transaction.
Xahau(d) build 790 has been released with the inclusion of XLS-55 “Remit.”
To learn more about this release, you can visit the following link: [insert link]
You can also find more information about the amendment by @RichardXRPL at this link: [insert link]
Moreover, this innovation and development on Xahau will have a positive impact.
What sets Remit apart is its atomic nature, which ensures that the entire payment is either successfully completed or fails entirely, eliminating the risk of partial deliveries. Designed with both retailers and everyday users in mind, Remit guarantees a secure and reliable push payment experience, no matter what. This paves the way for a more efficient and user-friendly financial experience that has the potential to revolutionize the current payment system.
This new feature is a significant development for Xahau, XRP Ledger, and the broader ecosystem. However, it is not an isolated case, as the ledger has been witnessing increased developer activity, user adoption, and technological advancements.
As reported by CNF, RippleX has announced an update to the highly anticipated XLS-40 amendment, which is expected to integrate DID (Decentralized Identifiers) based on W3C (World Wide Web Consortium) into the XRP Ledger. This integration would provide native support for DIDs on XRPL, following W3C standards.
Another notable development highlighted by CNF is the extension of USDC (USD Coin) on the ledger. Circle is exploring the possibility of expanding USDC to the XRP Ledger, which could increase the versatility of this stablecoin. This could be mutually beneficial for both parties. XRP influencer Cobb recently pointed out that XRPL can handle 3,400 transactions per second, equivalent to 204,000 per minute and 293 million per day.
Cobb added, “XRP is truly designed to be a global utility asset for banks all around the world.”
It is evident that the platform has started the year on a strong note and aims to dominate the space. This could potentially boost the utility token, XRP, which has faced challenges in maintaining its bullish momentum due to the ongoing Ripple v. SEC lawsuit. However, with increasing support for the network, the demand and utility of XRP are expected to soar.
As CNF has previously highlighted, 2024 is expected to be a bullish year for XRP. Along with network growth, factors such as the possibility of an XRP ETF, the bullish wave led by Bitcoin, institutional interest, and the potential of Ripple going public could drive prices to reach new all-time highs.
At the time of writing, XRP is trading at $0.6046, experiencing a 3% drop. The bulls will be keen on defending the $0.60 support level and aiming to rally and surpass $0.70 in the near future.
If you’re interested in buying Ripple (XRP), you can refer to our guide. We also have a Ripple XRP Wallet Tutorial and a 24-hour XRP Price Check available. For more Ripple (XRP) news, feel free to explore our website.
And in case you’re wondering, Ripple (XRP) is a digital asset designed to be a global utility for banks worldwide.