Smart Contracts on XRP

[Abiky]

For long, "XRP" has been one of the most prominent cryptocurrencies on the market with the ability to provide quick speeds at a fraction of the cost. The Ripple company has made some partnerships with several banks in order to increase the adoption of the "XRP" cryptocurrency within the mainstream world. While "XRP" works great as a financial system with real-time settlement of transactions, I believe that its use cases within the mainstream world could be expanded via the use of smart contracts.

After all, XRP's main contender (Stellar) already has smart contracts functionality. I'm not aware of this being possible with XRP yet, but it'll be blast dealing with "dApps" (sort of since XRP is centralized) someday that would have near-instant performance on the distributed ledger (unlike Ethereum and other smart contract platforms). If successful, the XRP Ledger could gain the likes of mainstream businesses and companies looking to issue their own tokens or develop "dApps" that would prove to be cost-effective and efficient in every way. Even though XRP is largely centralized (unlike Ethereum) it could become the top choice for STOs, IEOs, and other tokens because of its unparalleled performance.

Do you think XRP will adopt smart contract functionality someday? If so, do you think I'll become a viable competitor against Ethereum or any other established smart contract platform? What are your thoughts?

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[DarkDays]

Absolutely not.

XRP is built for cross-border value exchange, there is no need for DApps or smart contracts. It's a completely different kind of platform to ETH, TRON, NEO etc, it's not competing with them as a decentralized computer.

[Abiky]

Absolutely not.

XRP is built for cross-border value exchange, there is no need for DApps or smart contracts. It's a completely different kind of platform to ETH, TRON, NEO etc, it's not competing with them as a decentralized computer.

I'm aware. But I believe that XRP's capabilities could be expanded to "infinity and beyond" once it adopts smart contract functionality. It's already one of the fastest and cheapest cryptocurrencies to use today. If XRP adopts smart contracts, you could expect it to become a major rival of Ethereum and other smart contract platforms. Tokens would perform much better over XRP than ETH itself. This opens up a path for businesses, startups, and companies to start issuing STOs and IEOs on a scalable distributed ledger. While I agree that XRP is centralized whereas Ethereum is not, the fact that it's much more scalable than most cryptocurrencies of today would allow said entities to become interested in it. With the many partnerships Ripple has obtained over time, I'd be surprised to see it become a major contender of popular cryptocurrencies on the market sometime in the future.

Nonetheless, adoption is necessary for XRP or any other cryptocurrency to succeed in the mainstream world. XRP could be much more scalable than other cryptocurrencies of today. But if it lacks adoption, it'll fade into oblivion. Despite the number of years since XRP's inception, Ethereum and other cryptocurrencies have greater level of adoption within the mainstream world. But who knows? Maybe XRP turns out to be quite successful in the long run. Time will tell us what the outcome of XRP's development will be within the mainstream world. Just my thoughts

[seoincorporation]

...
Do you think XRP will adopt smart contract functionality someday? If so, do you think I'll become a viable competitor against Ethereum or any other established smart contract platform? What are your thoughts?

If they do it then we will have cheap smart contracts and that means more shitcoins each day in the market...

Personally i don't like ripple at all, i feel like it's a centralized coin because we can't download the core and the owners play with the amount of coins in the market. So, if they add the smart contract i don't think much people will be interested in them.

[tabas]

I don't think that there's a need for them to do this even if they have to.
There's no point of making smart contracts just like Ethereum and they should be more focusing somewhere else. I don't like this coin either but if it remains to be one big competitor for other altcoins then they should remain the way they are right now.

[Abiky]

If they do it then we will have cheap smart contracts and that means more shitcoins each day in the market...

Personally i don't like ripple at all, i feel like it's a centralized coin because we can't download the core and the owners play with the amount of coins in the market. So, if they add the smart contract i don't think much people will be interested in them.

Yes. But I don't think that'll happen since XRP is centralized and regulatory-compliant. The Ripple company will have the final say over the number of tokens available in the distributed ledger. For the business industry, the XRP Ledger will work wonders considering it's unmatched performance for smart contracts. Not to mention, the ledger itself will comply with government laws.

Most recently, the Ripple company invested in a new smart contract platform called "Flare Networks" (more info here). This could be a game changer for the XRP Ledger itself as it'll be able to compete with Ethereum (and other smart contract platforms) in the business sector. While we know that Ethereum will have a greater degree of decentralization than XRP itself, the latter will be more cost-effective for mainstream deployment of smart contracts by businesses, companies, and startups alike. With the many bank partnerships Ripple has, I believe that smart contracts within the XRP Ledger could gain traction quickly in the Fintech sector.

Nonetheless, time will tell us whenever XRP's smart contracts functionality will be a success or not. Given that there are many other smart contract platforms in crypto land with a large number of developers and individuals supporting it, I doubt that XRP will get the attention it deserves within the mainstream world. After all, XRP is centralized which could only attract the likes of mainstream governments and business entities. But everyday people will use Ethereum on top of XRP, because of its true censorship-resistant design. Just my thoughts

[lionheart78]

I would love to see XRP adopting smart contract to be able to compete with others.  I think this is one of the missing factor for XRP adoption.  They have the speed for transaction, the influence and contact, the huge community and if ever they adopt smartcontracts and start enabling the creation of Dapps, I think lots of crypto who loves dapps will jump to their boat.

If they do it then we will have cheap smart contracts and that means more shitcoins each day in the market...

This can be prevented by spiking the price to create token under their platform.

Personally i don't like ripple at all, i feel like it's a centralized coin because we can't download the core and the owners play with the amount of coins in the market. So, if they add the smart contract i don't think much people will be interested in them.

Same here but I started to like it once I started using it.  The fast transaction saves me from the frustration of waiting for several minutes just to be confirmed.  Not saying that it is also one of the cheaper crypto in terms of transaction fee. 

And one thing, there is no absolute decentralization in this world.  Even Bitcoin is going the path of centralized crypto through 3rd party company or authority if ever regulation is implemented. 

[minairia3]

Absolutely not.

XRP is built for cross-border value exchange, there is no need for DApps or smart contracts. It's a completely different kind of platform to ETH, TRON, NEO etc, it's not competing with them as a decentralized computer.

Exactly, ripple has very own objective rather than having an ecosystem for dApps. I guess I could say that their much reliable than smart contract when it comes to business aspect. Their purpose is to incorporate blockchain to financial fiels such as banks and we can see that many have been affiliated with it.

But everyday people will use Ethereum on top of XRP, because of its true censorship-resistant design. Just my thoughts

Maybe not if they will used it for dApps maybe but, xrp has widely used over trading due to its low fee for withdrawal in most exchange. Censorship aside, many likes them due to this fact.

[Leonardo7]

I feel there is no need for them to develop a smart contract on their network, if they choose to do that, they must look for a way to avoid shitcoins from using their platform, this will be difficult because it ought to be decentralized. Another thing was told one has to permanently forfeit about 5 XRP or so in their private wallet as a way of activating and storing the coin, why will they adopt this style like a bank holding my fund in form of a minimum balance.

[Abiky]

I would love to see XRP adopting smart contract to be able to compete with others.  I think this is one of the missing factor for XRP adoption.  They have the speed for transaction, the influence and contact, the huge community and if ever they adopt smartcontracts and start enabling the creation of Dapps, I think lots of crypto who loves dapps will jump to their boat.

Maybe. But everything depends on mainstream adoption for XRP to succeed. If people continue to use Ethereum on top of XRP or any other smart contract platform, then the world's third-largest cryptocurrency by market cap won't make the difference. Still though, businesses and companies would find the XRP Ledger to be quite attractive for smart contracts. It's no secret that XRP is faster and cheaper than Bitcoin or Ethereum. Mainstream businesses and companies could leverage XRP's smart contracts feature in order to launch highly-performing tokens across the crypto market. I believe that STOs, ICOs, and even IEOs would be much more successful by using a scalable distributed ledger that focuses on speed and low costs than anything else. The only downside would be the risk of centralization. But a system like this is perfect for the regulated banking industry and the businesses world.

We'll see what will happen with XRP once it adopts the "Flare Network" for smart contracts. It might become a viable competitor against Stellar and Ethereum if this new feature becomes a success.

Same here but I started to like it once I started using it.  The fast transaction saves me from the frustration of waiting for several minutes just to be confirmed.  Not saying that it is also one of the cheaper crypto in terms of transaction fee. 

And one thing, there is no absolute decentralization in this world.  Even Bitcoin is going the path of centralized crypto through 3rd party company or authority if ever regulation is implemented.

Exactly. Unfortunately, that's the path crypto is heading to. The mere fact that the industry is dependent on centralized exchanges and services to succeed has a lot to say about it. People don't care about decentralization as long as they're able to send/receive money (and make profit along the way) in the most convenient way possible. The XRP Ledger, although much more centralized than leading cryptocurrencies like Bitcoin or Ethereum, could gain a lot of prominence within the mainstream world due to its fast settlement speed and low fees. This combined with smart contract functionality, could open up a whole new world of possibilities. XRP could challenge Ethereum in crypto land, if businesses and companies start to adopt it at a large scale. With the many bank partnerships the Ripple company has obtained over time, its XRP distributed ledger could become widely adopted worldwide.

Nonetheless, I believe that the XRP Ledger could ramp up the competition within the smart contracts space with Ripple's acquisition of the "Flare Network". Ethereum, Cardano, EOS, and other smart contract platforms will battle alongside XRP for supremacy within the Blockchain industry. While Ethereum is still the leader of smart contracts (decentralized applications), this could be subject to change in the future. Maybe XRP will prevail, or none will be able to outmatch ETH within the crypto space? It'll be interesting to see how everything unfolds with XRP entering the game of smart contracts. Just my thoughts

[nelson4lov]

I don't see why Ripple should implement a smart contract functionality into their platform. It'll be of no use. It's kinda like reinventing the wheel and that's not even the original implementation of Ripple so it's a big no no for me. If anyone wants to use smart contracts, convert your XRP to ETH and deal. Ethereum and Ripple were created to solve two different problems. That said, I think people should stop trying to compare these platforms. It's no good.

[hatshepsut93]

Who cares about smart contracts, they are not seriously used for anything beside demos and experimental apps, there's no need to rush to implement them (and rushing would only introduce bugs and vulnerabilities), it's better to wait and see if smart contracts will ever go mainstream, and only then implement them if it's really worth it. Ethereum will always have the first-mover advantage, you can't win this race against them.

[shinratensei_]

I do not think that they are working on that, you can check their whitepaper and roadmap, ripple is a different project and it is critized the most because it is run like a private company or we can say that the perception is that it is a centralized coin and also team is holding major supply which can dump on members anytime they want.

They have been announcing if the ripple team is working on xspring and i heard this news last year. As far as i know, if the ripply company is not even putting it as their priority and it seems like Xspring already abandoned. It looks like they were creating such a crap smartcontract to bring the hype to the ripple again to make people wanna speculate on ripple.
The team is focusing to send the more coins to the escrow as they can start to dump their shit pre-mined coin to the market. Just remind everyone if ripple never focuses to create a product.
This is a company that specialized in the creation of MVP. I don't take the ripple blockchain as a product too lol because it's completely has nothing to do with XRP coin and that make XRP coin becomes garbage coin without any usefulness.

[joseyphil82]

I doubt ripple can go smart contract, even if that happens developers will prefer decentralized over centralized, the only benefit this can give to developers is STO projects, think about it

[jessyj48]

There is no need for Dapps on ripple, it wasn't designed to work this way, using smart contract on ripple network doesn't sound right at all , ripple is better the way it is and I'm sure the devs are aware of that

[mindrust]

Why is there a need for Ripple in the first place? It is premined, is centralized. It is a pump and dump scamcoin with no real world use.

While It is already shitty enough making it even shittier is not going to help.

If you want to improve ripple, just delete it.

[Bitbtc8]

Why is there a need for Ripple in the first place? It is premined, is centralized. It is a pump and dump scamcoin with no real world use.

While It is already shitty enough making it even shittier is not going to help.

If you want to improve ripple, just delete it.

If there is no need for ripple then I wonder how it get to it's position on Coinmarketcap, I belief ripple is the only coin that can be more friendly with the government because it's centralized, it can be easily accepted as means of payment for other companies too, these people wants something they can control and ripple is the answer

[timmyfloor]

I do not think XRP will drop their smart contract functionality.

[mindrust]

Why is there a need for Ripple in the first place? It is premined, is centralized. It is a pump and dump scamcoin with no real world use.

While It is already shitty enough making it even shittier is not going to help.

If you want to improve ripple, just delete it.

If there is no need for ripple then I wonder how it get to it's position on Coinmarketcap, I belief ripple is the only coin that can be more friendly with the government because it's centralized, it can be easily accepted as means of payment for other companies too, these people wants something they can control and ripple is the answer

Coinmarketcap is another scammer for listing ripple at the top of the list for years.

Do  you think they'd list it in the first page of CMC if I created a coin like ripple where I own more than half of the total coin supply? What? Do you think I am trying to scam people? You got that right because that's exactly what ripple is doing.

https://hackernoon.com/a-brief-look-into-ripple-xrp-banks-pre-mines-and-lawsuits-qcn63au2

XRP suffers from points of centralization. Roughly 60% of XRP are controlled by the private, for-profit company Ripple forcing users to trust a large entity (like a bank) with the fate of their money.

A total shitcoin.

[TimeTeller]

...
Do you think XRP will adopt smart contract functionality someday? If so, do you think I'll become a viable competitor against Ethereum or any other established smart contract platform? What are your thoughts?

If they do it then we will have cheap smart contracts and that means more shitcoins each day in the market...

Personally i don't like ripple at all, i feel like it's a centralized coin because we can't download the core and the owners play with the amount of coins in the market. So, if they add the smart contract i don't think much people will be interested in them.

Yes, I believe that if they will ever venture in smart contracts.
Scammers will find another way to screw money from investors as they can create their project so easily.
We don't need another platform that will cater to customers to create their projects as easy as 1-2-3.