Ripple Chief Technical Officer (CTO) David Schwartz has called for XRP Ledger (XRPL) validators to support the Automated Market Maker (AMM) feature, but only if there is consensus within the community.
On X (formerly Twitter), CTO of Ripple I started Discussion about XRPL’s AMM feature. In his initial post, Schwartz pointed to AMMs as an interesting decentralized finance (DeFi) innovation garnering attention, raising questions for more details.
The XRP Ledger is a decentralized, blockchain-based ledger that powers the cryptocurrency XRP. It is known for its speed and scalability, making it suitable for various financial applications, including cross-border payments and transfers.
In response to a community member’s question about the timeline for AMMs to go live on XRPL after the ruling vote, Schwartz stated that if a majority supports the amendment, the changes could be implemented in less than two weeks.
In general, validators should not vote yes individually. The community must make a decision and then almost all validators must vote yes when they think the community is on board and there are enough nodes supporting the change.
The vote on the amendment aims to…
– David “Joel Katz” Schwartz (@JoelKatz) October 6, 2023
Expanding on the importance of majority voting, Schwartz emphasized that, to his knowledge, there are currently no certifiers who support the vote. The introduction of the AMM feature occurred with the release of Clawback 1.12.0, which also brought the potential Clawback feature. This AMM addition doesn’t just introduce a new trading engine; It will also enable integration with XRPL DEX.
Despite the importance attributed to this feature, Schwartz advised auditors not to vote independently to promote these amendments. Instead, he emphasized, “the community must reach consensus first, and then validators must vote overwhelmingly yes when they see that the community is in agreement and that sufficient nodes support the amendment.”
In addition to his prominent role in the Ripple ecosystem, David Schwartz is known for his media articles and commitment to supporting decentralization.
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Recently, it is Dissipate Misunderstanding regarding the Clawback feature, which is often seen as an intrusion for XRPL users. He explained that the purpose of the Clawback feature is to protect developers from potential legal liabilities within the ecosystem. Schwartz has consistently advocated for the development of XRPL and is vocal about his position.
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