- XRP Ledger Executes Two Major Updates
- Impact on Ripple's Stablecoin RLUSD
- Future of Ripple and XRP Ecosystem
The XRP Ledger (XRPL) has announced two significant updates following a recent modification. These developments have attracted attention, particularly due to rising expectations surrounding the potential launch of Ripple’s stablecoin, RLUSD. Consequently, there is curiosity about how these updates will impact the stablecoin’s functionality and the overall ecosystem.
XRP Ledger Executes Two Major Updates
According to an XRPScan report, the XRP Ledger implemented two important updates named “fixEmptyDID” and “fixPreviousTxnID” last Friday. Both updates received support from 31 validators, surpassing the 28/35 threshold. The first update aims to prevent the creation of empty DID ledger entries that previously occupied unnecessary space. With this change, any transaction attempting to create such entries will result in an error. This endeavor is expected to enhance ledger efficiency without interfering with existing processes.
Impact on Ripple's Stablecoin RLUSD
Ripple has begun beta testing its stablecoin on both the XRPL and Ethereum networks. Recently, Ripple released two batches of the RLUSD stablecoin, each containing 485 RLUSD. These developments have intensified speculation regarding how the recent updates on XRPL will influence the operation of the stablecoin. Ripple President Monica Long confirmed that RLUSD would be launched this year if it receives U.S. approval. Long expressed expectations that the stablecoin would serve broader areas compared to Ripple’s native cryptocurrency, XRP. She also noted that decentralized exchanges (DEX) on the XRPL could benefit from the stablecoin’s efficiency, while XRP would be utilized for smaller cryptocurrency transactions.
Future of Ripple and XRP Ecosystem
In a period marked by continuous advancements in blockchain technology, such technical updates within the XRP Ledger may contribute to strengthening the Ripple ecosystem and enhancing investor confidence.
Given the recent updates in XRP Ledger, improved functionality and flexibility can be expected, positively impacting the RLUSD stablecoin and the Ripple ecosystem overall.
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