XRP Smart Contracts: A New Challenger to Ethereum

Since 2017, the cryptocurrency landscape has transformed, with Ethereum leading with its smart contract capabilities. The market has seen various new platforms aiming to dethrone Ethereum like Solana and Avalanche. However, XRP, often overlooked, might just emerge as a pivotal player. With Ripple's XRP Ledger (XRPL) set to integrate smart contract capabilities through a feature called 'hooks', this may change the game. Hooks will allow programmable transactions, meaning users can automate payments based on specific conditions. Imagine receiving a paycheck automatically divided into savings and expenses, or a payment being released upon project completion. At the institutional level, this flexibility can streamline cross-border transactions, ensuring compliance with local laws and taxes. Furthermore, partnerships with Flare Network introduce interoperability, allowing XRP to operate across multiple blockchains. This integration could enhance XRP's functionality in decentralized finance (DeFi), NFTs, and liquidity management. While XRP has already established itself as a primary instrument for banks, the addition of these smart contracts may solidify its role in the crypto universe, further positioning it as a major player in cross-chain liquidity.