All news is rigorously fact-checked and reviewed by leading blockchain experts and seasoned industry insiders.
- Just months after the launch of the XRP Ledger sidechain, Xahau, the project has announced the release of an exciting feature.
- The new feature marks a new milestone for the sidechain, which sees it enhance the existing capabilities and open new possibilities.
The XRP community is celebrating the release of an exciting feature by Xahau, XRP Ledger’s sidechain. According to a lead developer on the XRP Ledger (XRPL), the Xahau network has released Xahaud 2024.3.12-release+790, ships XLS-55d, “Remit: Atomic Multi-Asset Payments for XRPL Protocol Chains.”
The new feature introduces new capabilities to the network, complementing existing features and opening the network to endless opportunities.
The recent update to the XRP Ledger sidechain, Xahau(d) build 790, introduces an innovative payment method called Remit. This innovative system allows users to send various currencies and tokens simultaneously in a single transaction.
Xahau(d) build 790 has been released shipping XLS-55 "Remit".
Read more about the release here:https://t.co/0NmCCCjRL4
More about the amendment by @RichardXRPL here:https://t.co/87kqHmwMEd
Oh, and..! And just like we hoped, the innovation & developments on Xahau will feed… pic.twitter.com/2fRSSBgXVk
— WietseWind (🪝🛠 Xaman @XRPLLabs) (@WietseWind) March 15, 2024
What makes Remit truly unique is its atomic nature. This ensures that the entire payment either succeeds completely or fails, eliminating the risk of partial deliveries. Designed with both retailers and everyday users in mind, Remit promises a secure and reliable “no matter what” push payment experience. Remit paves the way for a more efficient and user-friendly financial experience that could revolutionize the existing payment system.
This new feature is a welcome development for Xahau, the XRP Ledger, and the greater ecosystem. However, this is not an isolated case, with the ledger witnessing increased developer activity, user adoption, and technological advancement.
As CNF recently reported, RippleX announced an update to the much anticipated XLS-40 amendment that is expected to integrate DID based on W3C into the XRP Ledger. The XLS-40 amendment would see the integration of native support for Decentralized Identifiers (DIDs) based on World Wide Web Consortium (W3C) standards on XRP Ledger (XRPL).
Another key development highlighted by CNF is the extension of USDC on the ledger. Circle is evaluating the expansion of USDC to the XRP Ledger, indicating a potential increase in the stablecoin’s versatility. This could be of mutual benefit. XRP influencer Cobb has recently pointed out that XRPL can handle 3,400 transactions per second. This translates to 204,000 per minute and 293 million daily.
“XRP is truly designed to be a global utility asset for banks all around the world,” Cobb added.
It is clear that the platform has begun the year strong and is looking to dominate the space. This could easily help propel its utility token, XRP. The token has struggled to maintain its bullish momentum owing to the ongoing Ripple v. SEC lawsuit. But as the network gains great support the demand and utility of XRP is expected to hit the roof.
As CNF has previously highlighted, 2024 is set to be the most bullish year for XRP. In addition to network growth, the possibility of an XRP ETF, the greater bullish wave led by Bitcoin, institutional interest, and the possibility of Ripple going public could help drive prices to an all-time high.
At the time of writing, XRP is trading at $0.6046 after a 3% drop. The bulls will be keen to defend the $0.60 support and look to rally and get back above $0.70 in the short term.
