Flensburg, Germany--(Newsfile Corp. - December 13, 2024) - Softstack GmbH, a leading blockchain security firm, has successfully completed a comprehensive security audit of Ripple's Multi-Purpose Token (MPT) standard on the XRP Ledger. The assessment evaluated MPT implementation across critical security parameters, including code efficiency, storage optimization, compliance with best practices, and overall functional integrity.
XRP Ledger - Multi Purpose Token Standard Security Assessment by softstack
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The in-depth security evaluation revealed no critical, high, or medium-severity vulnerabilities, confirming the robustness of the MPT implementation. The audit identified only two low-risk issues and two informational findings, each addressed with practical security enhancement recommendations.
"We are proud to collaborate with Ripple to strengthen the security of the MPT standard on the XRP Ledger through this comprehensive audit, reinforcing trust and reliability across the ecosystem," stated Yannik Heinze, CEO at Softstack.
The audit validates Ripple's innovative MPT solution, which enables efficient and scalable token issuance on the XRP Ledger. This successful security assessment reinforces Ripple's dedication to maintaining high security standards while advancing tokenization capabilities.
About Ripple:
Ripple is the leading provider of digital asset infrastructure for financial institutions-delivering simple, compliant, reliable software that unlocks efficiencies, reduces friction, and enhances innovation in global finance. Ripple's solutions leverage the XRP Ledger and its native digital asset, XRP, which was purpose-built to enable fast, low-cost, highly scalable transactions across developer and financial use cases. With a proven track record working with regulators and policymakers around the world, Ripple's payments, custody and stablecoin solutions are pioneering the digital asset economy-building credibility and trust in enterprise blockchain. Together with customers, partners and the developer community, Ripple is transforming the way the world creates, stores, manages and moves value.
About softstack:
Softstack stands at the forefront of Web3 security, delivering comprehensive Web3 security solutions and smart contract audits. Previously known as Chainsulting, softstack has established itself as a trusted security partner for leading Web3 projects. The company's expertise spans across DeFi protocols, token implementations, and complex smart contract systems, ensuring robust security measures for the evolving Web3 ecosystem.
For more information or to read the full audit report, please visit https://softstack.io/case-study/xrp-ledger-security-audit-of-ripples-mpt/.
Contact:
Annemieke Heinze, CMO
Softstack Media Relations
Email: press@softstack.io
Website: https://softstack.io
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