On the XRP Ledger (XRPL), the mainnet now features a fresh amendment called “fixNFTokenReserve.” This is an important advancement for the decentralized blockchain.
fixNFTokenReserve Scales Through
At approximately 12:21 UTC on April 12, XRPScan, the leading XRPL explorer, reported that the activation of the fixNFTokenReserve amendment occurred. This update was incorporated in version 2.1.0. Much like other proposals in the XRP Ledger, this one needed a yes-vote from at least 28 validators to be approved.
Following the voting process, the fixNFTokenReserve proposal garnered 29 affirmative votes and just 6 negative votes, qualifying it for acceptance.
Based on XRPScan’s information, this amendment includes a verification process for the transactor of the NFTokenAcceptOffer function. Specifically, it checks if the change in OwnerCount triggers an update. If so, an extra check is conducted to ensure that the reserve requirement is satisfied with the new owner count.
Significantly, the proposed change to the fixNFTokenReserve function is just one of several amendments slated for implementation on the XRPL mainnet in the upcoming weeks. Other amendments are anticipated to undergo a voting process during this period.
Dynamic XRP Ledger Amendment Features
After an earlier modification, the fixAMMOverflowOffer was introduced on the mainnet in late Q1, 2024. XRPL announced this upcoming change to the AMM engine towards the end of the first quarter that year.
This amendment is considered significant for the XRP Ledger as it addresses the issue of mishandled large automated market maker (AMM) bids in the payment system.
The approval of the amendment proposal faced several obstacles. According to Coingape’s records, the proposal had 20 Yes votes and 15 Nos at first, which was insufficient for reaching a consensus. Additionally, many supporters withdrew their votes, leading to the restart of the 14-day voting period. The entire process had to be repeated.
When Coingape announced the latest update, it didn’t seem promising at first. But surprisingly, at the eleventh hour, the fixAMMOverflowOffer managed to make it through and is now operational on the mainnet.
The quick response of the team in implementing the fixNFTokenReserve highlights the flexibility of the blockchain system, and there’s excitement for potential future advancements.
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2024-04-12 17:51