Surpassing a remarkable 87 million ledgers, the XRP Ledger (XRPL) has solidified its position as a leader in digital transaction management. Ripple’s XRPL has achieved robust growth, boasting over 5 million accounts and holding more than 60 billion XRP, showcasing its ability to handle and safeguard extensive digital assets.
Recent updates from Binance and XRPL services have confirmed that the XRP Ledger has reached a significant milestone, currently standing at 87,012,561 ledgers. This achievement highlights the efficiency and dominance of the ledger in managing digital transactions. Furthermore, the number of accounts on the XRPL has surpassed five million, totaling 5,143,547, with a combined XRP holding of 60,379,116,279 within these accounts.
A CNF YouTube video further emphasizes this breakthrough, showcasing the XRPL’s strong presence in the blockchain industry. The substantial growth in XRPL accounts and its significant XRP holdings demonstrate its robust capability in handling and safeguarding a substantial volume of digital assets. The ongoing development and planned upgrades of XRPL highlight its commitment to remaining competitive and adaptable in the ever-evolving digital economy, solidifying its role as a key driver in the sector’s expansion.
Additionally, XRPL has made significant advancements in its feature set by successfully integrating the Automated Market Maker (AMM) amendment, XLS-30. This enhancement has increased on-chain liquidity and supported various decentralized finance (DeFi) initiatives. Despite encountering a bug in the AMM feature, the XRPL community efficiently addressed and resolved the issue, showcasing their dedication to maintaining network security and high-quality standards. In the realm of non-fungible tokens (NFTs), XRPL has also achieved remarkable success, with over 6 million NFTs created, highlighting its versatility and relevance in the dynamic digital asset market.
While XRPL’s AMM ambitions have faced challenges, Ripple has outlined a strategic approach to address a bug discovered during extended integration testing. This bug could potentially hinder the processing of multiple AMM transactions within a single ledger, particularly when trading fees fall below 0.01%. To mitigate this issue, Ripple proposed a modification to ensure smooth AMM transactions, even with low trading fees. This solution involves updating the identification of default fields in the ledger and AMM code by inner objects.
To minimize the risk associated with this bug, a new protocol has been suggested: transactions should be paused for 3-5 seconds after the creation of an AMM if the trading fee is less than 0.01%, except for the initial AMMVote in each ledger. This measure aims to maintain the accuracy of the AMM and the stability of the ledger, ensuring consistent functionality even in rare scenarios.
Currently, XRP is trading at $0.599, experiencing a decrease of 1.83% with a weekly change of 7.33%, as illustrated in the price chart below.
