Ripple validators vote for new XRP Ledger update

Revolutionary change in SEC's approach: XRP deemed worthless - The right way to go?

A very important update is coming to the Ripple network. The future of NFT on the popular blockchain has been put in the hands of validators. Here’s how they decided.

Testing is underway

According to Ripple representatives, extensive testing is currently underway to launch the NFT functionality. To develop it, earlier this year, a $250 million fund was announced to support the developers. 

Decisions on the further development of the network were entrusted to the validators. Thus, in recent days they voted to activate the XLS-20 patch in the XRP Ledger (XRPL). This gave the green light for further NFT implementation work. The next step is expected to be an upgrade of Ripple’s servers, which will provide developers with access to NFT’s knockout, trade, and burn functions.

Satisfactory results

Meanwhile, there is some very optimistic news on the Ripple developers’ blog. The tests conducted so far reveal that the NFT code on the network seems to be stable, scalable and efficient enough to fully satisfy the expected trading volume. The developers have thus acknowledged that XRP Ledger will be able to comfortably and securely handle additional workloads.

However, these are not the final results, but just a preliminary assessment of the situation. As one of the official announcements reports, the way is open for experimentation from now on:

“For anyone interested in experimenting with XLS-20 and exploring the NFT capabilities it introduces, Ripple is launching the NFT-Devnet. Everyone is welcome to use the NFT-Devnet to demonstrate the performance characteristics and implications of the proposed XLS-20 standard, without compromising the performance of the XRPL Mainnet.”

Schwartz remains cautious

Ripple’s chief technical officer, David Schwartz is taking a somewhat cooler stance on the current situation. He is known for his reluctance to change the XRP network. Asked even before the vote for his opinion, he replied:

“I’m leaning towards yes, but if I were to run a validator, I wouldn’t vote yes yet. I would at least wait until other validators have updated to 1.9.1 and reported no issues, and I would wait long enough for anyone with concerns to report them.”

Schwartz further explained that a positive vote, does not yet determine the future of NFT on the Ripple network. The XLS-20 amendment will not be implemented for a minimum of another two weeks. Furthermore, it will still be available for rejection if concerns arise from issues during testing. 

Disclaimer: Blockbulletin does not take accountability of investments based on the information of the website. We highly advice readers to make extensive research prior to any invest

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