The XRP Ledger update to version 2.5.0 includes numerous enhancements, increasing its competitiveness against other blockchains.
Updates and Bug Fixes
Update 2.5.0 introduces support for batch transactions, allowing multiple requests to be processed together, thereby enhancing efficiency. Additionally, escrow support for RLUSD and other crypto assets has been added, enabling automated and secure payouts. Implementation of permissioned decentralized exchange controls aids developers in meeting regulatory requirements.
New Features and Improvements
The update improves network performance and reliability, allowing for the handling of more transactions simultaneously. The addition of XRPL Commons as a trusted bootstrap cluster enhances network connectivity. Fixes related to conflicting signing methods improve the reliability of processing transactions from accounts using multiple signers. Other changes include better memory usage, reduced duplicate network traffic, and updated developer tools.
Increase in Activity on XRP Ledger
Leading up to the update, daily addresses on the XRP Ledger surged sevenfold from 40,000 to 295,000. Additionally, the number of whale wallets reached a record of 2,708, the highest in the network's 12-year history. This growth occurs amidst declining activity on other blockchains, highlighting XRP's successful update.
The XRP Ledger version 2.5.0 update demonstrates the network's commitment to enhancing its services and competitiveness in the rapidly evolving blockchain landscape.
