The XRP Ledger (XRPL), created by Ripple, has emerged as a formidable force in the world of blockchain technology. For over a decade, XRPL has provided users with swift and cost-efficient transactions, outperforming many other currency-centric networks. Its native capabilities, such as issued currencies, a decentralized exchange (DEX), escrow functionalities, and token management, have further solidified its position in the market.
While XRPL may lack support for smart contracts, it has proven itself to be a versatile platform that competently handles various functions similar to other networks. This includes the management of non-fungible tokens (NFTs), stablecoins, synthetic assets, and other programmable settlement layer assets.
A significant milestone for the XRP Ledger occurred in October 2022 with the introduction of the XLS-20 standard. This standard revolutionized the landscape by enabling the creation of native NFTs on the XRP Ledger. With the XLS-20 standard, users gained the ability to represent, transfer, and own unique digital assets efficiently. Not only did it introduce features like royalties and robust anti-spam measures, but it also propelled XRPL’s growth and achievements.
