The CTO of XRPL Labs, the team behind the XRP wallet Xumm and the XRPL sidechain Xahau, has submitted a new proposal to enable “atomic” multi-asset payments.
Today, December 4th, XRPL Labs Chief Technology Officer (CTO) Richard Holland launched a new proposition called . “XLS-55d – Send: Atomic Multi-Asset Payment to Zahau”
This initiative is hosted We aim to revolutionize payment transactions within the Xahau sidechain on GitHub.
New payment transactions on XRPL sidechain
Remit is a new payment processor created specifically for Zahau, Holland said. Its purpose is to allow senders to seamlessly ship multiple currencies and tokens to specified destinations in an atomic manner.
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Holland pointed out that Remit is a push payment system with the fundamental principle of ensuring delivery “no matter what happens.” According to the disclosure, this mechanism is explicitly tailored for hook and retail use cases.
Remit’s main limitations outlined by Holland include the ability for senders to send multiple issued currencies. He also pointed out that the same flexibility applies to new and existing URITokens owned by the sender.
Additionally, Holland said traders are carefully structuring their actions. For example, if either destination creation or trustline creation is missing, we will require the sender to pay a fee.
What is important is to ensure that the exact amount and tokens specified in the transaction reach the recipient. However, the condition is that the verification with the code “tesSUCCESS” is successful.
Wietse Wind, founder of XRPL Labs, expressed his excitement about Richard Holland’s proposal. He described a real-world use case where multiple packages such as payments, royalties, and vouchers can all be shipped together with Remit.
XLS-55: REMIT transaction type.
Send multiple assets in one atomic transaction.
Either everything is sent, or nothing is sent.
Just one example: Payment + Loyalty + Voucher @ 1 time
– Product: 10 euros
– Discount @ 500 points = 1 euro
– Voucher (URIToken) = 20% offhttps://t.co/87kqHmwMEd— WietseWind (🛠+🪝 Xumm @ XRPL Labs) (@WietseWind) December 4, 2023
Other features of Remit
Additionally, due to Remit’s design, senders are responsible for all transfer fees, and these fees are separate from the amount transferred. Richard Holland also pointed out that traders are preparing for a switch. In other words, the sender must own the tokens of the asset they plan to send.
On the other hand, users who do not want to receive money transfer transactions have several options. A recipient can configure her asfDisallowIncomingRemit setting in her account or install a hook to manage incoming Remit.
Furthermore, it is also possible to burn an unwanted URIToken or return an unwanted issuing currency in order to recover the reserves originally paid by the sender.
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