RippleX has announced a highly anticipated update to the XLS-40 amendment, which is set to incorporate Decentralized Identifiers (DIDs) based on World Wide Web Consortium (W3C) standards on the XRP Ledger (XRPL).
The report reveals that a minor issue has been discovered in the XLS-40 decentralized identity specification. The introduction of the XLS-40 feature has generated a lot of excitement within the blockchain community, as it paves the way for the integration of digital identity into the XRP Ledger. Sologenic, a tokenization platform built on the XRP Ledger, confirmed in an official release that the XLS-40 amendment will enable native support for DIDs on XRPL.
According to a previous report by Crypto News Flash, the implementation of the XLS-40 feature, along with the XLS-38 Cross-Chain Bridge, will mark the launch of Ripple 2.0.
Several months after the initial announcement, Ripple Labs’ development arm, RippleX, has provided an update stating that a minor issue has been identified in the XLS-40 decentralized identity specification, specifically related to the creation of empty DID objects. The technical team has promptly proposed a solution, which is currently under review. RippleX has tweeted that validators have not yet voted on the amendment, emphasizing the importance of a fixed amendment being made available before the vote takes place.
The report explains that an empty DID object is equivalent to having no DID object at all. Thankfully, this can be resolved with the “AddthefixEmptyDID” amendment, which is expected to be included in the next core XRPL software release, rippled version 2.2.0.
The integration of DIDs on XRPL aims to address challenges associated with centralized identifiers, such as emails and usernames. DIDs provide a globally unique alphanumeric string that serves as an independent and blockchain-based identifying address. This ensures data ownership and control, reducing the risk of data breaches. DIDs also empower users to digitally sign and issue Verifiable Credentials, such as educational certificates, facilitating instant and secure verification.
With the implementation of XLS-40, users will have the opportunity to manage and control their digital identity, ensuring a secure and consistent experience across various applications. Key benefits include enhanced trust and security in cross-border transactions. With XRPL DID, there is the potential for a verifiable and secure identity, minimizing the risk of fraud in financial interactions. XLS-40 also allows users to selectively share their DID-related data for privacy and user control. The official report highlights that individuals will only need to share necessary information when accessing online services.
Referring to a publication by Crypto News Flash, the XRPL recently integrated an Automated Market Maker (AMM) Amendment, demonstrating the commitment to transforming the ecosystem with several other initiatives in the pipeline.
This initiative has generated anticipation within the blockchain community, as it is expected to have a transformative impact on digital identity management. The XRPL is set to become a pioneer in providing secure and user-centric digital identity solutions.