Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
The XRP Ledger (XRPL) has made a significant announcement of a new amendment. The amendment under the code fixAMMv1_1 will go live on the XRPL later this month. In a post on X, the XRPScan explorer informed community members of the development.
Understanding XRPL amendment and its impact
An amendment in the XRPL context implies a proposal to change the existing code or protocol governing a specific function in the ledger. These amendments can help fix bugs, and improve or introduce new features.
Tomiwabold OlajideHowever, for the amendment to happen, validators must reach a consensus. That is, the fixAMMv1_1 amendment has to get the nod of most of the validators or nodes that maintain the network. As of the time of writing, 29 out of the 35 votes cast have voted yes to the amendment. This represents 82.86% of the consensus already.
If it scales through, the XRP community will expect a new update or fix to the Automated Market Maker (AMM) feature. When implemented, it will allow for decentralized trading directly on XRPL. This aims to improve liquidity and efficiency for traders on the blockchain.
Prior amendments and community sentiment
Notably, the amendment for fixAMMv1_1 has entered a 14-day activation window. If the 82.86% approval is sustained for two weeks, the amendment becomes active, and the changes to fixAMMv1_1 will be implemented on the network. The approval support threshold stands at 80%.
Gamza KhanzadaevAs reported by U.Today in April, XRPL performed a major update to the mainnet known as the "fixAMMOverflowOffer." The update was meant to fix the problem of large synthetic AMM offers being handled incorrectly in the payment engine. On that occasion, it reached 100% consensus from validators.
Some members of the community have lauded the amendment's already-in-activation period. At the time of writing, XRP traded up 1.48% to exchange hands for $0.5375, signaling bullish sentiment.
Gamza Khanzadaev
Vladislav Sopov
Dan Burgin