XRP Ledger: Major Upgrade Goes Live Onchain

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XRP Ledger: Major Upgrade Goes Live Onchain

The XRP Ledger is always evolving, with new upgrades coming onchain to improve the utility of XRP and drive improved pricing, generating value for every holder.

XRP Ledger (XRPL) has introduced native programmability to its chain, and this integration is billed to bring significant transformation. Prominent business leader and financial strategist Jake Claver perceives this new development as crucial to enhancing XRPL’s flexibility and functionality.

XRP Ledger Benefits From Native Programmability 

The capacity of a network to maintain security, compliance, and scalability is core for institutional adoption. 

Introducing native programmability while enabling permissionless development brings these and much more to XRPL. It is worth noting that XRPL differs from other blockchains that prioritize programmability from inception.

It leverages a more structured approach that optimizes specific use cases. The existing framework will serve as a backbone for this new feature. Apart from enhancing the existing framework, this will make it easier for developers to build custom solutions for institutions without compromising efficiency. 

Before now, XRPL has gained recognition for its capacity to provide outstanding financial infrastructure. These solutions are reinforced with built-in tools like Decentralized Exchange (DEX), escrow mechanisms, and tokenization features. 

These go a long way in integrating Traditional Finance (TradFi) and blockchain technology. 

This is the first time XRPL presents a native way to introduce custom logic directly within its existing features.

Core Amendments on XRP Ledger 

Significantly, this marks another milestone for the broader XRP ecosystem. About a month ago, the XRP Ledger welcomed the AMMClawback amendment on its mainnet. 

This particular amendment received 91.43% consensus from validators before it moved forward. The AMMClawback feature allows XRPL users to recall their transactions even after initiating them. 

The XRPL AMMClawback’s usefulness is quite obvious when an issuer realizes that the recipient of the tokens in a transaction is connected to illicit activities.

Another amendment implemented on the XRPL mainnet is the fixAMMv1_1 amendment, which went live last year. This amendment ended up with 32 yes votes in support and 3 nays against it. It demonstrates that the core focus of XRPL’s Automated Market Maker (AMM) is hinged on fixing bugs or enhancing existing functionality within its system.


Disclaimer: The information provided in this article is for informational purposes only. It does not constitute investment, financial, trading, or any other sort of advice. You should not treat any of BGECrypto’s content as such. BGEcrypto does not recommend that any cryptocurrency should be bought, sold, or held by you. Do your due diligence and consult your financial advisor before making any investment decisions.

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