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Xahau, a groundbreaking smart contract sidechain for the XRP Ledger (XRPL), emerges as a promising addition to the blockchain ecosystem. Building upon the open-source codebase of XRPL's rippled, Xahau introduces a novel feature known as “Hooks.” These Hooks empower developers to create decentralized applications (dApps) and smart contracts on the XRPL, enhancing its capabilities and utility.
At its core, Xahau retains the fundamental features of the XRPL, including the consensus protocol, decentralized exchange, and burning transaction fees. However, the introduction of Hooks opens the door to a new era of smart contract functionality within the XRPL ecosystem.
Xahau operates in a manner analogous to the XRPL itself, utilizing the same consensus protocol to validate transactions and establish consensus on the ledger's state. The key differentiator is the incorporation of Hooks, which are small pieces of code that execute custom logic on transactions prior to finalization. This innovation enables the enforcement of business rules, escrow arrangements, registries, and other smart contract capabilities.
Xahau functions as a parallel sidechain to the main XRPL, allowing the XRPL ecosystem to leverage smart contract capabilities even before potential integration into the XRPL itself. This parallel operation ensures that innovation and growth within the XRPL are not impeded by technological limitations.
XRP+ Token
XRP+ (pronounced XRP Plus) serves as the native token of the Xahau network, fulfilling a role akin to XRP on the main XRPL. Its primary function is to deter spam and maintain network integrity by imposing transaction fees.
Unlike XRP, XRP+ boasts an uncapped supply. This unique token can be acquired through two primary methods:
- Burn2Mint Portal: Users can burn XRP on the mainnet, in exchange for minting an equivalent amount of XRP+ on the Xahau network. This establishes a direct valuation link between XRP and XRP+.
- Monthly Rewards: Active users on Xahau are rewarded with XRP+ through monthly rewards and protocol adjustments, incentivizing network participation and engagement.
Relationship Between XRP and XRP+ Token
XRP+ maintains a close connection with the XRP token, as it derives its value from XRP itself. The Burn2Mint portal enables users to burn XRP on the XRPL, resulting in the minting of an equivalent quantity of XRP+ on the Xahau network. This mechanism establishes a direct and transparent valuation link between the two tokens.
The supply of XRP+ is designed to be proportional to the amount of XRP burned. Once the entire circulating supply of XRP is accounted for, monthly emissions are introduced to encourage continued network activity. Consequently, while XRP+ exists as a distinct token, its value remains intrinsically tied to its convertibility into XRP.
How to Get XRP+ Tokens
Acquiring XRP+ tokens is straightforward, with two main avenues for obtaining them:
- Burn2Mint Portal: By utilizing the Burn2Mint portal, users can burn XRP on the mainnet, which results in the minting of an equivalent amount of XRP+ on the Xahau network. This process effectively mirrors your XRP wallet address onto Xahau.
- Monthly Rewards: Actively participating in the Xahau network can earn users monthly rewards in XRP+, encouraging engagement and activity within the ecosystem.
While Xahau had an initial distribution to founders and launch partners, the ongoing acquisition of XRP+ primarily occurs through the burn-and-mint process or by earning rewards through network participation.
Impact on XRP and Ripple
Xahau's emergence within the XRPL ecosystem should not be viewed as a threat to XRP or Ripple. Instead, it is designed to complement and enhance the XRPL ecosystem. By introducing smart contract capabilities that could eventually be integrated into the main XRPL, Xahau serves as a testing ground for innovation.
The burn-and-mint process establishes a decentralized bridge between the two chains without significantly impacting the XRP supply unless users actively value the features offered by Xahau.
Notably, Ripple is not directly involved in the development of Xahau. However, Xahau builds upon Ripple's open-source codebase, aiming to expand the overall functionality of the XRP Ledger for the benefit of the entire blockchain community.
Xahau emerges as a promising addition to the XRPL ecosystem, introducing smart contract capabilities and the native token, XRP+. By enhancing the XRPL's functionality, Xahau seeks to foster innovation and growth within the blockchain community. Its symbiotic
