• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

XRP Ledger to receive major updates thanks to new amendments

user avatar

by Giorgi Kostiuk

2 years ago


  1. Amendment Support
  2. Amendment Approval System
  3. New XRPL Specifications

  4. Recently, crucial amendments on the XRP Ledger have received the majority support of validators, which might lead to significant upgrades in the upcoming days.

    Amendment Support

    According to an XRPL dUNL validator known as Vet, two XRP Ledger amendments have recently gained majority support and are now in the two-week activation period. These amendments are fixPreviousTxnID and fixEmptyDID, which are critical before introducing the DID amendment.

    Another two XRP Ledger Amendments just gained majority at 29 Yes Votes and are now in the two-week activation period: fixPreviousTxnID and fixEmptyDID (important before DID amendment). Thanks to Michael Arrington and XrpGoat.Vet

    Amendment Approval System

    Amendments represent new features or other changes to transaction processing. The amendment system uses the consensus process to approve any changes affecting transaction processing on XRP Ledger. To be enabled, amendments must have at least 80% support from trusted validators for two weeks. If support falls below 80%, the amendment is temporarily rejected, and the two-week period begins anew. If an amendment achieves more than 80% support for two weeks, it passes and the change is permanent for all subsequent ledger versions. To disable a previously enacted amendment, a new amendment must be introduced.

    New XRPL Specifications

    Apart from the amendments that have entered the two-week activation period, Mayukha Vadari, a senior software engineer at RippleX, announced the addition of two new specifications to the XRP Ledger this week. In her tweet, Vadari stated she had published two new XRPL specs focused around permissioning and compliance. First, XLS-80d: Permissioned Domains, which is a building block feature aimed at making on-chain permissioning easier to handle, building on top of XLS-70d. Second, XLS-81d: Permissioned DEX — secure and regulated trading environments. Vadari believes these additions will help drive greater flexibility and safety on XRPL.

    Introducing new amendments and specifications to the XRP Ledger could lead to significant improvements in network security and flexibility, positively impacting the entire ecosystem.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

XRP Withdrawal Transactions Plummet to Record Lows

chest

XRP withdrawal transactions on Binance have plummeted from over 8,000 in mid-April to about 12 recently, indicating a potential shift in market behavior.

user avatarRajesh Kumar

Fold Holdings Introduces Innovative Bitcoin Bonus Program for Employees

chest

Fold Holdings, Inc has launched a Bitcoin Bonus Program that allows companies to pay recurring BTC bonuses to employees, starting with Steak n Shake.

user avatarLucas Weissmann

Global Interest in Crypto Derivatives Surges Amid Regulatory Changes

chest

Global interest in crypto derivatives is rising as Thailand's SEC proposes new rules, with Blockchain.com launching perpetual futures trading and Kraken's parent company acquiring Bitnomial.

user avatarFilippo Romano

Thailand's SEC Proposes Streamlined Licensing for Crypto Derivatives

chest

Thailand's SEC has proposed a new rule allowing digital asset companies to apply for derivatives licenses directly, streamlining the process.

user avatarEmily Carter

Sam Bankman-Fried Withdraws His Request for a New Trial

chest

Sam Bankman-Fried has officially withdrawn his request for a new trial, believing he would not receive a fair hearing.

user avatarTomas Novak

Polymarket Traders Cash In on Temperature Spikes in Paris

chest

Traders on Polymarket made significant profits from unusual temperature spikes reported by Météo France, leading to a police complaint.

user avatarKaterina Papadopoulou

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.