- How will ZKP change XRP?
- What else awaits XRP ecosystem?
One of the key participants of the XRP community and an actual XRPL validator, known online as Vet, drew a line under the network’s current development in a fresh post, detailing what is coming to the ecosystem in the near future. Of course, the main point on the list of the upcoming changes is the long-awaited breakthrough in privacy and confidentiality.
How will ZKP change XRP?
For a long time, XRP Ledger, like Bitcoin, was criticized for excessive transparency. According to Vet, the solution to this problem is already approaching and will be implemented through zero-knowledge proof (ZKP) technology.
The central element of the new architecture will be the ZKP technology itself, which allows the network to confirm the validity of a transaction, the availability of funds and the absence of double spending without revealing sensitive data such as the transfer amount, the sender’s and receiver’s addresses or the type of asset being transferred.
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The second component of privacy will be confidentiality on demand. Unlike fully anonymous networks, XRP will offer a hybrid model. With the XLS-372 standard, users will be able to create confidential multi-purpose tokens. The system will allow privacy to be preserved for the public while still providing special viewing keys to auditors or regulators to ensure compliance.
What else awaits XRP ecosystem?
In addition to the confidentiality shift, Vet highlighted several other key directions that will turn XRPL into a super blockchain in the coming years:
- The integration of artificial intelligence and its use to optimize protocol development and create brand-new coded projects.
- The launch of new stablecoins and FX markets, the emergence of even more ETFs as well as digital trust assets such as Evernode.
- Full programmability of the network through smart contracts and extensions that will allow XRP to compete with Ethereum and Solana in DeFi.
Also mentioned was the development of XRP Alphanetwork — a specialized environment, a kind of next-generation testnet where quantum-resistant algorithms and derivative sidechains are already being tested.
Source: https://u.today/xrp-on-the-verge-of-privacy-breakthrough-top-xrpl-contributor-details-how-this-feature-will-be
