Ripple-backed developer XRPL Labs reveals that a change that introduces a number of new features to the XRP Ledger (XRPL) is now in beta testing.
In a tweet, XRPL Labs revealed that the testnet for Hooks is now live after almost nine months of development.
“On July 30, 2020, we announced our vision of changing hooks for the XRP ledger to add business logic (smart contracts) support to the XRP ledger. We posted blogs, insights, concepts, and reflections along the way. We are very proud to present our PUBLIC BETA TESTNET today. “
Hooks are small pieces of code defined in an XRPL account that add smart contracts functionality by allowing logic to run before or after a transaction on the XRP ledger.
“These hooks can be very simple, for example:” Reject payments <10 XRP "or" Send 10% to my savings account for all outgoing payments "or more advanced.
XRPL Labs hopes the testnet will pave the way for a fully developed product that could be deployed within the next eight months.
“It’s time to test, code, have fun and break things so a future change to adding hooks to the XRP Ledger Livenet can hopefully be worked out with confidence in late 2021.”
While developers for the leading smart contract blockchain Ethereum typically use the Solidity programming language to write smart contracts, hooks are typically written in the C language, according to XRPL Labs.
An approval rate of 80% is required from the validators of the XRP ledger for a change to drive through. If a change stays above this threshold for two weeks, it will be activated.
Don’t Miss A Beat – Subscribe to send crypto email notifications straight to your inbox
Follow us on Twitter, Facebook and Telegram
Surf the Daily Hodl Mix
Selected image: Shutterstock / sdecoret