Ripple's CTO Pushes for AMM Feature
Ripple's chief technical officer (CTO), David Schwartz, has called on the XRP Ledger (XRPL) community to reach a consensus on adopting the automated market maker (AMM) feature.
In a post on X (formerly known as Twitter), Schwartz highlighted the growing interest in decentralized finance (DeFi) innovation, particularly AMMs, and invited the community to learn more about it.
XRPL: A Blockchain for Financial Applications
The XRP Ledger is a decentralized blockchain-based ledger that powers the XRP cryptocurrency. Known for its speed and scalability, it is well-suited for a wide range of financial applications, including cross-border payments and remittances.
Consensus is Key for AMM Adoption
In response to a question about the timing of AMM implementation on the XRPL after governance voting, Schwartz explained that if the majority supports the amendment, the changes could be integrated within two weeks.
However, Schwartz emphasized that individual validators should not vote in favor of the changes independently. He stressed the importance of the community reaching a consensus and validators voting overwhelmingly YES only when they believe the community is on board and enough nodes support the change.
Currently, Schwartz stated that no validators have endorsed the vote, highlighting the significance of a majority consensus within the XRPL community.
AMM Feature and XRPL DEX Integration
The AMM feature was introduced with the release of rippled version 1.12.0. This update also brought the potential Clawback feature and enables integration with the XRPL decentralized exchange (DEX).
Despite its significance, Schwartz cautioned validators against voting independently for the AMM changes. Instead, he believes that a community consensus should be reached first before validators overwhelmingly vote YES.
David Schwartz: A Champion for XRPL
David Schwartz, in his role as Ripple's CTO, is known for his informative articles and dedication to promoting decentralization. He recently clarified misunderstandings about the Clawback feature, emphasizing its purpose of protecting developers from potential legal liabilities. Schwartz consistently advocates for the advancement of the XRPL and expresses his opinions openly.
Did you miss our previous article...
https://trendinginthenews.com/crypto-currency/bitcoin-continues-to-test-28k-resistance-as-bulls-look-for-a-breakthrough
