XRP Ledger’s L2 Smart Contract Development Reaches Key Stage

Evernode, the XRP Ledger (XRPL) Layer 2 platform, has shared a series of updates on its journey toward launch, offering insights into its progress and the challenges it has faced. XRP Ledger Layer 2 Platform Audit Scheduled For Mid-August Evernode is a Layer 2 platform that seeks to bring smart contracts to the XRP Ledger ecosystem via Hooks. The platform is being developed by a team of experienced developers working to enhance the XRP Ledger network with advanced functionalities. Related Reading: Data Shows: Bitcoin Traders Going Long, Blast Above $30,000 Looming? In the first update, Evernode announced that the audit of their three hooks is tentatively scheduled to begin in mid-August. However, the team is still waiting for paperwork and funding from Ripple to confirm the audit, just like other XRPL Grants Grantees. In the second update, the Evernode team shared that the Nomad contract proved more challenging than expected. The contract did not persist on the betanet, which helped the development team identify bugs and areas for improvement. The team has been working hard to resolve these issues and remains optimistic that they will overcome the obstacles soon. Ultimately, Evernode appreciated the approximately 104 betahosts who have provided invaluable feedback in testing and improving the platform in a near-live environment. These updates highlight the complexity of developing a Layer 2 platform for XRP Ledger and the importance of thorough testing and auditing. It also emphasizes the dedication and hard work of the Evernode team throughout the development process. However, upon successful launch, Evernode’s platform will enable developers to build and deploy smart contracts on the XRP Ledger network, opening up new use cases and applications for the ecosystem. This will enable XRP Ledger to compete with other smart contract platforms such as Ethereum, which has gained significant traction in decentralized finance (DeFi). Moreover, Evernode’s platform will help drive the adoption of XRP Ledger by attracting more developers to the ecosystem. As the number of developers grows, the network’s capabilities will expand, leading to more use cases and applications, ultimately driving adoption and value. The development of Evernode’s Layer 2 platform for XRP Ledger is a significant milestone for the XRP Ledger community. It showcases the continued innovation and development within the ecosystem, which are critical for its growth and success. Related Reading: Bitcoin Rally May Not Resume Until This Happens Overall, Evernode’s updates on the progress toward launching a Layer 2 platform for XRP Ledger demonstrate the importance of rigorous testing and auditing in developing complex systems. The successful launch of the platform will open up new opportunities for developers, potentially driving adoption and growth in the XRP Ledger ecosystem. At the time of writing, XRP has encountered a sideways price movement since Monday. As the fourth largest cryptocurrency in the market regarding trading volume and market capitalization, it is currently trading at $0.7119, representing a decrease of 1.6% over the last 24 hours. Featured image from Unsplash, chart from TradingView.com