XRP Ledger has officially activated three significant updates, marking a key milestone in its evolution. Following a successful 14-day countdown period with 80% majority support, these updates are now live, improving the performance and security of the network.
Major System Upgrades Strengthen the XRP Network
One of the major updates improves the Automated Market Maker (AMM) system. It combines strict checks to ensure that AMMs operate correctly and provides rounding of deposits and withdrawals to maintain the correct balance. This change enhances the stability and reliability of the AMM, reducing user risks.
A further update pertains to the NFT system, fixing an issue where NFT issuers might receive fungible tokens as transfer fees. The new rules ensure that NFT issuers are charged such fees only when their trustlines are properly authorized. Furthermore, the amendment also prevents fees on frozen trustlines, enhancing the security and integrity of NFT transactions.
The third amendment addresses payment channels. Previously, users could create payment channels with 'CancelAfter times' set in the past, leading to their automatic removal. The new update ensures that only valid payment channels are created with actual 'CancelAfter times,' eliminating disruptions and improving the overall stability of the payment system.
RippleX Streamlines XRP Ledger Standards
RippleX is also working on simplifying the XRP Ledger's standardization process. A new proposal will clarify the life cycle of XRP Ledger Standards (XLS), making it easier for the community to adopt and implement new features.
This move will streamline the standardization process and strengthen the XRP ecosystem. These amendments are a significant step in the continuous improvement of XRP Ledger, ensuring a more secure and efficient network for its users.
Impact of Updates on Users
The importance of these updates lies in their role in ensuring the stable operation of the XRP ecosystem. By providing reliable functionality for key network features, the updates help mitigate risks and enhance security. Users can now have greater confidence in the protection of their assets and transactions on the platform.
The activated updates to XRP Ledger represent a significant advancement in the network's development, enhancing its functionalities and security, which is crucial for users and the entire XRP ecosystem.
