The average number of transactions per ledger ranges from 35 to 65.
The XRP Ledger (XRPL) has garnered mass adoption since its launch in June 2012. Almost 11 years later, the blockchain has processed over 79 million ledgers. The chain crossed the 79 millionth ledger threshold earlier today.
XRP Scan, a leading blockchain explorer for the XRP Ledger, called public attention to the impressive feat in a tweet today, noting that the blockchain is currently on track to hit its 80 millionth ledger.
XRP ledger quietly clocked 79 million ledgers a few hours ago. On to 80 millionth ledger: https://t.co/zDgeMZsPNw pic.twitter.com/181QPQCsNh
— XRPScan (@xrpscan) April 10, 2023
On XRPL, a ledger is a digital record of transactions that have taken place on the network. It contains information about the current state of the ledger, including transaction history and other important data. Each ledger on the XRPL is identified by a unique sequence number and is updated every few seconds to reflect the latest transactions on the network.
One of the key features of XRPL is its ability to settle transactions in near real-time, with each ledger being updated every 3-5 seconds. This makes it an ideal platform for fast and efficient payments and settlements, particularly in cross-border transactions. Notably, the 79 millionth ledger contained 37 transactions, including payments and transactions related to ticket creation.
As of press time, XRPL currently boasts over 79,010,300 (79.01 million) ledgers, with extra ledgers added every few seconds. The average number of transactions per ledger ranges from 35 to 65, underscoring the massive amount of transactions processed by the XRP Ledger daily.
XRPL Adoption Surges Despite SEC Case
This is a testament to the impressive adoption rate the network has garnered as investors and businesses look to leverage it for fast and cost-effective transactions. Last month, Messari, a crypto market intelligence platform, highlighted a rapid surge in XRPL accounts that has persisted since February 2021.
Messari noted that accounts on the blockchain were close to hitting the 5 million mark amid a massive and persistent increase despite the external pressure from the U.S. SEC in the legal case with Ripple.
1/ Despite the external pressure being applied by U.S. regulatory authorities, the $XRP Ledger (XRPL), supported by @Ripple, aims to provide a digital payment infra not just for individuals, but also for existing financial entities such as central banks.
XRPL Overview👇🧵 pic.twitter.com/Cv08YK2HrO
— Messari (@MessariCrypto) March 21, 2023
There has been an emergence of payment solutions looking to take advantage of XRPL for real-time transactions, further bolstering its adoption. One such solution is DalliPay which allows small businesses to send and receive payments using XRPL.
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