David Schwartz hailed new AMM engine that is now live on XRPL DevNet
David Schwartz, chief technology officer (CTO) at blockchain payments firm Ripple Labs Inc has named one of the thrilling features linked to the XRPL protocol today. According to the tech veteran, the new Automated Market Maker (AMM) engine that has gone live on DevNet is one innovation he is personally excited about.
Schwartz believes the AMM tool has been introduced in a unique way in the Ripple ecosystem over the past 10 years. Per the tweet Schwartz quoted, the AMM engine brandishes quite a number of features ranging from the support of one-sided liquidity provision, continuous auctions and CLUB functionalities, among others.
I’m more personally excited about this feature than any other proposed XRPL feature in the past ten years. https://t.co/FAClvsUEQe
— David “JoelKatz” Schwartz (@JoelKatz) April 25, 2023
AMM is a type of trading engine that has become the key underlying feature of decentralized exchanges. While it was pioneered by Uniswap (UNI), there are tons of innovative new features that have been added to the protocol to make it more functional.
That AMMs is now resident on XRPL is a move toward enhancing its push toward embracing true diversity in the fast-growing Web3.0 ecosystem.
One-stop shop for all
By its design, XRPL is being branded as a one-stop shop for everyone in the Ripple and XRP ecosystem. As the ecosystem’s smart contract outfit, XRPL is being pushed to support high performance decentralized finance (DeFi) applications as well as non-fungible Tokens (NFTs).
While these allowances will enable it to compete with other mainstream smart contract hubs in the industry, the AMM outfit will further give XRPL a competitive edge based on its design. XRPL’s AMM is designed to be secured by the Federated Consensus model, which helps avoid gas wars as it is associated with networks run by validators.
Usability and a protocol to access almost all offerings is what Web3.0 users are yearning for today, and XRPL is notably stepping up its game in this regard.