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Reading: Ripple Aims to Make XRP Ledger Programmable by 2025
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BTCRepublic > News > Altcoins News > Ripple Aims to Make XRP Ledger Programmable by 2025
Altcoins News

Ripple Aims to Make XRP Ledger Programmable by 2025

Collins Eshiet
Last updated: October 28, 2024 4:04 pm
Collins Eshiet
Published: September 3, 2024
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Disclosure: BTCRepublic provides analysis and forecasts but does not offer investment advice. Our content is for informational purposes only. Please conduct your own thorough research and consult with a financial advisor before making any investment in cryptocurrency.
Ripple Aims to Make XPR Ledger Programmable by 2025
Highlights
  • Ripple XRP Ledger Programmability might take place next year.
  • By 2025 users of the XRP Ledger will be able to do more on the ledger.
  • Ripple will partner with Futureverse to securely custody its assets.

In a recent blog post, Ripple states its commitment to,

Contents
2025 Marked a “Significant Year for Programmability” for the Ripple XRP LedgerFurther Details on the Coming Improvements to the Ripple XRP Ledger in 2025

Bringing new programmability, including smart contracts, to the XRPL dev ecosystem in 2025 – through the XRPL EVM sidechain (already in the works) as well as exploring native capabilities on XRPL Mainnet.

With this announcement, the crypto industry can expect a ton of advancements and changes to the XRP Ledger following its programmability next year.

So, by next year, we expect to see the integration of smart contracts and the addition of more developer tools to manage these smart contracts that will be present on the XRP Ledger next year.

2025 Marked a “Significant Year for Programmability” for the Ripple XRP Ledger

Ripple is on the ground this week in Korea and Japan, starting off with a few key announcements – all in service of the goal to strengthen the foundations of crypto infrastructure to support blockchain utility and usability for institutional adoption.

— Ripple (@Ripple) September 3, 2024

The first step towards the programmability of the Ripple XRP Ledger that we expect to see by next year is the addition of smart contracts to the ledger.

This will help make the Ripple XRP Ledger more usable by the crypto industry for basic practices and the movement of digital assets.

At this point, Ripple is working on integrating smart contracts into the XRP Ledger Mainet and details of the project’s progress are not available.

Following this, the partnership between Ripple and Peersyst Technology will introduce the XRPL EVM Sidechain, which will also be on the XRP Ledger.

Ripple calls this the “dual advancement in XRP Ledger’s programmability” since both steps will work together.

To create a robust, versatile ecosystem capable of supporting a wide range of applications.

Developers will be able to access these smart contracts to create “permissionless development that complements the functionality of amendments.”

Ripple aims to make the programmability of the XRP Ledger permissionless, easy to customize, easy to learn, and lastly easy to operate for infrastructure providers.

Once the XRPL EVM Sidechain goes live, developers will get to have a taste of what the coming changes to the XRP Ledger will bring.

2/ Ripple and the broader XRP community are committed to bringing new programmability, including smart contracts, to the XRPL dev ecosystem in 2025 – through the XRPL EVM sidechain (already in the works) as well as exploring native capabilities on XRPL Mainnet.…

— Ripple (@Ripple) September 3, 2024

The native smart contracts on the coming XRP Ledger after it’s made programmable will be Escrows, NFTs, authorized trust lines, payment channels (across over 55 other blockchains), and the decentralized exchange (DEX) and Automated Market Maker (AMM).

Further Details on the Coming Improvements to the Ripple XRP Ledger in 2025

Ripple has been working on the XRP Ledger’s programmability over the past few years.

To help boost this goal, Ripple has partnered with over 57 firms working hard to build the XRP Ledger in anticipation of the introduction of smart contracts.

Now a 58th partner joins the ranks, Korea’s Yonsei University is now a part of the Ripple University Blockchain Research Initiative (UBRI) and will benefit from the $60 million investment into the program to help drive academic excellence and best-in-class research through strategic support, technical resources, and grants.

3/ Ripple’s University Blockchain Research Initiative added Korea’s Yonsei University as our 58th global partner! With $60M+ committed to #UBRI, this program is driving academic excellence and best-in-class research through strategic support, technical resources, and grants.… pic.twitter.com/JJjJUEq0TM

— Ripple (@Ripple) September 3, 2024

Futureverse is also part of the long line of partnerships with Ripple to securely custody assets that will be present on the XRP Ledger.

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Collins Eshiet
ByCollins Eshiet
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Its Collins, I'm a tech and gaming writer that happens to be an Android buddy. I'm also a crypto enthusiast always keeping abreast with the crypto trends in various industries and regions.
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