{"id":121247,"date":"2023-07-12T07:09:56","date_gmt":"2023-07-12T07:09:56","guid":{"rendered":"https:\/\/dripp.zone\/news\/ripples-automated-market-maker-successfully-audited-crypto-news\/"},"modified":"2023-07-12T07:09:58","modified_gmt":"2023-07-12T07:09:58","slug":"ripples-automated-market-maker-successfully-audited-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ripples-automated-market-maker-successfully-audited-crypto-news\/","title":{"rendered":"Ripple’s Automated Market Maker Successfully Audited\n – Crypto News"},"content":{"rendered":"

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<\/a><\/p>\n

Alex Dovbnya<\/a><\/p>\n

The validation comes amid recent controversies regarding the efficacy of CertiK’s audits.<\/p>\n<\/div>\n<\/div>\n

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Ripple’s XLS-30d, an automated market maker (AMM) developed on top of the XRP Ledger, has successfully underwent<\/a> a security audit conducted by blockchain security firm CertiK.<\/p>\n

CertiK has assessed its security and confirmed its adherence to high-security standards, highlighting its importance in the evolution of decentralized exchange functionality.<\/p>\n

An AMM is a kind of protocol used in decentralized exchanges (DEX) which determines the price of assets using specific mathematical calculations. Instead of using an order book like a traditional exchange, where buyers and sellers create orders at different prices, an AMM sets the price of a token based on a pricing algorithm. In an AMM, liquidity providers deposit pairs of tokens into a liquidity pool. These pools make trading possible because users can trade directly with the pool, instead of having to find another person to trade with.<\/p>\n

The XLS-30d proposal, which was introduced in January, brings a slew of new features such as new transaction types, voting on trading fees as well as a continuous auction mechanism.<\/p>\n

Established in 2018, CertiK primarily focuses on identifying potential vulnerabilities in blockchain protocols and smart contracts to ensure their safety and correctness.<\/p>\n

In addition to security audits, Certificate<\/a> provides on-chain monitoring services, and has developed a product called Skynet that assigns security scores to smart contracts and blockchain protocols.<\/p>\n

It is worth mentioning that CertiK recently faced controversy in the wake of a significant security breach. Merlin DEX, a decentralized exchange on the zkSync platform, was compromised by bad actors just days after CertiK conducted an audit.<\/p>\n

The firm defended the quality of its audit and attributed the loss to a private key management issue rather than a flaw in the platform’s code.<\/p>\n

The successful audit of Ripple’s XLS-30d marks a shared commitment between Ripple and CertiK to enhance the security and reliability of the blockchain ecosystem.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Alex Dovbnya The validation comes amid recent controversies regarding the efficacy of CertiK’s audits. Ripple’s XLS-30d, an automated market maker (AMM) developed on top of the XRP Ledger, has successfully underwent a security audit conducted by blockchain security firm CertiK. CertiK has assessed its security and confirmed its adherence to high-security standards, highlighting its importance […]<\/p>\n","protected":false},"author":2,"featured_media":121248,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-121247","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/121247","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=121247"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/121247\/revisions"}],"predecessor-version":[{"id":121249,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/121247\/revisions\/121249"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/121248"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=121247"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=121247"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=121247"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}