As a seasoned researcher with a penchant for all things blockchain and cryptocurrency, I find myself constantly intrigued by the dynamic nature of the XRP Ledger. The recent announcement of upcoming updates to the XRPL, as outlined by Vet, has once again piqued my interest.
As a crypto investor, I’m excited about the upcoming enhancements for the XRP Ledger. These updates are expected to introduce innovative features and boost performance, further solidifying XRP’s position as a key player in the ever-evolving cryptocurrency market.
In a recent tweet, Vet, xrpcafe cofounder and XRPL dUNL validator outlines upcoming amendments for XRP Ledger, set to be shipped in the upcoming rippled (XRP ledger server) version 2.3.0 -rc2.
All upcoming #XRP Ledger amendments!
🔹 Multi Purpose Tokens (MPT) – new token standard for RWA tokenization
🔹 AMMClawback – allowing tokens w/ clawback like #RLUSD to be used in the AMM
🔹 Credentials – extends the deposit authorization feature / compliance first amendment…
— Vet (@Vet_X0) November 14, 2024
The primary server, named ‘rippled‘, manages the decentralized network, handling transactions and reaching agreement on their results through consensus.
As per a screenshot posted by Vet, the pre-release version 2.3.0 -rc2 is expected to incorporate multiple updates including FixReducedoffersV2, NFT Mint Offer, FixEnforceNFTokenTrustline, FixInnerobjTemplate2, fixes for NFTokenPageLinks, Credentials, MPTokensV1, AMM Clawback, and improvements in AMMv1-2.
Vet highlights a few of these amendments, including Multi Purpose Tokens (MPT), a new token standard for RWA tokenization. The AMMClawback feature enables the use of tokens like the upcoming Ripple Stablecoin RLUSD in the AMM.
The credentials will expand the capability for deposit authorization and compliance with the First Amendment, while the NFTokenMintOffer simplifies the process of creating NFTs by combining minting and offering into a single step.
Besides crucial modifications and additional improvements, Vet indicates that the list of changes for XRPL is quite extensive.
XRPL recent developments
In simpler terms, the latest iteration of Rippled (the XRP Ledger’s reference server implementation) came out last month – version 2.2.3. This update did not introduce any new changes but rather fixed a problem that led full-history servers to run out of space in their SQLite databases.
The activation of price oracles on the XRPL signifies a significant advancement, enhancing its built-in features and facilitating the growth of high-level DeFi applications. Now, developers have the opportunity to work with integration partnerships such as Band Protocol and DIA.
As an analyst, I’m thrilled to share that we’ve proposed three novel specifications for Decentralized Identifiers (DIDs) on the XRPL platform, shifting control from centralized entities to users over their digital identities. These new proposals are:
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2024-11-14 19:12