Wednesday, November 30, 2022
HomeCrypto NewsMarketNFTs On XRP Ledger (XRPL) Delayed As New Bug Comes To Light

NFTs On XRP Ledger (XRPL) Delayed As New Bug Comes To Light

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Key stakeholders suspend votes on the XLS-20 proposal as a new bug is revealed.


The launch of NFTs on the XRPL has hit a snag, as xTokenize announced in a tweet earlier today that they found a bug that could max out a minters XRP reserve.

 

“NFTs Utilizing Flag 12/13 on NFTokenMint Tx’s with a Transfer Fee >0 are susceptible to spam trust lines and an increase in their reserve requirement while also allowing a currency issuer to create infinite currencies for no cost or reserve requirement,” xTokenize wrote in the Github documentation.

At first, developers believed that such an attack would be too expensive to pull off. However, after rigorous testing, evidence shows that the attack will cost nothing but transaction fees.

In response, Alloy Networks, an XRPL validator, has said it will veto the XLS-20 amendment proposal until the bug is fixed. Additionally, XRPL lead developer WietseWind said he would remove the XRPL Labs support until the issue is addressed.

The development is a blow to XRP users, who expected the XLS-20 proposal to be implemented soon as validator voting had kicked off. However, analysis from Combat Kanga shows that the delay will take a month in the best case and two and half months in the worst case. According to Combat Kanga, while the bug fix is simple, it will take a lot of time for validators to complete tests before resuming voting.

 

It bears mentioning that Ripple engineer Nik Bougalis first published XLS-20 in 2021 to activate native NFT functionality. In January this year, the network launched a development network for NFT research. Notably, in July, as reported by The Crypto Basic, Ripple developers expressed confidence in supporting the proposal after test completion. Then in August, XRPL Labs voted in favor of the proposal.

Despite the news of the latest delay, XRP faithful will be pleased to know that NFT projects remain committed to launching on the network. XWhales, a project which plans to launch 11,110 unique whale NFTs on the blockchain, in response to the news, said it remains ready to launch once the proposal is implemented.

 

 

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Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

Disclaimer: The content is for informational purposes only, 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.

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