The XRP Ledger (XRPL) has accomplished a significant feat by surpassing 87 million ledgers, solidifying its dominance in the management of digital transactions. Ripple’s XRPL has exhibited substantial growth with over 5 million accounts and a staggering 60 billion XRP held, showcasing its ability to handle and safeguard extensive digital assets.
Recent updates from Binance and XRP Ledger services have confirmed that the XRPL has reached an impressive milestone of surpassing 87 million ledgers. The current count stands at 87,012,561, highlighting the efficiency and dominance of the ledger in managing digital transactions. The number of accounts on the XRPL has also exceeded five million, totaling 5,143,547. These accounts hold a combined total of 60,379,116,279 XRP.
A CNF YouTube video has emphasized this breakthrough, underscoring the XRPL’s strong presence in the blockchain industry. The significant growth in XRPL accounts, coupled with its substantial XRP holdings, showcases the robust capability of the XRPL in handling and safeguarding a substantial volume of digital assets. The ongoing development and planned upgrades of the XRPL demonstrate its commitment to remaining competitive and adaptable to the evolving needs of the digital economy, solidifying its role as a key driver in the expansion of the sector.
Furthermore, the XRPL has made notable advancements in its feature set by successfully integrating the Automated Market Maker (AMM) amendment, XLS-30. This enhancement has increased on-chain liquidity and supported various decentralized finance (DeFi) initiatives. Despite encountering a bug in the AMM feature, the XRPL community efficiently addressed and resolved the issue, showcasing their dedication to maintaining network security and high quality. In the realm of non-fungible tokens (NFTs), XRPL’s venture has been equally impressive, with over 6 million NFTs minted, highlighting its versatility and relevance in the dynamic digital asset market.
It is important to acknowledge the challenges faced by Ripple’s AMM ambitions, as reported by CNF. Ripple has outlined a strategic approach to address a bug discovered during extended integration testing of the AMM. This bug has the potential to hinder the processing of multiple AMM transactions within a single ledger, particularly when trading fees fall below 0.01%. To resolve this issue, Ripple has proposed a modification to ensure seamless AMM transactions, even with low trading fees. This solution involves an update to enhance the identification of default fields in the ledger and AMM code by inner objects.
To mitigate the risk of this bug, a new protocol has been suggested: transactions should be paused for 3-5 seconds following the creation of an AMM if the trading fee is less than 0.01%, except for the initial AMMVote in each ledger. This measure aims to maintain the accuracy of the AMM and the stability of the ledger, ensuring consistent functionality even in rare scenarios.
Currently, XRP is trading at $0.599, representing a decrease of 1.83% and a weekly change of 7.33%, as depicted in the price chart below.
