Bitcoin
Bitcoin (BTC)
$66,521.00 4.63187
Bitcoin price
Ethereum
Ethereum (ETH)
$3,490.58 2.68572
Ethereum price
BNB
BNB (BNB)
$589.28 3.85613
BNB price
Solana
Solana (SOL)
$169.76 8.83304
Solana price
XRP
XRP (XRP)
$0.5804430 2.07823
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000178 3.23301
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000124 8.4377
Pepe price
Bonk
Bonk (BONK)
$0.0000316 20.94251
Bonk price
Bitcoin
Bitcoin (BTC)
$66,521.00 4.63187
Bitcoin price
Ethereum
Ethereum (ETH)
$3,490.58 2.68572
Ethereum price
BNB
BNB (BNB)
$589.28 3.85613
BNB price
Solana
Solana (SOL)
$169.76 8.83304
Solana price
XRP
XRP (XRP)
$0.5804430 2.07823
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000178 3.23301
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000124 8.4377
Pepe price
Bonk
Bonk (BONK)
$0.0000316 20.94251
Bonk price
Bitcoin
Bitcoin (BTC)
$66,521.00 4.63187
Bitcoin price
Ethereum
Ethereum (ETH)
$3,490.58 2.68572
Ethereum price
BNB
BNB (BNB)
$589.28 3.85613
BNB price
Solana
Solana (SOL)
$169.76 8.83304
Solana price
XRP
XRP (XRP)
$0.5804430 2.07823
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000178 3.23301
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000124 8.4377
Pepe price
Bonk
Bonk (BONK)
$0.0000316 20.94251
Bonk price
Bitcoin
Bitcoin (BTC)
$66,521.00 4.63187
Bitcoin price
Ethereum
Ethereum (ETH)
$3,490.58 2.68572
Ethereum price
BNB
BNB (BNB)
$589.28 3.85613
BNB price
Solana
Solana (SOL)
$169.76 8.83304
Solana price
XRP
XRP (XRP)
$0.5804430 2.07823
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000178 3.23301
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000124 8.4377
Pepe price
Bonk
Bonk (BONK)
$0.0000316 20.94251
Bonk price

Ripple CTO urges AMM integration into XRP Ledger

ripple-cto-urges-amm-feature-integration-xrp-ledger
Edited by
News
Ripple CTO urges AMM integration into XRP Ledger

Ripple chief technology officer David Schwartz advocates for integrating an automated market maker (AMM) feature with the XRP Ledger (XRPL) to enable the creation of decentralized exchanges (DEXs) on the XRPL. 

Schwartz described AMMs as a fascinating aspect of decentralized finance in a post on social media. However, implementing this feature should only proceed with the consensus of the XRPL community, he explained.

The XRPL operates as a decentralized blockchain network, facilitating efficient and secure transactions for the XRP cryptocurrency.

Unlike conventional systems, XRPL employs the Ripple Protocol Consensus Algorithm (RPCA) for consensus, ensuring quick transaction processing and scalability.

It provides a practical foundation for developing decentralized applications (dApps), while the AMM is a decentralized exchange solution that relies on a mathematical formula to establish asset prices. This formula considers the supply and demand of the assets involved, adjusting prices accordingly.

When asked about the timeline for AMMs becoming active on XRPL after governance voting by a community member, Schwartz responded that if the majority supports the amendment, the changes could be implemented in as little as two weeks.

Schwartz highlighted that, as far as he knows, no validators currently support the majority vote. The AMM feature was introduced with the release of Ripple version 1.12.0, which also introduced the potential clawback feature. 

The team says that incorporating an AMM doesn’t just involve adding a new trading engine; it will also facilitate integration with the XRPL decentralized exchange.

Despite the feature’s importance, Schwartz cautioned validators against voting independently for these changes. He stressed the need for the community to reach a consensus first. Validators should vote ‘YES,’ overwhelmingly when they observe that the community agrees and sufficient nodes endorse the adjustment.

In April, Schwartz also urged caution for those considering investing in XRP through an AMM. He outlined three key reasons for this caution. 

Firstly, Schwartz highlighted the exposure to other digital assets within the AMM, explaining that price fluctuations of one asset can impact the value of all other assets in the pool, including XRP. 

While acknowledging the usefulness of AMMs for trading, Schwartz emphasized the need for investors to thoroughly research and understand the potential risks before choosing to hold XRP within an AMM. 

Additionally, he pointed out the limited potential for significant gains as another risk. Despite AMMs providing liquidity for XRP and other tokens, there’s no guarantee of substantial price gains for XRP.

Ripple scores another victory over an SEC

In related news, judge Analisa Torres has denied the U.S. Securities and Exchange Commission’s (SEC) motion to appeal its loss against Ripple Labs.

The SEC sought to appeal the partial ruling in Ripple’s favor, declaring that retail XRP token sales didn’t meet the legal definition of a security. 

However, Judge Torres rejected the SEC’s motion, stating they failed to prove controlling legal questions or substantial differences of opinion. A trial date is set for April 23, 2024. Ripple execs and the Gary Gensler-led SEC will meet in person for at least an hour to discuss a settlement before the final pretrial conference.

Judge Torres had found the SEC’s appeal wouldn’t significantly expedite the case’s resolution. This ruling should mark a crucial win for Ripple, reaffirming the validity of the previous ruling.

https://twitter.com/filanlaw/status/1709343608338309383?s=46&t=TgjDKnTfjRbndDwIp3uJlA