- Rippled v2.0.0, set for release on November 13, 2023, will bring significant changes to the XRP Ledger, including a major API overhaul and improved transactions per second (TPS) performance.
- The update introduces four new amendments, including the XChainBridge for enhanced asset interoperability across ledgers, and a new RPC method for more efficient data connectivity.
The XRP Ledger is poised for a major technological shift with the upcoming release of rippled server software version 2.0.0. Analyst Krippenreiter from the community has provided a detailed analysis of this significant update, which brings a host of enhancements to the XRP Ledger.
Major Overhaul with Rippled V2.0
Rippled v2.0.0 marks a substantial development in the evolution of the XRP Ledger. A key aspect of this upgrade is the introduction of a new API version, which constitutes a
“major breaking change.”
This change is set to redefine the operational framework of the ledger, particularly in how requests and responses are processed.
Additionally, the upgrade aims to improve the TPS performance of the ledger. Notably, Ripple recently updated its website to indicate that the ledger can now handle 3,400 transactions per second, a significant increase from the previous 1,500 TPS.
Introducing New Amendments and Functionalities
The update includes four critical amendments:
- XChainBridge: This amendment, initially presented as ‘federated sidechains,’ has been revised by Mayukha Vadari to enable bidirectional connection of assets across XRPL-like ledgers using witness servers.
- Decentralized Self-Sovereign Identity: This amendment aligns with W3C guidelines, enhancing the trustline settings and identity aspects within the ledger.
- Adjustments to Trustline Settings and Offer Crossing Behavior: These refinements, including the ‘fixDisallowIncomingV1’ and ‘fixFillOrKill,’ aim to optimize the ledger’s transactional functionalities.
Additionally, a new RPC method developed by Mayukha Vadari and Richard from XRPL Labs has been introduced, facilitating easier data access within the ecosystem.
Enhancements and Governance Model
The rippled v2.0.0 update also encompasses various bug fixes and refactoring efforts, enhancing the ledger’s efficiency and readability. The governance model of the XRP Ledger, involving a consensus process among validators, plays a crucial role in the adoption of these updates. For an amendment to be accepted, it requires over 80% support from validators over a two-week period, ensuring a democratic and consensus-driven approach to ledger updates.
The Implications of Rippled V2.0
The release of rippled v2.0.0 is a significant milestone for the XRP Ledger, introducing a range of enhancements that pave the way for an ecosystem linked by sidechains, forks, and bridges. This update is expected to bring a new wave of performance enhancements, elevating the capabilities and efficiency of the XRP Ledger.
In conclusion, the rippled v2.0.0 update represents a major step forward in the XRP Ledger’s journey, bringing it closer to achieving a highly interconnected and performance-optimized ecosystem. As the ledger continues to evolve, these updates are crucial in maintaining its relevance and efficiency in the ever-evolving world of blockchain technology.
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