Ripple Engineer Targets Smart Contract Security..."XRP Ledger Has No Attack Path"

▲ XRP, Public opinion manipulation/ChatGPT generated image

The XRP Ledger is once again highlighting its security advantages by leveraging a native multi-signature structure that does not rely on smart contracts.

According to crypto news outlet U.Today on May 26 (local time), Ripple engineer Mayukha Vadari recently emphasized the absence of smart contract risk as a key advantage of the XRP Ledger's native multi-signature feature via X (formerly Twitter). Vadari explained that multi-signature is not a feature added through third-party smart contracts but is directly embedded in the protocol, meaning this attack path does not exist for XRP Ledger accounts.

Vadari's remarks came in response to a report from Blockaid, which detected an exploit targeting the SquidRouterModule on the Ethereum (ETH) and Base networks. In that incident, approximately $3 million was drained from 86 Gnosis Safes in about two hours, and the stolen tokens were swapped for DAI through a Uniswap V3 pool controlled by the attacker.

Vadari stated, “The advantage of XRP Ledger's native multi-signature is the absence of smart contract risk. Because multi-signature is not added via a third-party smart contract but is directly embedded in the protocol, this attack path literally does not exist for accounts.” She added, “This is why native functionality is important.”

Vadari also addressed criticism that while there are many apps supporting multi-signature in the Bitcoin ecosystem, there are almost none in the XRP Ledger ecosystem. She clarified that while self-custody apps may not have extensive multi-signature support, many custodial apps do support this feature. U.Today reported that custodial apps often represent a larger user base for this functionality. Vadari also explained that the XRP Ledger's multi-signature implementation differs from Bitcoin (BTC), noting that Bitcoin was closer to basic M-of-N support until Taproot in 2021. The XRP Ledger's multi-signature was launched in June 2016.

The XRP Ledger's multi-signature is a native structure that approves transactions with a combination of multiple secret keys. User addresses can be configured with a combination of multiple approval methods, including multi-signature, master key pairs, and regular key pairs, with at least one approval method required to be active. This structure offers several advantages over other ledger methods. For example, signers or quorums can be changed without altering the receiving address, and individual signers can replace their credentials without affecting funds on the ledger.

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