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COINTURK NEWS > Cryptocurrency News > XRP Ledger Implements Two Major Updates to Boost Ecosystem Functionality
Cryptocurrency NewsRipple (XRP)

XRP Ledger Implements Two Major Updates to Boost Ecosystem Functionality

In Brief

  • XRP Ledger announces two updates that enhance its functionality.

  • Ripple’s stablecoin RLUSD may benefit from these new updates.

  • Continued blockchain advancements support Ripple's ecosystem growth.

İlayda Peker
İlayda Peker 8 months ago
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The XRP Ledger (XRPL) has announced two significant updates following a recent modification. These developments have attracted attention, particularly due to rising expectations surrounding the potential launch of Ripple’s stablecoin, RLUSD. Consequently, there is curiosity about how these updates will impact the stablecoin’s functionality and the overall ecosystem.

Contents
XRP Ledger Executes Two Major UpdatesWill Ripple’s Stablecoin RLUSD Be Affected?

XRP Ledger Executes Two Major Updates

According to an XRPScan report, the XRP Ledger implemented two important updates named “fixEmptyDID” and “fixPreviousTxnID” last Friday. Both updates received support from 31 validators, surpassing the 28/35 threshold.

The first update aims to prevent the creation of empty DID ledger entries that previously occupied unnecessary space. With this change, any transaction attempting to create such entries will result in an error. This endeavor is expected to enhance ledger efficiency without interfering with existing processes.

Will Ripple’s Stablecoin RLUSD Be Affected?

Ripple $3 has begun beta testing its stablecoin on both the XRPL and Ethereum $2,468 networks. Recently, Ripple released two batches of the RLUSD stablecoin, each containing 485 RLUSD. These developments have intensified speculation regarding how the recent updates on XRPL will influence the operation of the stablecoin.

Ripple President Monica Long confirmed that RLUSD would be launched this year if it receives U.S. approval.

Long expressed expectations that the stablecoin would serve broader areas compared to Ripple’s native cryptocurrency, XRP. She also noted that decentralized exchanges (DEX) on the XRPL could benefit from the stablecoin’s efficiency, while XRP would be utilized for smaller cryptocurrency transactions. These statements suggest that the recent XRPL updates could empower both RLUSD and the XRP ecosystem, offering more functionality and flexibility across multiple applications.

In a period marked by continuous advancements in blockchain technology, such technical updates within the XRP Ledger may contribute to strengthening the Ripple ecosystem and enhancing investor confidence.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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İlayda Peker 28 September, 2024 - 1:38 pm 28 September, 2024 - 1:38 pm
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