HOME CATEGORIES WRITE AND EARN 🔍
CATEGORIES WRITE AND EARN MORE

CRYPTO NEWS

Your favorite crypto news blog

Ripple CTO Reveals Upcoming XRP Ledger Upgrade Will Totally Change The Game

Altcoins 2020/11/05 15:30 by Nick James
Ripple Unveils New XRP-Based Loan Product To Finance Instant Cross-Border Payments

Ripple has always been at work to keep upgrading its network and supporting various other innovations. The XRP Ledger has been primed as the sole backbone of its network that supports global payments. It’s also the network on which XRP runs.

According to Ripple’s CTO (Chief Technology Officer) David Schwartz, Ripple is working to upgrade the XRPL to plug the gap created by offline or malfunctioning validators. Validators can go offline due to malfunction, hardware maintenance, attacks, connections, or even natural disasters.

Offline validators are ignored in the network operations and are added to the Negative UNL (Negative Unique Node List). The new XRPL upgrade is meant to account for these validators.

“Easier To Say Yes”

When the system chooses a validator, it considers a number of factors including institutional commitment, commitment to the network, jurisdiction, network redundancy, among others. The new upgrade will make sure this criterion is followed to avoid allocating network resources to offline validators. 

In a tweet, David acknowledged the importance of the new Negative UNL feature, saying that it will be a real game-changer for the network. With this upgrade, it will be easier for the other less prominent validators to get slots in the system when the Negative UNL is created since the system will disregard the offline validator and opt to work with the online validators. This way, even the validators running on stand-alone servers of computers will have a chance to contribute to the running of the network. 

Testing Phase

At the moment, the upgrade hasn’t been officially been adopted as it’s still in its testing phase. It is currently running on testnets to ensure it is fully functional before it is deployed as an upgrade to the system. 

According to the Ripple CTO, the new upgrade that accommodates even the smallest validator will be key to fostering further decentralization of the network.

0 Like(s)



You should also read...

Other 17/12/19 08:50 by Bitcoin PR Buzz
The DAOBet iGaming Solution Mainnet is Now Live!
Gaming company DAOGroup has announced that the long-awaited DAOBet mainnet has been launched by validators. 16th December 2019 – DAOBet (ex DAO.Casino) is a blockchain for the iGaming 3.0 industry,...
Read More
Altcoins 09/03/20 18:16 by Brenda Ngari
XRP Suffers Setback After One Of Its Most Fervent Pushers Cashes Out
As the global markets continue to suffer whiplash, cryptocurrencies have not been left behind. The flagship cryptocurrency has dived to one-month lows at $7,600. Ripple’s XRP, on the other hand, pl...
Read More
Altcoins 20/04/20 20:56 by Edwin Kinoti
Ethereum 2.0 game-changer, testnet nears 20,000 validators in two days
The Ethereum testnet got a resounding welcome after netting close to 20,000 validators within just two days of its launch on April 18. The number of validators surged soon after the genesis block was...
Read More
Altcoins 04/12/20 22:03 by Brenda Ngari
Community Could Force Ripple To Burn Its Huge XRP Stash, CTO David Schwartz Confirms
The chief technology officer (CTO) at Ripple, David Schwartz, has indicated that the community could force the San Francisco-based blockchain payments firm to burn its entire XRP cache. Ripple cur...
Read More
Altcoins 07/07/21 19:00 by Best Owie
Swiss Bank Sygnum Launches Ethereum 2.0 Staking
Sygnum, a Swiss-based bank, has recently revealed that it will begin offering customers access to Ethereum 2.0 staking through its banking platform. This would make the bank the first bank to offer ET...
Read More