With the much-anticipated REMIT upgrade now in effect, customers utilizing the Xahau sidechain can harness a groundbreaking payment transactor to send value across the chain in a more resource-efficient manner.
Today, on March 31, 2024, XRPL's Xahau sidechain successfully activated the REMIT upgrade, marking a significant milestone in its evolution. At its essence, the REMIT upgrade extends the functionality of the XLS-55d proposal, originally designed for XRPL-like networks, to the Xahau sidechain.
Central to this upgrade is the introduction of Atomic Multi-Asset Payments, enabling users to send multiple currencies and tokens atomically to a designated destination.
Described by the proposal authors as akin to a push payment mechanism that guarantees delivery "no matter what," this feature is tailored for retail and Hooks use cases. Users also have the flexibility to customize their on-chain accounts to disable Remit transactions if desired.
The REMIT upgrade unlocks a plethora of opportunities for real-world adoption of both the XRP Ledger and the Xahau sidechain. For instance, issuers now have the capability to execute single atomic transactions encompassing XRP crypto and tokenized vouchers, facilitating seamless cross-asset transfers.
XLS-55d was initially introduced for Xahau just two weeks ago, following its successful launch for the XRP Ledger on December 4, 2023.
Since its mainnet debut on October 31, 2023, the Xahau sidechain has empowered the XRP Ledger with smart contract functionality, enabling developers to deploy diverse dApps tailored for the XRP community.
In a testament to its growing decentralization, Xahau has witnessed a notable expansion in its network of validator nodes by the end of March 2024.
According to estimates provided by Alloy Networks, a leading infrastructure provider for the XRP Ledger and Xahau, the total number of nodes has reached 850.
Following the activation of REMIT, the core asset of Xahau, XAH, experienced a price surge on the Bitrue crypto exchange, climbing from $0.1315 to $0.1368, underscoring the market's positive reception to the upgrade and highlighting the growing confidence in Xahau's future prospects.
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