DFINITY Community Unveils Proposal to Investigate New Standards for RWA and Stablecoin Ledgers

Developer community of DFINITY The team behind the Internet Computer (ICP) blockchain, known for its cutting-edge technology, has introduced a proposal aimed at establishing fresh standards for the management of real-world asset (RWA) and stablecoin ledgers.

The working group focused on tokens is actively developing standards that cater to the specific demands of RWA ledgers, particularly those that must comply with CMTAT standards, alongside standards for stablecoin ledgers. These specialized ledgers often necessitate unique management practices to ensure regulatory compliance, security, and operational integrity.

According to the proposal document, this initiative has taken into account various management operations that can be executed by authorized entities. One suggested operation involves temporarily freezing all transaction processing while still allowing read access to the ledger state. This is particularly useful in situations such as system maintenance, security alerts, or regulatory interventions.

Furthermore, the proposal includes an option to deactivate the ledger entirely, resulting in a complete and irreversible halt to all transaction processing. Unlike a mere pause, this deactivation ensures that the ledger will no longer be utilized for any transactions, although its historical data remains retrievable.

Additionally, another suggestion is to restrict certain accounts from engaging in transactions. This could serve as a compliance measure or response to suspicious activity. Another operation proposed is the ability to withdraw all tokens from a specific account, which can address scenarios like fraud, regulatory measures, or account closure requests from users.

These suggested operations aim to create a robust framework for the secure and compliant management of token ledgers. DFINITY encourages community input, noting that additional functionalities could enhance the current proposal.

DFINITY Suggests Alteration to Default Settings Within Its Service Nervous System

DFINITY’s mission is to build and enhance technology that bolsters the Internet Computer (ICP) blockchain and its surrounding ecosystem. The ICP blockchain is driven by innovative technology known as 'chain-key cryptography,' which facilitates rapid operations comparable to web speeds while maintaining high efficiency. This advancement empowers smart contracts to deliver services directly to the web, allowing on-chain computing to expand without limits. Such capabilities suggest that blockchain can serve as a viable alternative to traditional IT setups like cloud services.

In recent developments, the Governance team at DFINITY, which actively contributes to the ICP blockchain, has proposed a change to the default settings within the Service Nervous System (SNS). This initiative seeks to adjust the parameter NervousSystemParameters.automatically_advance_target_version from false to true, enabling new SNSs to seamlessly upgrade to the latest approved version without needing manual action. proposed Please be advised that the content on this page does not serve as, and should not be construed as legal, tax, investment, financial, or any other advisory. It’s crucial to only invest what you can afford to lose and to seek independent financial counsel if you have any uncertainties. For in-depth information, we recommend reviewing the terms and conditions, as well as the support pages provided by the issuer or advertiser. MetaversePost is dedicated to delivering accurate and impartial news; however, market conditions may change without prior notice.