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In a landmark moment for the XRP Ledger ecosystem, the highly-anticipated sidechain, Xahau Network, has officially gone live on its mainnet. This marks a significant milestone as Xahau becomes the first functional blockchain within the XRPL community to introduce smart contract functionality.
Xahau Network's Mainnet Launch
The Xahau Network, a Hooks-enabled sidechain of the XRP Ledger, commenced its mainnet operations on October 31, 2023, at approximately 3:00 p.m. (UTC). The development of this pioneering protocol spanned over two years, demonstrating the meticulous planning and execution behind this initiative.
Smart Contracts on Xahau Network
One of the standout features of Xahau Network is its fully operable Hooks, which enable the execution of smart contracts. This development opens up new horizons for the XRPL community, as it now has access to a blockchain capable of hosting smart contracts, a functionality that was eagerly awaited.
Snapshot of Xahau Network's Mainnet
Xahau Network's team shared a snapshot of the mainnet client software, revealing 15 active “proposers” (validators) and a network of 20 peers connected to the blockchain. During its initial hours of operation, the network exhibited impressive transactional speed, with a new block added every three seconds, as reported on XRPL.org's official explorer.
Milestone Achievement
As of the time of writing, Xahau Network validators have already confirmed over 32,000 blocks, showcasing its robustness and reliability as a blockchain platform.
Historical Significance
It's worth noting that Xahau Network's mainnet launch coincided with the 15th anniversary of Satoshi Nakamoto's publication of the Bitcoin whitepaper. This synchronicity adds a historical layer to the momentous occasion.
Future Prospects
The XRPL community is brimming with optimism following the launch of Xahau Network. An auction was initiated to secure funding for an independent node, RPC endpoints, and a community-driven validator. Enthusiasts foresee the rapid implementation of DeFi functionalities, including native AMM mechanisms, following Xahau mainnet activation.
Xahau Network's successful transition to its mainnet, equipped with smart contract capabilities, marks a groundbreaking achievement within the XRP Ledger ecosystem. This development paves the way for innovative applications, including DeFis and NFTs, while further solidifying XRP Ledger's position in the blockchain landscape.
