The Xumm development team, XRPL Labs, is set to launch a new XRPL sidechain called Xahau Ledger, which will feature XRP+ as its native token.
XRPL Labs, the development team behind Xumm wallet, is set to launch Xahau, a new XRPL sidechain with a native token dubbed Xahau XRP (XRP+). The team recently released the Xahau Whitepaper in collaboration with other notable entities.
Wietse Wind, founder of XRPL Labs, called attention to the planned development in a recent post upon the release of the Whitepaper.
For ~two years @XRPLLabs has collaborated with other entities with a track record of building on and supporting the XRPL ecosystem.
Today, together we publish the Whitepaper for "Xahau", an XRP Ledger protocol chain.
We're proud to publish the Xahau Whitepaper alongside of… https://t.co/q75V1djsSp
— WietseWind (?+? Xumm @ XRPL Labs) (@WietseWind) August 28, 2023
This initiative is a collaborative effort with GateHub, Alloy Networks, Evernode, and other prominent names that have made their unique mark on the XRP Ledger (XRPL).
Features of Xahau Ledger
Xahau will incorporate Hooks, lightweight smart contracts for the XRPL Protocol. While smart contracts are yet to find their place on the XRPL, Hooks, a crucial amendment, seeks to change that.
However, the Hooks Amendment has yet to reach the XRPL. Xahau helps users get access to it before the XRPL Mainnet launch. Xahau will combine the proven resilience of the XRPL Mainnet with the innovation of Hooks.
Accordingly, the Xahau Ledger will be the smart contract-enabled sidechain for the XRP Ledger. The Whitepaper confirmed that it is a fork of the XRPL.
Wind noted that the XRPL Labs team will upgrade Xumm Wallet to support multiple XRPL protocols when Xahau goes live. As a result, the non-custodial wallet will be able to support the XRPL Mainnet and Xahau Ledger.
While there is no fixed timeline, Wind assures that all final audits will conclude before the year’s end. The network will feature dedicated validators, initially managed by Xahau Alliance members. This alliance will spearhead the development.
Members of the Xahau Alliance are XRPL Labs, GateHub Limited, Titanium OU (Alloy Networks), Evernode Labs, and Digital Governing OU.
Per the Whitepaper, Xahau incorporates the strengths of XRPL while introducing innovative changes. Core features include retaining the XRP Ledger Consensus Protocol, the native DEX, and a mechanism to safeguard the ledger from spam through token fees.
Xahau XRP (XRP+)
Central to Xahau’s architecture is its native token, Xahau XRP (XRP+), designed with improved tokenomics for facilitating smart contracts and rewarding validators. XRP+ will have an initial supply of 600 million tokens.
The team will distribute the 600 million XRP+ tokens among the members of the Xahau Alliance. There will be no ICO, and the supply of XRP+ will be uncapped. Users can get XRP+ by burning their regular XRP tokens at a 1:1 ratio.
Xahau will link to the XRPL mainnet through a Burn2Mint liquidity portal. This will enable users to clone their XRPL accounts onto Xahau. Additionally, a unique Genesis Hook Governance Game will govern Xahau’s emission and operation.
Xahau’s launch promises full functionality and decentralization, with over ten independent validators representing a diverse mix of XRPL stakeholders.
According to Wind, the development of Xahau does not invalidate their plans to rebrand as Xaman. However, he emphasized that the team wishes to inform Xumm users of the rebrand through the Xumm v2.6 upgrade. This move will help curb confusion.
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.
-Advertisement-
