Ripple is looking to forge a partnership with AWS that could notably develop use cases for the XRP Ledger. The firm would be testing Amazon Bedrock’s artificial intelligence on the XRPL.
Ripple Trials AWS AI Tools for XRP Ledger Operations
It is supposedly in active discussions with AWS about the possible use of Amazon Bedrock on the XRPL. This integration would involve employing AI-powered analysis to enhance the management of system performance and operational scaling by Ripple across the network.
The XRP Ledger uses high-powered technology that is capable of processing fast and free transactions. An average programmer would take two to three days going through these logs one by one for any anomalies.
By using Amazon Bedrock to host and run large language models, it would also allow the company now to do what it could do in the matter of minutes. Testing also shows some tasks that used to take days can now be done in as short a time as 2 to 3 minutes.
The possible integration was recently described in a conference talk by a solutions architect. The talk highlighted that sophisticated log analysis is becoming increasingly essential in relation to decentralized networks that are expanding in terms of transactions.
The improvements in performance also comes while the XRP Ledger is continuing to prove it is cost-efficient. The AWS initiative is being introduced at a time when a number of significant technical advancements have been implemented on the ledger over the past year.
At the end of December 2022, Ripple introduced “rippled v3.0.0.” This launch resulted in a number of reliability fixes and new features to improve the services of DeFi. Some of the key accomplishments include the establishment of its own lending platform and optimization efforts to make the adoption process easier for XRP and RLUSD.
Earlier, there was also progress concerning programmability. In September, there was success in the update of Smart Escrow Devnet, giving rise to speculations about advanced smart contracts. This is related to tokenized assets for funds, like BlackRock’s BUIDL.
XRPL Records Ongoing Network Growth
The ledger records steady growth each year. Based on the analysis by CryptoQuant, the liquidity dynamics in the decentralized exchange on the XRP ledger have improved to a total value of around $173 billion.
Source: CryptoQuantNotably, the network also introduced a new standard called Multi-Purpose Token (MPT) in October. It is a protocol-level upgrade and has a benefit that comes with the issuance of real-world assets. The Multi-Purpose Token would lessen the need for smart contracts. It provides a compliance solution for RWAs to be on chain.
Looking ahead, Ripple has also detailed what they have planned for the soon to be developed new XRPL Lending Protocol. This new framework would make fixed-term and fixed-rate as well as underwritten lending possible on the ledger.
Source: https://coingape.com/xrp-ledger-gets-major-boost-as-ripple-works-with-amazon-on-new-upgrade/
