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News

XRP Ledger testing hooks for transaction flow

Friday 23 April 2021 14:09 CET | News

Netherlands-based information technology company XRPL Labs has announced releasing the Hook-Testnet into the public beta after nine months of development throughout 2020.

According to an XRPL Labs representative, hooks are ‘efficient pieces of code that are defined on an XRPL account’. This allows transactions to be dispersed between two or more parties, depending on their degree of complexity. Hooks can therefore influence the behaviour and flow of transactions. Simple command structures can be mapped, such as ‘payment rejection’ or ‘send to saving account’ instructions. The more parties and transactions, the more complex the processes become.

XRPL Labs plans to have eight months of testing development before hooks can be integrated into the XRP Ledger. In the end, the validator nodes decide the XRP ledger hooks launch since 80% approval is required for integration. If the testnet passes the stress test, the ripple currency could soon be integrated into smart contracts.


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Keywords: payment processing, smart contracts, transactions , mobile payments
Categories: Payments & Commerce
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Countries: Netherlands
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