Ripple CTO Urges XRPL Community Consensus for AMM Feature Adoption
Ripple’s Chief Technology Officer, David Schwartz, has recently expressed his support for the adoption of an Automated Market Maker (AMM) feature on the XRP Ledger (XRPL). However, he emphasized the importance of reaching a consensus within the community before implementing any changes.
Schwartz took to Twitter to discuss the potential implementation of AMMs on XRPL. In his initial post, he described AMMs as an intriguing component of decentralized finance. XRPL, a decentralized blockchain that utilizes XRP as its native asset, is known for its speed and scalability, making it suitable for various financial applications, including cross-border payments and remittances.
When asked about the timeline for AMMs to go live on XRPL after governance voting, Schwartz stated that if the majority of the community supports the amendment, the changes could be implemented in as little as two weeks.
The Importance of Consensus
Schwartz emphasized that individual validators should not vote yes independently. Instead, he advocated for the community to make a collective decision, and validators should vote yes when they believe that the community is supportive and enough nodes back the change.
The Role of Validators
At present, no validators have endorsed the vote, according to Schwartz’s knowledge. The introduction of the AMM feature was included in the release of rippled version 1.12.0, which also introduced the potential clawback feature. The AMM feature not only adds a new trading engine but also enables integration with the XRPL decentralized exchange.
Despite the significance of this feature, Schwartz advised validators against voting independently to promote these modifications. Instead, he stressed the importance of community consensus before overwhelming support from validators.
Dedication to Decentralization
David Schwartz is not only Ripple’s Chief Technology Officer but also a renowned figure advocating for decentralization. Apart from his involvement with Ripple, Schwartz has written informative articles and actively champions the cause of decentralization.
Schwartz has recently clarified misconceptions surrounding the clawback feature on XRPL, which has been seen by some as an intrusion on users. He explained that this feature is intended to protect developers from potential legal liabilities within the ecosystem.
It is encouraging to see Ripple’s CTO, David Schwartz, actively engaging with the XRPL community and emphasizing the importance of consensus. By seeking community agreement before implementing significant changes, Schwartz is ensuring that the XRPL ecosystem evolves with the support and understanding of its users. This approach fosters trust and collaboration within the community, ultimately leading to a stronger and more resilient blockchain platform.
For more cryptocurrency news and updates, visit Uber Crypto News.