Xahau, the sidechain of the XRP Ledger, has recently unveiled an exciting new feature, signaling a significant milestone for the project. This new feature enhances the existing capabilities of the sidechain and opens up new possibilities for its users.
The XRP community is rejoicing as Xahau, the sidechain of the XRP Ledger, releases Xahaud 2024.3.12-release+790, which includes the groundbreaking feature called Remit: Atomic Multi-Asset Payments for XRPL Protocol Chains. This release introduces a range of new capabilities to the network, complementing the existing features and creating endless opportunities.
The latest update of the XRP Ledger sidechain, Xahau(d) build 790, introduces an innovative payment method called Remit. This unique system allows users to send multiple currencies and tokens simultaneously in a single transaction. Xahau(d) build 790 has been released with the shipping of XLS-55 “Remit”.
Remit stands out for its atomic nature, ensuring that the entire payment either succeeds completely or fails, eliminating the risk of partial deliveries. Designed with both retailers and everyday users in mind, Remit promises a secure and reliable push payment experience, regardless of the circumstances. This innovative feature paves the way for a more efficient and user-friendly financial experience that has the potential to revolutionize the existing payment system.
The introduction of Remit is a significant development for Xahau, the XRP Ledger, and the broader ecosystem. However, this is not an isolated occurrence, as the ledger has been witnessing increased developer activity, user adoption, and technological advancements.
In a recent update, RippleX announced the highly anticipated XLS-40 amendment, which is expected to integrate Decentralized Identifiers (DIDs) based on World Wide Web Consortium (W3C) standards into the XRP Ledger. This amendment aims to enhance the native support for DIDs and further strengthen the XRPL.
Another noteworthy development is the extension of USDC (USD Coin) on the ledger. Circle, the company behind USDC, is exploring the expansion of this stablecoin to the XRP Ledger, which could enhance its versatility. This potential integration could be mutually beneficial for both USDC and the XRP Ledger. Notably, XRPL is capable of handling an impressive 3,400 transactions per second, making it a highly efficient platform.
It is evident that the XRP Ledger has started the year on a strong note and is poised to dominate the space. This could have a positive impact on the utility token XRP, which has faced challenges due to the ongoing Ripple v. SEC lawsuit. However, with growing support for the network, the demand and utility of XRP are expected to soar.
As previously mentioned, 2024 is anticipated to be a bullish year for XRP. Alongside network growth, factors such as the possibility of an XRP ETF, the bullish wave led by Bitcoin, institutional interest, and the potential of Ripple going public could drive XRP prices to new all-time highs.
At the time of writing, XRP is trading at $0.6046, experiencing a 3% decrease. The bulls will be eager to defend the $0.60 support level and aim to rally, pushing the price back above $0.70 in the near future.
