Seeds of Wisdom RV and Economic Updates Sunday Afternoon 11-3-24
Good Afternoon Dinar Recaps,
XRP LEDGER MAKES MAJOR LEAP FOR INSTITUTIONAL-GRADE DEFI AS THIS FEATURE LAUNCHES
According to an exciting announcement by the RippleX official X account, the XRPL oracle pricing amendment is now live. This amendment adds a "Price Oracle" feature to XRP Ledger, as defined in the XLS-47 specification. The XRPL price oracle is intended to store pricing information about asset pairs that exist outside of XRP Ledger, allowing smart contracts that rely on XRP Ledger to use this information.
A blockchain oracle is a system in which a service feeds information to the blockchain about the outside world, which may subsequently be accessed by decentralized apps (dApps) that run primarily on or with the blockchain.
Oracles provide a secure and efficient means of bringing real-world data onto a given blockchain system for smart contract use. This is particularly critical for institutional DeFi, which is central to XRPL.
XRPL’s Oracle is protocol-native, which means that it is built into the network itself and not a Layer 2, similar to XRPL’s AMM.
External oracles such as Band Protocol and DIA, which are currently integrated into XRPL, will also be able to connect and provide price feed data.
With the new XRPL price oracle and integrations with Band Protocol and DIA, XRPL's native oracles will be able to offer real-time data for key DeFi features like the AMM and lending protocols.
This represents a significant step forward for institutional-grade DeFi. The XRPL DID amendment went live last week, marking yet another significant milestone for XRP Ledger. DID is a unique, user-owned identifier that is not controlled by any central authority.
Use cases for XRP price oracle
Many upcoming XRPL protocols will require oracles, such as the XRPL Lending Protocol for lending rates and liquidation management, as well as the XRPL AMM and DEX for determining asset prices across all Web2 and Web3 marketplaces. The XRPL EVM Sidechain will also need it to support EVM smart contracts and quick data syncs between the mainnet and sidechain.
Tokenized assets would also require an XRP price oracle. In February, Ripple and Zoniqx announced a partnership that will bring Zoniqx's asset tokenization infrastructure to XRP Ledger. This would require that the prices of real-world assets be streamed on-chain in real time.
@ Newshounds News™
Source: U Today
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CARDANO COMMUNITY DIVIDED ON CHARLES HOSKINSON’S ROLE AS BLOCKCHAIN EMBRACES DECENTRALIZATION
▪️Cardano has launched Node 10.11, a significant update that supports the Chang 2 hard fork.
▪️This upgrade empowers ADA holders and encourages active participation in Cardano's governance.
▪️Meanwhile, the Cardano community is divided on the role of the blockchain network's founder, Hoskinson.
Cardano has introduced Node 10.11, marking a major leap in the network’s journey toward decentralized governance.
On November 1, Intersect MBO, a Cardano-led member organization, launched Node 10.11 as the first mainnet release to support the Chang #2 inter-era hard fork. This upgrade transitions the network from its initial technical bootstrapping phase into a fully on-chain governance model.
Cardano’s Governance Evolution Continues with Chang #2
Node 10.11 includes features designed to empower governance within the Cardano ecosystem.
Stake Pool Operators (SPOs) can now delegate their votes to preset options, and Delegated Representatives (DReps) gain an auto-abstain feature.
The update also enhances Cardano’s ledger, command-line interface (CLI), API, and networking code, creating a more robust foundation for governance and user interaction.
Intersect highlights the Chang 2 upgrade as the completion of Cardano’s move to fully on-chain governance, an evolution from the initial bootstrap model introduced in the first Chang upgrade.
This shift allows ADA holders—who since the Chang 1 update on September 1, have been able to delegate governance responsibilities to DReps or represent themselves—to play a more active role in the network’s decision-making processes.
Under the new Chang 2 framework, ADA holders must delegate to a DRep to withdraw staking rewards, although rewards will continue to accrue regardless of delegation status. Withdrawals will be possible only after delegating to a DRep or selecting the auto-abstain or no-confidence options.
This would encourage active participation in Cardano’s governance structure as it moves closer to its decentralized vision.
“Following a successful Chang #2 hard fork, decisions on the Cardano blockchain will be shaped and voted on via fully decentralized governance, as detailed in CIP-1694,” Intersect stated.
Meanwhile, as Cardano enters this new phase, its founder, Charles Hoskinson, has engaged the community in a unique way. Following some recent public criticism, Hoskinson launched a poll on X (formerly Twitter) asking, “Is Charles Hoskinson a cancer for Cardano?”
As of now, the vote is nearly split, with the “no” responses holding a narrow majority at 51% to 49%. However, the poll has sparked diverse reactions across the community. Some prominent ADA supporters have defended Hoskinson and suggested the poll results might be influenced by bots or external factors.
Indeed, with six days remaining, the poll reflects the community’s mixed perspectives on Hoskinson’s role and influence within Cardano.
@ Newshounds News™
Source: Be In Crypto
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🌱 LAYERS OF THE GLOBAL CURRENCY RESET & REVALUATION: WHAT YOU NEED TO KNOW! | YOUTUBE
@ Newshounds News™
Source: Seeds of Wisdom Team RV Currency Facts
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