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HomeCrypto NewsMarketRipple CEO Says Minting NFTs On XRP Ledger (XRPL) Is An "Incredible...

Ripple CEO Says Minting NFTs On XRP Ledger (XRPL) Is An “Incredible Milestone”

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Garlinghouse is excited following the launch of NFT functionality on XRP Ledger.



Members of the Ripple community are enthusiastic following a report that native non-fungible token (NFT) functionality has been deployed on XRP Ledger (XRPL).  

In a recent tweet, Brad Garlinghouse, CEO at Ripple, joined other members of the XRP community to celebrate the achievement. Garlinghouse described the feat as “an incredible milestone” for the XRP Ledger community. The Ripple CEO also attached a gif of two men and a lady jumping in excitement. 

XRP Community Excited About the Development

Garlinhouse’s reaction to the development further shows how excited the Ripple community is, knowing that XRPL now supports non-fungible tokens. 

RippleX, Ripple’s development team, confirmed the news on Twitter, telling XRP holders to “treat themselves to NFTs on the XRP Ledger.”

Notably, the initiative will contribute immensely to the widespread adoption of XRP. 

XLS-20 Now Live on XRPL

Yesterday, David Schwartz, Ripple’s CTO, took to Twitter to announce that NFT functionality is now live on XRPL. He said: 

“Thanks to the collective effort of the XRPL community and RippleXDev engineers, XLS-20 is now enabled on the XRP Ledger Mainnet, and a few NFTs have already been minted.” 

According to Schwartz, NFTs on the Ripple blockchain are unique compared to digital collectibles hosted on other networks. Schwartz said the development team adopted a no-smart contract approach, thus making XRPL-based NFTs less vulnerable to security risks. 

Furthermore, the non-smart contract approach developers take will mitigate network congestion, thus making transactions faster and cheaper. The XLS-20 proposal offers automatic rewards to creators through an in-built decentralized exchange. 

XLS-20 amendment is a proposal that has received much attention since last year. The amendment was first proposed last year by Nik Bougalis, Ripple’s director of engineering. After deliberation and development, the Ripple team scheduled the proposal to go live in September 2022.

However, things did not go as planned after a critical bug was discovered before the initial scheduled launch date. The team pushed the date to fix all pending issues associated with XLS-20 before the proposal was finally rolled out yesterday.

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Lele Jima
Lele Jima
Lele Jima is a cryptocurrency enthusiast and journalist who is focused on educating people about how the nascent asset class is transforming the world. Aside from cryptocurrency-related activities, Jima is a lover of sports and music.

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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