The XRP Ledger (XRPL) has introduced two significant upgrades following a recent amendment, drawing the attention of investors. This development coincides with the heightened anticipation surrounding the potential launch of Ripple stablecoin RLUSD. As Ripple continues to enhance the XRPL, speculation grows on how these upgrades will influence the stablecoin’s functionality and the broader ecosystem.
Revealed in a report by XRPScan, the XRPL implemented the “fixEmptyDID” and “fixPreviousTxnID” upgrades, attracting market interest. The former aims to prevent the creation of empty DID ledger entries, optimizing ledger efficiency without disrupting the process. The latter upgrade enhances transaction tracking by incorporating PreviousTxnID and PreviousTxnLgrSequence fields, aiding in tracing ledger modifications’ history.
These improvements optimize XRPL operations and enhance the blockchain’s data management capabilities, facilitating the development of more sophisticated applications in the future.
Ripple has initiated beta-testing of its stablecoin RLUSD on both XRPL and Ethereum networks, issuing two batches of the stablecoin recently. The focus now shifts to how the latest XRPL upgrades may impact the stablecoin’s functionality. Ripple President Monica Long has confirmed that RLUSD’s launch is planned for this year pending US approval, with expectations of serving a wider range of applications compared to XRP.
Long also mentioned the potential benefits for decentralized exchanges (DEXs) on XRPL from RLUSD’s efficiency, while XRP would continue to be utilized for smaller crypto transactions. These statements hint at the possibility of the recent XRPL updates strengthening the ecosystem for both RLUSD and XRP, offering enhanced functionality and flexibility for various applications.