The XRP Ledger (XRPL) has achieved a significant milestone by surpassing 87 million ledgers, solidifying its position as a dominant force in digital transaction management. Ripple’s XRPL has demonstrated strong growth with over 5 million accounts and a staggering 60 billion XRP held, showcasing its ability to handle and protect extensive digital assets.
According to recent updates from Binance and XRP Ledger services, the XRPL has reached an impressive milestone of 87,012,561 ledgers. This achievement highlights the efficiency and dominance of the ledger in managing digital transactions. Additionally, the number of accounts on the XRPL has surpassed five million, with a total of 5,143,547 accounts holding a combined 60,379,116,279 XRP.
A recent CNF YouTube video has further emphasized the XRPL’s breakthrough, underscoring its strong presence in the blockchain industry. The substantial growth in XRPL accounts and its significant XRP holdings showcase the robust capability of the ledger in handling and safeguarding a large volume of digital assets. The ongoing development and planned upgrades of XRPL demonstrate its commitment to remaining competitive and adaptable in the evolving digital economy, solidifying its role as a key driver of sector expansion.
Furthermore, XRPL has made significant 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, demonstrating 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, showcasing 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 outlined a strategic approach to address a bug discovered during extended integration testing of the AMM. This bug had 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 proposed a modification to ensure smooth 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 was 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, experiencing a decrease of 1.83% and a weekly change of 7.33%, as depicted in the price chart below.
