Xahau

Purpose and Utility

Xahau is a new Layer 1 blockchain designed specifically as a smart contract platform for the XRP Ledger (XRPL) ecosystem. It aims to provide smart contract functionality without modifying the main XRPL, maintaining the latter's focus on payments. Xahau was created by XRPL Labs and launched in late 2023.

Business Model and Infrastructure

The platform focuses on enabling smart contracts, decentralized applications (dApps), and automated services within the XRP ecosystem. It uses a unique 'Hooks' system for smart contracts, which are pre-compiled and more efficient than traditional smart contracts. The native XAH token is used for transaction fees and network security.

Development and Adoption

The project has strong technical foundations with active development from XRPL Labs. The ecosystem is in its early stages but has garnered attention from XRPL developers interested in building smart contract applications. Several projects are already being developed on the platform.

Token Distribution

The token distribution appears transparent, with no pre-mine for founders. Tokens are generated through network validation, similar to the XRPL consensus mechanism. This approach aligns with fair distribution principles.

Technology Assessment

The underlying technology focuses on providing legitimate utility through smart contract functionality. The platform does not inherently facilitate interest-based lending or gambling activities. The core functionality revolves around enabling developers to build decentralized applications and smart contracts.