TL;DR
- The XRP Ledger (XRPL) will be updated with the Decentralized Identifiers (DID) amendment on October 30.
- The amendment aligns DID operations on XRPL with WWW Consortium standards.
- New features such as “DIDSet” and “DIDDelete” are expected to improve decentralized identity management.
The XRP Ledger (XRPL) is about to receive a significant upgrade with the implementation of the Decentralized Identifiers (DID) amendment.
According to information shared by XRPScan, this amendment has entered the two-week activation window and is expected to go live on October 30, 2024.
DID amendment has entered the 2 week activation window, and is set to activate on 30th October: https://t.co/SwtO44K5I0 https://t.co/cOY1hQ0YPp pic.twitter.com/mVvD9ShWP4
— XRPScan (@xrpscan) October 16, 2024
This move is part of the platform’s commitment to remain at the forefront of technological solutions that drive the adoption of decentralized identity within the cryptocurrency ecosystem.
The DID amendment is designed to make identification operations in the XRPL compatible with World Wide Web Consortium (W3C) standards, a crucial step toward ensuring interoperability and global adoption of these technologies.
The implementation of this amendment will allow users to manage their digital identities in a more secure and standardized way.
According to information provided by XRPScan, this amendment has received 29 votes out of a possible 35, thus exceeding the 28-vote threshold required for approval.
Major validators supporting this upgrade include Ripple Labs, Bitso, and Anodos Finance, demonstrating strong support from key entities within the ecosystem.
Additionally, this update includes new features such as “DIDSet”, which allows you to create or update decentralized identifiers, and “DIDDelete”, which offers the option to delete a DID associated with an account on XRPL.
Implications for the future of XRP
This update not only strengthens XRPL’s position in the decentralized identity space, but also opens up new possibilities for its use in larger-scale applications.
Ripple Labs has been exploring these capabilities with the goal of extending the functionalities of its RLUSD stablecoin by testing token minting, burning, and transferring within the XRPL testnet.
With these improvements, the XRP Ledger is positioned as a robust and secure infrastructure for the implementation of future innovations.
Being aligned with global standards and proven resilient to potential security breaches, XRPL is ready for its next phase of global integration and adoption.
Recent developments suggest that this platform will continue to lead the evolution towards a more open and decentralized digital economy.
The adoption of the DID amendment in XRPL marks an important step towards strengthening decentralized identity on the network, which could have a significant impact on the way digital identities are handled across the blockchain ecosystem.
With the support of key validators and the backing of the community, the future of the XRP Ledger looks brighter than ever.
