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The XRP Ledger (XRPL) is set to receive transformative upgrades via new amendments that represent new features or other changes to transaction processing.
The amendment system uses the consensus process to approve these changes, with validators voting on them. If an amendment achieves more than 80% support for two weeks, it passes, and the change applies permanently to all subsequent ledger versions.
In a recent tweet, Dr. Artur Kirjakulov, CEO and cofounder of XPMarket, detailed four key amendments currently under consideration for voting on. These include dynamic NFTs (dNFTs), which, according to Kirjakulov, require just one more validator vote to pass. Standard NFTs are immutable, and some use cases would benefit from the ability to update the referenced data object after the initial minting of an NFT. Dynamic non-fungible tokens (dNFTs) offer the flexibility required for these use cases.
MPTs (multi-purpose tokens) are next in voting weight. Multi-purpose tokens (MPTs) are a more compact and adaptable type of fungible token that allows users to take advantage of ready-to-use tokenization capabilities with just a few lines of code.
Kirjakulov feels the XChainBridge is still in play even though the initiative has been officially abandoned in favor of Axelar and that the XRPL community is still voting for it. He highlighted the need for a tool-rich environment, not less.
Fourth, the Credentials and Permissioned Domains amendment has seen opposition from some community members, including Kirjakulov. The XPmarket CEO calls it a wrong priority, stating that the XRPL needs more developer tools that help generate revenue.
XRP Ledger developments
In a May 5 announcement, RippleX stated that Deep Freeze (not for XRP, but for issued assets) is now live on the XRPL. The Deep Freeze amendment (XLS-77d) gives issuers a more powerful tool for freezing assets at the account level while maintaining decentralization and transparency.
In an April post, RippleX stated it was exploring ways to reduce network traffic, lower operational costs and support future growth on XRPL. Squelching is a promising technique that limits the number of peers who relay a validator's messages, resulting in significantly less redundant traffic. It aims to include this approach in the upcoming 2.5.0 release, anticipated for June.
The upcoming 2.5.0 release is also expected to significantly lower memory and bandwidth usage for node operators.
Dan Burgin
U.Today Editorial Team
