Ripple and XRP News
Ripple to Compete with Ethereum as the Firm Launches a Preview Version of its Federated Sidechains
Ripple acts to expand in all the possible blockchain sectors as it launches a preview of Federated Sidechains.
Ripple Releases Preview Version of Federated Sidechains
Through a Sep 30th blog on Dev Community, Ripple announced the launch of Federated Sidechains’ preview. Ripple had been focusing on building Federated Sidechains for a long time and announced its vision for the first time earlier this year.
For now the preview version of the blockchain is released for developers to view it, leave a comment about its technical design, and engage with it to explore blockchain’s potentials.
The Federated Sidechains have the capability to complement the XRP Ledger (XRPL) Mainnet. It would enable developers to unlock new capabilities concerning DeFi, NFTs, smart contracts and interoperability.
Ripple invited developers to engage with the Federated Sidechains as it announced:
“Today, an engineering preview of Federated Sidechains that can be used with the XRPL is available for developers to experiment with.”
Ripple stated each Sidechain will act as its own individual blockchain at the high level. Whereas the federation will unlock value in the form of XRP and other tokens, which would enable them to move from Sidechain to the Mainnet effectively.
The Federated Sidechains will operate without compromising efficiency, high speed and throughput of the public XRPL Mainnet.
While the actual date of Federated Sidechains’ full version is not announced yet, it does not seem to be much far, given if the preview version goes well.
During the year Ripple has already made some interesting announcements that could give the firm a lead over others in many sectors, including CBDC, NFTs and DeFi.
Moreover, currently Ripple is the leading blockchain service provider for cross-border payments and remittance services.
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