In a significant development for the cryptocurrency world, Evernode, a Layer-2 smart contract solution built on top of the XRP Ledger (XRPL), has shared an exciting update regarding its impending launch. This news is poised to make waves as it brings the world one step closer to realizing the potential of smart contracts on the XRPL, a blockchain renowned for its speed and scalability.

Evernode’s tweet has set the crypto community abuzz, announcing that the Xahau project, a proposed Hooks sidechain and the smart contract sidechain for the XRPL ecosystem, is currently undergoing a comprehensive code audit by the Web3 audit platform, FYEO. According to the Chief Technology Officer of XRPL Labs, who goes by the name “Richard AH” on X, the code for Xahau, also known as the Xahau Ledger, is already complete. This development is a significant milestone for Xahau, which had its white paper jointly launched by XRPL Labs, Evernode, Alloy Networks, and others back in August.

Since its white paper debut, Xahau has been actively in development, gearing up for its much-anticipated launch. Wietse Wind, a developer at XRPL Labs, recently reported an upgrade to the Xahau Testnet (formerly known as Hooks V3 testnet) on September 25th. One of the notable additions in this upgrade is the “UNL Report” feature, wherein UNL (Unique Node List) nodes report the consistent operation of other UNL nodes, enhancing the overall reliability and security of the XRPL ecosystem.

The impending launch of Xahau holds paramount significance, not only for the XRPL but also for Evernode itself. Evernode indicated in its tweet that a crucial component of its code, referred to as “3 hooks,” is poised to enter Xahau’s code audit once the audit of b2m is completed. This move signifies a major step forward towards the actualization of Evernode’s vision.

“B2M,” short for “Burn2Mint,” is a mechanism introduced by Xahau, allowing its native token, Xahau XRP, to be ported to the platform. This native token is sourced from XRP burned on the XRPL, creating an exciting bridge between the XRPL and the Xahau ecosystem. Notably, an airdrop to XRP holders is planned following Evernode’s debut, with a substantial amount of “Evers,” Evernode’s intended native currency, reserved for this purpose. Once Xahau is released, users will have the opportunity to claim the airdrop based on their XRP balance on the XRPL, as recorded in the September 1st snapshot.

The collaboration between Evernode and Xahau represents a pioneering endeavor in the world of blockchain and cryptocurrency. By combining the robust features of the XRPL with the versatility of smart contracts, this partnership aims to open up a world of possibilities for developers and users alike.

As the code audit progresses and Xahau inches closer to its launch, the crypto community is eagerly anticipating the myriad opportunities that will arise. The integration of smart contracts on the XRPL promises to revolutionize various industries, including finance, supply chain, and beyond.

Evernode’s commitment to enabling anyone to host and deploy smart contracts on the XRPL is a testament to the democratization of blockchain technology. With Evernode and Xahau on the horizon, individuals and businesses can harness the power of smart contracts in a seamless and efficient manner, thanks to the XRPL’s unmatched speed and scalability.

The XRPL Labs team, led by the visionary “Richard AH,” has been at the forefront of blockchain innovation. Their dedication to pushing the boundaries of what is possible within the XRPL ecosystem has been instrumental in bringing projects like Xahau and Evernode to fruition.

As we await the official launch of Xahau, it is essential to keep an eye on the rapidly evolving blockchain landscape. The XRPL’s ability to facilitate smart contracts through projects like Xahau and Evernode reaffirms its position as a formidable force in the cryptocurrency world.

In conclusion, Evernode’s latest update regarding the progress of Xahau’s code audit marks a significant milestone in the journey towards enabling smart contracts on the XRP Ledger. With the XRPL’s innate speed, scalability, and security, the integration of smart contracts holds immense promise for various industries. As Xahau’s launch draws nearer, the crypto community is poised to witness groundbreaking developments that will shape the future of blockchain technology.