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XRP Ledger Unveils Exciting Update: Details

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Sat, 25/11/2023 - 9:56
XRP Ledger Unveils Exciting Update: Details
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XRP Ledger is on pace for new enhancements, with the amendment "fixReducedOffersV1" now activated on the mainnet.

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XRP Ledger's amendment process only allows protocol changes after two weeks of more than 80% validator support, a requirement that has been fulfilled by this amendment.

The "fixReducedOffersV1" amendment, now active on XRP Ledger, is expected to enhance order book efficiency. This update improves the rounding of reduced offers, which benefits XRPL users.

"FixReducedOffersV1" adjusts rounding to prevent order books from being blocked by reduced offers, the exchange rate of which is altered by rounding the remaining amounts.

The exchange rate of a lowered offer is rounded with this amendment so that it is as good as or better than the original offer (from the taker's perspective). This enables the reduced offer to be devoured by offers matching the original, full quantities.

The "fixNFTokenRemint" amendment, which adds a new field, FirstNFTSequence, to prevent reminting, has received a majority and has entered a 14-day activation countdown period, as previously reported. If more than 80% validator support is obtained in two weeks, this amendment may be triggered on the mainnet as well.

Related
XRP Ledger Gets New Proposal, Here's What This Will Change

In the past week, XRP Ledger has received two new proposals: "XLS-49d: Multiple Signer Lists," which would enable support for multiple signer lists per account, and "0051 XLS-51d: NFToken Escrows," which proposes a minor change to accommodate NFT escrows. This is because XRP Ledger presently only enables escrows for a single type of token: XRP.

In a positive milestone, the number of NFTs minted on XRP Ledger has reached 4,693,294, according to Bithomp data.

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