Ripple’s XRPL solution readies for significant upgrade

Ripple’s XRP Ledger (XRPL) is rolling out an upgrade as part of a two-week activation countdown, with backing from over 80% of validators.

The amendment aims to reduce obscured order books, improving XRPL’s overall functionality.

XRPL introduces fixReducedOffersV1

XRPL is gearing up for new features, and users on the Ripple v1.11.0 or earlier versions are urged to update their software, particularly for the critical fixReducedOffersV1 addressing DEX issues. For the upgrade to get executed, an 80% consensus must be reached within a 14-day period.

According to the XRPL v1.12.0 update, fixReducedOffersV1 upgrade’s goal is to reduce obscured order books caused by reduced offers, thereby improving the overall functionality of the XRPL.

This amendment also allows protocol changes with 80% validator support within two weeks, prompting users to upgrade for continued engagement. From the taker’s standpoint, fixReducedOffersV1 can enhance exchange rates on DEXs, making reduced offers more appealing.

Without these amendments, reduced offers may have unfavorable rates, hindering decentralized brokerage platforms on XRPL. 

In September, XRPL rolled out version 1.12.0, featuring significant additions like fixReducedOffersV1. This update not only addressed bugs but also made amendments to the Automated Market Maker (AMM) and Clawback functions. Users were urged to update by Sept. 20 to ensure a smooth experience and participate in the voting process for new amendments like XLS-30.

The XRPL version 1.12.0 is a substantial milestone in the evolution of the XRP Ledger. With key features, amendments, and security enhancements, it solidifies its standing as a prominent decentralized public blockchain.

The XRPL has seen substantial improvements both internally and externally, fostering a positive outlook. The successful security audit of the Xahau sidechain further enhances XRPL’s prospects.

The XRPL EVM sidechain update

At the recently concluded Apex 2023 conference, discussions centered around the EVM sidechain update for XRPL, signaling ongoing developments and enhancements within the XRPL ecosystem.

The XRP Ledger Foundation shared updates, providing insights into the progress and future direction of XRPL, notably the EVM sidechain update. 

Discussions delved into the development phases of this sidechain, highlighting phase two, which introduces a permissionless EVM sidechain and bridge with a unique design for developers seeking cross-chain interoperability. 

The XRPL community, actively engaged in the conversations, demonstrated a keen interest in testing the EVM sidechain on the XRPL Devnet, emphasizing the collaborative and innovative nature of the XRPL ecosystem.

Follow Us on Google News