Developers Propose Cross-Chain Bridge for XRPL Network to Increase Blockchain Interoperability
The developers are looking to build a cross chain bridge for the XRP Ledger (XRPL), according to a recent draft submitted to Github. Cross check transfer of technology will allow for this as well as provide blockchain interoperability between XRPL and different networks. A “cross check transfer is not a transaction as such,” the GitHub draft description presents us in the submission proposal. Of course this happens over two entities and requires multiple transactions and also involves additional servers called ‘witnesses’.” If a cross chain bridge is implemented for XRPL If it goes ahead, blockchain could certainly join the many networks that already take advantage of this technology, including Ethereum, Avalanche, Solana, Binance Smart Chain, and others. The design proposed by XRPL developers includes a new server type and The three latest Lezza objects and the eight latest transactions are included and the summary also describes a method to “prevent the same asset from being wrapped multiple times (i.e. prevent transaction repetition)”. Software engineer and Ripplex developer Mayookha Wadari also shares this proposal on social media. With the same Wadari said, “We just published an official XRPL standard spec for Cross Selection Bridge” and “Check it out and let me know if you have Have any ideas.”
The cross-chain idea inspired the creation of the Ethereum Virtual Machine Side Stand in October, which is compatible with the XRP Ledger and Ripple Transaction Protocol (RTXP) and currently, XRP, the parent cryptocurrency of XRPL, by market capitalization. Chosen is the 6th largest digital currency. However, it has declined by 7.7% against the US Dollar in the last seven days. Ripple Labs is also dealing with a legal battle with the US Securities and Exchange Commission (SEC) and some doubt that a settlement between the two parties is possible. XRP, a token released in 2012 that the Securities and Exchange Commission alleges to be its own registered security and Ripple Labs in 2020 by the US regulator, accused the company’s officers of being unregistered with the Securities and Exchange Commission Was accused of selling a security.
