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HomeCrypto NewsMarketXRP Ledger Smart Contract L2 Protocol Set to Launch, Announces Testnet Migration

XRP Ledger Smart Contract L2 Protocol Set to Launch, Announces Testnet Migration


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Evernode is set to launch soon.

The launch date for Evernode, a proposed XRP Ledger (XRPL) Layer 2 smart contract protocol, is drawing nearer, according to an announcement from the official Twitter handle today. 

Notably, it promises to go live with the proposed Hooks sidechain. For the uninitiated, Hooks refer to small codes that can execute instructions alongside XRP transactions, touted to bring smart contract capability to the XRPL. Developers have been working on the project for over two years. As reported in January, they plan to roll out a sidechain to further test its capabilities before implementing it on the main network (mainnet). 

Consequently, the Evernode team has disclosed that in preparation for the launch, it is migrating to the third version of the Hooks testnet. The process will take an estimated 7 days, and network participants will need to install a fresh version of Evernode.

Evernode was conceived by former Australian Lawyer Scott Chamberlain and XRPL Foundation technical advisor Richard Holland, who is also the lead contributor to the Hooks amendment proposal. 

Sharing the announcement today, Chamberlain tweeted:

“Evernode getting ever closer to launch. We need our beta hosts to prepare for a switch to the v3 Hooks testnet as the final step for testing so we can be ready to launch on the xrpl labs Hooks sidechain…”

Notably, there is a planned airdrop to XRP holders following the protocol’s launch, with 2,580,480 Evers – the proposed native token of the protocol – earmarked for the purpose. Before this, rewards would be distributed to developers and testnet participants, per the whitepaper

As highlighted in a recent report, the XRPL network is becoming a hotbed for development. Evernode is one of many solutions building on the XRPL with the potential to expand the blockchain’s utility. 

In a tweet today, Ripple Chief Technology Officer David Schwartz urged developers and businesses interested in utilizing the XRPL to follow XRPL Commons, a non-profit launched in Paris. 

“Hello world! Exciting news! We are launching XRPL Commons, a non-profit association in Paris dedicated to empowering and fostering the global XRPL community focusing on innovative use cases,” the group said in their announcement.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Okoya David
Okoya David
Okoya David Kio is a crypto enthusiast passionate about understanding what makes the nascent market tick. When he's not pondering about cryptocurrencies, you might find him in a BP debate room trying to proffer solutions to age-old societal problems.

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