The XRP Ledger (XRPL) recently unveiled two significant updates following a recent amendment, attracting investor attention. This development coincides with growing anticipation surrounding the potential launch of the Ripple stablecoin RLUSD. The ongoing improvements on the XRPL by Ripple are sparking speculation about how these upgrades could influence the stablecoin’s operation and the broader ecosystem.
The XRPL introduced two key upgrades, “fixEmptyDID” and “fixPreviousTxnID,” garnering market interest after being supported by 31 validators, surpassing the implementation threshold. The “fixEmptyDID” upgrade aims to prevent the creation of empty DID ledger entries, enhancing operating efficiency without disrupting existing processes. Meanwhile, the “fixPreviousTxnID” enhancement focuses on improving transaction tracking by adding essential fields for tracing ledger modifications.
These upgrades not only streamline XRPL operations but also enhance its capability to manage data efficiently, laying the groundwork for more intricate applications in the future. Ripple has commenced beta-testing RLUSD on XRPL and Ethereum networks, issuing batches of the stablecoin. As the focus shifts to how the recent XRPL updates will affect RLUSD, Ripple President Monica Long has confirmed the stablecoin’s upcoming launch, pending US approval.
Long highlighted RLUSD’s potential to expand its utility compared to XRP, catering to a broader audience. She also mentioned the benefits for decentralized exchanges on XRPL and how XRP will continue to serve smaller crypto transactions. These developments suggest that the recent XRPL upgrades may bolster the ecosystem for both RLUSD and XRP, offering enhanced functionality and versatility across various applications.