Few Steps To Project XRP, Analyst Says
Mekras’ comments come when the XRPL community has kept on bemoaning the sluggish development of the blockchain ecosystem and the underperformance of XRP. Especially, these grievances have zeroed in on the absence of brilliant contracts on the network.
Furthermore, the ecosystem has not seen as many builders as other somewhat new chains like Solana and Ethereum regardless of bragging over 1,500 projects as of November 2023. Issues like these have intensified the developing worries and grievances from its community.
In a post on his X handle, Mekras addresses the worries that have been persistent in the ecosystem’s sluggish advancement. He proposed that the community take on a methodology that would see the various parts of the ecosystem and all projects inside the ecosystem get the necessary for their separate growth.
Read Also: A Warning To XRP Executives On Price Decline
XRPL mainnet, Xahau, EVM sidechain, Coreum, Flare, Futurverse… anything that is connected to XRPL, extends XRP's utility, and opens the way for more potential use cases, and more devs, builders and projects to come in this ecosystem, is great both for XRP and XRPL. Embrace the…
— Panos 🔼{X} (@panosmek) February 12, 2024
Mekras distinguished the XRPL mainnet and projects, for example, the Xahau sidechain, the impending EVM sidechain, the Coreum networks, Flare Networks, and the Futureverse. Remarkably, this large number of ventures have a kind of alliance or association with the XRP Ledger.
Criticism So Far
Be that as it may, some of them have not gotten the support they desire from the community members. For example, some proponents in the XRP Ecosystem contended that the Xahau sidechain, worked by XRPL Labs, could set off a shift of concentration from the XRPL mainnet.
Besides, Thomas Silkjær, Head of Analytics at the XRPL Foundation, stated earlier this week that the impending EVM sidechain is the “greatest direct attack” on the XRP Ledger. he mentioned that the sidechain has no advantage to the XRPL and varies impressively in protocol to the record.
In my personal opinion, the EVM sidechain is the single biggest direct attack on the XRPL protocol, pushed by those that should be defending and working for the protocol.
It does nothing for rippled. It does nothing that makes the XRPL more attractive to new devs. It has little…
— Thomas Silkjær (@Silkjaer) February 10, 2024
In response to Silkjær, Matt Hamilton a Former Director at Ripple stated that he concurs with the opinions around the EVM sidechain however inquired as to whether Xahau doesn’t represent a bigger threat.
Silkjær mentioned that the Xahau protocol, which features Hooks, could be imitated on the XRPL, making it useful for the network. Ripple CTO David Schwartz holds a comparative opinion, taking note that Xahau could be a decent avenue to test Hooks.
Read Also: Web3 Security Hack: New Discoveries Into Ripple’s Chairman Theft
A Great Call For The Community
In any case, in his most recent statement, Mekras contended that this multitude of projects is on a mission to assist with the utility of the XRP Ledger as well as XRP as a token.
Speaking further, he mentioned that they open up new avenues for more use cases and draw in builders, developers, and more projects to the XRP Ledger. He mentioned also that they are “great both for XRP and XRPL.”
From the EVM sidechain to Flare’s FAssets project, the XRP ecosystem anticipates the advancement of numerous related projects. Mekras charged the whole community to embrace these new developments and the new changes, as well as the developing multi-chain ecosystem.
He entreated community members to drum their support for the new projects working in the ecosystem and partake in the manner in which they can. As indicated by Mekras, “This is the only way we succeed.”
Follow us on Twitter, Facebook, Telegram, and Google News
Meet Daniel Abang: Crypto guru, content creator, and analyst. With a deep understanding of blockchain, he simplifies complex concepts, guiding audiences through the ever-changing crypto landscape. Trusted for his insightful analysis, Daniel is the go-to source for staying informed and empowered in the world of cryptocurrency.
