CandleFocus XRP Ledger Unveils New Identity Tools with DIDs and Proposed XLS Specs
2024-11-12
Author: Content Editor
Ripple's XRP Ledger (XRPL) is introducing three new proposed specifications and adopting Decentralized Identifiers (DIDs) to enhance security and regulation. These developments aim to increase adoption among institutions by providing tools for safe digital identity verification and controlled transactions. DIDs allow users to manage their identities directly without intermediaries, improving privacy and ownership. The XRPL has developed identifiers based on global standards for use by account holders. The platform has also activated the price Oracle amendment and proposed three technical standards to improve capacity and compliance. These specifications address compliance barriers and introduce permissioned domains and a permissioned DEX for regulatory-compliant trades. If approved by validators, these changes will attract institutional participants. The XRP Ledger development team is also exploring other use cases beyond payments.
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