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Learn how softstack’s security audit of Ripple’s Multi-Purpose Token standard on XRP Ledger validated secure blockchain implementation and scalable tokenization solutions.
Client
Ripple
Project
Multi-Purpose-Token Standard (MPT)
Industry
Blockchain Security & Audit
Service
Comprehensive Security Assessment
Ripple Labs engaged us, softstack, to conduct a comprehensive XRP Ledger security audit of the Multi-Purpose Token (MPT) standard. With MPTs representing a scalable and efficient solution for token issuance, Ripple aimed to ensure that these implementation met the highest standards of security and efficiency for a wide range of applications, including stablecoins, real world assets (RWA), utility tokens, and loyalty points.
The primary goal was to validate the security, functionality, and scalability of MPTs while verifying Ripple’s claims around storage and performance optimization. Softstack’s audit covered:
Our XRP Ledger security audit comprised both manual and automated reviews, covering critical aspects such as symbolic execution, test coverage, and best practices. Softstack’s experts analyzed key functions, while testing for issues like potential race conditions in MPT locking/unlocking.
During our XRP Ledger security audit, softstack identified a total of four issues:
We recommended practical mitigations to further fortify MPT’s resilience, which were accepted and implemented by Ripple.
To read the full audit report, go to our GitHub.
Ripple’s MPT functionality on the XRP Ledger was deemed secure, efficient, and ready for deployment. By leveraging our audit, Ripple demonstrates its dedication to secure, scalable digital asset solutions.
This XRP Ledger security audit reinforces softstack’s role in advancing security in Web3, emphasizing the value of transparency and meticulous evaluation in building trust. Ripple’s secure and efficient MPT implementation stands ready to support a diverse range of tokenizations.
Blockchain security doesn’t have to be complicated. Whether you’re launching a new token or updating existing smart contracts, our team is here to help. We’ve worked with major web3 companies such as Ripple, but we bring the same expertise and attention to every project, regardless of size.
Want to learn how we can help secure your blockchain project? Let’s chat!