Founder of XPMarket Expresses Disapproval Towards Proposed XRP Ledger Alterations
Experience XPMarkets' Stand Against Proposed XRP Ledger Amendments
Artur Kirjakulov, the mastermind behind XPMarkets, is standing firm against the passage of two key amendments on the XRP Ledger: Credentials and Permissionsed Domains. His team is rallying other validators to do the same.
Kirjakulov argues these amendments cater to hypothetical institutional use cases that are currently in low demand.
He bolsters his stance by sharing some thought-provoking stats: Only three Digital Identity (DID) transactions were recorded last month, while the RLUSD stablecoin is seldom used. Moreover, there's no institutional presence on the ledger, and there's a lack of meaningful real-world asset use cases on the chain.
In the eyes of Kirjakulov, the XRPL has transformed into a playing field for meme coins, leaving serious developers unaided. Just four decentralized applications (dApps) bring in revenue on the XRP Ledger, and he attribues this to the absence of suitable tools that could enable developers to create effective applications.
To boost the utility of the ecosystem, Kirjakulov suggests implementing tools like batch transactions, advanced trading, and token escrow.
"As validators, we're taking a stand...It's time to make XRPL work for those who are building, not those who aren't even here," he declares.
#XRP News | #XRPL
Enrichment Data:
- The Credentials amendment (XLS-70) focuses on managing authorization and compliance on the XRP Ledger, from introducing new transaction types and ledger entries to modifying existing ones to support credential-based authorization for deposits and other actions. However, the provided data does not reveal any specific arguments or concerns raised by Artur Kirjakulov or XPMarkets regarding this amendment or the Permissionsed Domains amendment.
- To gain perspectives from Artur Kirjakulov or XPMarkets on these amendments, it's advisable to look beyond traditional search results, such as forums, social media, or community discussions.
- Artur Kirjakulov, the visionary founder of XPMarkets, advocates against the implementation of the Credentials and Permissionsed Domains amendments on the XRP Ledger, asserting that they cater to hypothetical institutional use cases with little current demand.
- In an effort to bring other validators to their side, Kirjakulov's team has been sharing statistics that underscore the diminished use of the Digital Identity (DID) system and RLUSD stablecoin on the ledger.
- Despite the theoretical appeal of these amendments, Kirjakulov argues that the XRP Ledger has transitioned into a playing field for meme coins, neglecting the needs of serious developers.
- He points out that only four decentralized applications (dApps) generate revenue on the XRP Ledger, attributing this to a lack of essential tools for developers to create useful applications.
- In response, Kirjakulov proposes equipping the ecosystem with tools such as batch transactions, advanced trading, and token escrow to improve its utility.
- Standing firm in his conviction, Kirjakulov asserts that as validators, it's their duty to champion changes that support the development community instead of catering to the absent institutional sector, promoting the hashtag #XRPNews and #XRPL.
