A new proposal for the XRP Ledger (XRPL) aims to modernize multi-signature transaction coordination by moving it entirely on-chain, eliminating the need for external communication channels and centralized coordinators. The proposal, titled "On-Chain Cosigner," was submitted to the XRPL Standards repository by developers Shawn Xie, Zhiyuan Wang, Chenna Keshava B S, and Mayukha Vadari.
The current XRPL multisig implementation, while functional, requires an off-chain coordination process where a transaction is created, distributed to signers manually, and signatures collected through external channels like email. This creates a "last mile" problem: if the coordinator fails or loses signatures, the entire signing process can be disrupted.
The proposed feature would introduce a native TransactionProposal object stored directly on the XRP Ledger. Each signature would be validated in real time and added to the proposal's on-chain record. Once all approvals are gathered, anyone can copy the completed transaction and submit it through the standard XRPL transaction process, with no additional assembly required.
This upgrade is specifically designed to cater to institutional and enterprise users, complementing other advanced XRPL features such as batch transactions (XLS-56), sponsored fees, and future lending protocols. The change would need to pass the XRPL amendment voting process by validators to be adopted.
