RippleX has announced an update to the highly anticipated XLS-40 amendment, which will incorporate Decentralized Identifiers (DIDs) based on World Wide Web Consortium (W3C) standards into the XRP Ledger (XRPL).
The report reveals that a minor issue has been discovered in the XLS-40 decentralized identity spec.
The blockchain community has been buzzing with excitement over the proposed XLS-40 feature, as it paves the way for the integration of digital identity into the XRP Ledger. Sologenic, a tokenization platform built on the XRPL, released an official statement stating that the XLS-40 amendment will introduce native support for DIDs based on W3C standards.
According to a previous report by Crypto News Flash, the launch of the XLS-40 feature, along with the XLS-38 Cross-Chain Bridge, is expected to mark the beginning of Ripple 2.0.
After comprehensive coverage of this groundbreaking initiative, Ripple Labs’ development arm, RippleX, has provided an interesting update. They have discovered a minor issue in the XLS-40 decentralized identity spec, which is designed to allow users to create empty DID objects.
The technical team has swiftly proposed a fix for this issue, which is currently under review. RippleX mentioned on Twitter that validators have not yet voted on the amendment. Although the bug may seem minor, a fixed amendment must be available before voting can begin.
The report explains that an empty DID object is equivalent to not having a DID object at all. Fortunately, this can be resolved with the “AddthefixEmptyDID” amendment, which is expected to be included in the next core XRPL software release, rippled version 2.2.0.
Further details on the integration of DIDs on the XRPL reveal that they are designed to address challenges associated with centralized identifiers such as emails and usernames.
Unlike traditional identifiers, DIDs provide a globally unique alphanumeric string that functions as an independent and blockchain-based identification address. This ensures ownership and control of data, reducing the risk of data breaches. DIDs also empower users to digitally sign and issue Verifiable Credentials, such as educational certificates, enabling instant and secure verification.
With XLS-40, users will have the opportunity to manage and control their digital identity, ensuring a secure and consistent experience across different applications. Some notable benefits include increased trust and security in cross-border transactions. XRPL DIDs could provide a verifiable and secure identity, reducing the risk of fraud in financial interactions. XLS-40 also allows users to selectively share their DID-associated data for privacy and user control. According to the official report, individuals will only need to share necessary information when accessing an online service.
Referring to a publication by Crypto News Flash, the XRPL recently integrated an Automated Market Maker (AMM) Amendment, demonstrating its commitment to transforming the ecosystem with several other initiatives in the pipeline.
With this initiative, the blockchain community is eagerly anticipating a transformative impact on digital identity management. The XRPL is poised to become a pioneer in providing secure and user-centric digital identity solutions.