Ripple CTO Advocates for Community Consensus on XRPL features Adoption
Summary:
Ripple's CTO, David Schwartz, calls for community consensus before XRP Ledger (XRPL) validators approve the automated market maker (AMM) feature. He clarified that any changes, including potential AMM and Clawback functions, should be endorsed by the majority of the community and not voted on arbitrarily by validators. Schwartz also addressed misconceptions around the Clawback feature, saying its purpose was to protect developers from possible legal risks, stressing his commitment to XRPL's expansion and decentralization.
David Schwartz, Ripple's Chief Technical Officer (CTO), has called for XRP Ledger (XRPL) validators to approve the automated market maker (AMM) function, provided it garners consensus within the community. Schwartz initiated a conversation about the XRPL's AMM capacity on X (formerly Twitter), where he labelled AMMs as a captivating decentralized finance (DeFi) innovation that's capturing people's interest.
The XRP Ledger, a decentralized blockchain ledger that facilitates the XRP cryptocurrency, is recognized for its swiftness and expandability, which is perfect for a multitude of financial operations, such as cross-border transactions and money transfers.
When asked about the AMMs rolling out on the XRPL after governance voting, Schwartz responded that if the community majority favours the amendment, it could be executed in around two weeks. However, he emphasized that validators should not vote arbitrarily, rather, community consensus should dictate the outcome, with validators voting in favor when widespread support is evident.
Schwartz then explored the importance of majority approval, underscoring to his understanding, no validators are presently backing the vote. The AMM feature launch coincided with the release of rippled version 1.12.0, which also introduced the potential Clawback function. Apart from a new trading engine, the AMM introduction will enable integration with the XRPL DEX.
Despite the notability of this attribute, Schwartz cautioned validators not to vote independently for these changes. Instead, they should wait for community consensus and then vote favorably, given the community consensus and ample nodal support.
Aside from his influential role in the Ripple network, David Schwartz is notorious for his enlightening publications and his steadfast dedication to promoting decentralization.
Recently, he cleared up misconceptions related to the Clawback function, which is often perceived as invasive for XRPL users, explaining that its primary purpose is to shield developers from possible legal risks within the system. Schwartz is an unapologetic advocate for XRPL's growth and is vocal about his stance.
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Published At
10/8/2023 10:39:35 AM
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