XRP Ledger’s Evernode Migrates to Hooks Testnet For Launch

The proposed XRP Ledger (XRPL) Layer 2 smart contract protocol dubbed Evernode is said to be ready for launch. 

According to a Twitter post, the launch date is drawing nearer and the protocol is migrating to the third version of the Hooks testnet in readiness. The discussions to develop side chains with XRP as the native cryptocurrency has been ongoing for a while. Wietse Wind, XRPL Labs’ lead developer revealed the plans earlier this year while also stating that they had already signed a security audit contract.

The side chains are aimed at testing the abilities of Evernode before finally implementing it on the main network otherwise known as the mainnet. To clarify, Hooks are minute codes designed to complete instructions alongside XRPL transactions. They are said to equip the XRLP with smart contract capabilities.  

Token Airdrop to Follow Evernode Launch

Markedly, the migration to version 3 Hooks testnet will take an estimated period of 7 days during which network participants will be required to install a new edition of Evernode.

Following the launch of this protocol, an airdrop of 2,580,480 Evers has been planned for XRP holders. Ever is the proposed token for Evernode designed for the airdrop. This airdrop is not the same as the reward that would be distributed to developers and test net participants, according to the whitepaper.

Former Australian Lawyer Scott Chamberlain said “Evernode getting ever closer to launch. We need our beta hosts to prepare for a switch to the v3 Hooks testnet as the final step for testing so we can be ready to launch on the xrpl labs Hooks sidechain…”

Noteworthy, Evernode is the brainchild of Scott Chamberlain and Richard Holland, the XRPL Foundation technical advisor who doubles as a major supporter of the Hooks amendment proposal.

The XRPL network is gradually becoming a household name with many other protocols leveraging its system. Last year, Australian software giant, Novatti Group utilized XRPL to launch a new Australian dollar-pegged stablecoin dubbed AUDC. 

Meanwhile, in the case of Ripple’s lawsuit with the United States Securities and Exchange Commission (SEC), the former has cited Voyager. Digital’s bankruptcy ruling to gain an edge over the regulator.