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Home Crypto News Market Ripple Validators Voting To Upgrade XRP Ledger: Details

Ripple Validators Voting To Upgrade XRP Ledger: Details

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Ripple (XRP) Validators Upgraded Network To Support Increased NFTs Transaction Volumes.



Ripple is in the process of upgrading its servers to a new version 1.9.1. Validators are voting to activate the XLS-20 amendment that has been in the works for some time.

Back in May 2021, Ripple tabled the XLS-20 proposal for the amendment that is supposed to bring NFT support and enable developers to mint NFTs on the XRPL.

The amendment will also cater for provisions for people to co-own assets, automated royalties, and a few other functionalities. These features will not need smart contracts to run. The announcement was made in a tweet by the XRP Ledger Explorer.

 

Code Testing Completed

In an update, Ripple intimated that prior to the amendment being implemented, extensive code testing was undertaken to ascertain the stability, performance, and scalability of the NFT code.

This is to prevent anomalies that could occur when the transaction volumes increase. The XRPL can now handle an increased transaction volume when the on-ledger NFT support is activated. By the new amendment, it would be possible to mint, transfer, and burn NFTs on the XRP ledger.

The upgraded version 1.9.1 has improved memory management for better efficiency, targeted NFT object page allocation, and increased account signers from 8 to 32. At the time of this writing, voting is still ongoing on Ripple’s amendments registry.

The Voting Process

An amendment cannot be activated by one entity on the XRPL MainNet. Rather, it requires a majority of the nodes on the network to agree and keep the link alive for a while. Before the final results are outputted, the default vote display is set to NO.

Currently, as mentioned, there are 3 amendments proposed. If two of them attain 80% majority support on the network, the vote will have achieved a YES consensus, and server version 1.9.1 will be installed automatically.

All other servers who will still be running previous versions will be blocked and required to upgrade their software to match the new specifications.

Ripple is also developing in-house tools to boost network performance and scalability. The open-source project is named Clio. For now, Ripple has set up an NFT-Devnet to use by potential developers who want to test the capabilities of the XLS-20 NFT standard.

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Disclaimer

The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Albert
Albert Brownhttps://thecryptobasic.com/
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.

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