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XRP Ledger to Get Major Upgrade With Game-Changing Features

Thu, 09/07/2023 - 10:38
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Tomiwabold Olajide
RippleX announces significant step forward in bringing DeFi AMM to XRP mainnet
XRP Ledger to Get Major Upgrade With Game-Changing Features
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RippleX, the team charged with the development of the XRP Ledger, has announced that the XLS-30 AMM spec and the XLS-39 Clawback spec have been integrated into the latest rippled release, version 1.12.0.

The XLS-30 will introduce a native automated market maker to the XRPL, which will interface with the existing order book DEX to allow the trading of digital assets in automated liquidity pools and allow developers to reach a larger audience of DeFi stakeholders.

An automated market maker (AMM) is a protocol for the decentralized exchange (DEX) that uses an algorithm to price assets rather than an order book like traditional exchanges.

The Clawback feature, a new lightweight addition to the rippled 1.12.0 codebase, will be enabled by XLS-39. If implemented on the XRPL mainnet, Clawback will allow newly issued assets to be "clawed back" via a trustline.

To bring either feature to the XRPL mainnet, these XLS specs must go through an amendment process, which requires a large majority of the validator community to agree on a proposal. As part of the consensus process, each server on the network independently tallies the votes of the validators it is configured to listen to.

For an amendment to pass, at least 80% of validators must accept it by changing their vote to "yes," and this minimum level must be maintained for at least two weeks.

If both prerequisites are met, the amendment proposal will be approved, and a new XLS specification will be implemented on the mainnet. This procedure must be followed for each amendment.

XRP Ledger Unveils New Milestone for Cross-Chain Bridging Feature

RippleX engineers recently revealed an important milestone in the development of the XLS-38d cross-chain bridging primitive for XRP Ledger, as previously reported. Bishop Fox, a leading blockchain security consultancy, has conducted a thorough security audit of the XLS-38d cross-chain bridging protocol.

The Ripple engineering team embraced the pertinent information and is working on fixes to provide an effective update in the next rippled release.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.