Wednesday, July 28, 2021
Home Crypto News Market Hooks Add Smart Contract Functionality To XRP Ledger

Hooks Add Smart Contract Functionality To XRP Ledger

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Hooks add smart contract functionality to the XRP Ledger: ‘layer one’ custom code to influence the behavior and flow of transactions. Hooks are small, efficient pieces of code being defined on an XRPL account, allowing logic to be executed before and/or after XRPL transactions.


The XRP ledger is known and is being appreciated for its transaction throughput, speed and the low fees. Combined with available advanced transaction types like multi sign, escrows, payment channels and even a decentralized exchange (all on ledger, out of the box, without requiring smart contracts) the XRPL has a lot to offer businesses and (creative) developers.

Hooks add smart contract functionality to the XRP Ledger: ‘layer one’ custom code to influence the behavior and flow of transactions. Hooks are small, efficient pieces of code being defined on an XRPL account, allowing logic to be executed before and/or after XRPL transactions. These hooks can be really simple, like: “reject payments < 10 XRP”, or “for all outgoing payments, send 10% to my savings account” or more advanced.

By allowing hooks to not only execute efficient logic but also to store small, simple data objects, one could define a hook like: “for incoming payments transactions, check if the sending account is in a list maintained by another hook, and if present: reject the transaction”.

Hooks are deliberately not Turing-Complete. While often touted as the holy grail of smart contracts, Turing-Completeness is actually inappropriate for smart contracts.

Hooks are currently live on a public testnet. It’s time for testing, coding, having fun & breaking things, so a future amendment to add Hooks to the XRP Ledger livenet can be drafted with confidence, hopefully at the end of 2021.

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Mark Brennanhttps://thecryptobasic.com/
Mark is 27, holds a Master degree in Business Administration, and works as a content Creator at TheCryptoBasic mostly on Crypto Market Updates. Since 2014 he has been active in the crypto sector. Thanks to the Business College in which other than Business subjects, he was taught about the disruptive potential of Blockchain. His interests include Blockchain technology and Crypto Market innovations. He also founded a small startup in which he gives lectures on cryptocurrencies.

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