Evernode, a permissionless Layer 2 smart contract platform with a worldwide reach, made history by announcing Xahau, the smart contract sidechain for the XRPL ecosystem. At its foundation, Xahau is a derivative of the open-source “rippled” software of the XRP Ledger, painstakingly designed to support smart contracts – a revolutionary feature known as Xahaud.
The distinctive qualities of Xahau lie at the core of its powers. Notably, the XRPL Core is still there, guaranteeing the continuance of the network’s durable characteristics. Hooks, a modern feature, highlights the execution of smart contracts. These agile pieces of code enforce transaction rules, enhancing efficiency and security.
By connecting Xahau and the XRPL through a ground-breaking Burn2Mint liquidity gateway, the two networks may now exchange assets in both directions. A fundamental component of Xahau is governance. Key protocol choices are supervised by a two-tiered approach with up to 20 independent validators.
The Xahau XRP (XRP+) native currency, created to reward validators and enable smart contracts, powers the company’s activities. As the network’s utility token, XRP+ makes transactions and network services possible. The ecosystem’s health is preserved with a supply set by different modifications, such as burning XRP from the XRPL and monthly balance changes.
The inaugural release of 600 million Xahau XRP, split across stakeholders and validators, demonstrates the dedication to a healthy ecosystem.
This historic launch is a testament to the developers’ commitment to changing the way XRP Ledger is used. The XRPL ecosystem’s adoption of smart contracts by Xahau has the potential to usher in a new age of innovation, efficiency, and security.
