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Ripple CTO Announces Successful Optimization Trials on XRP Ledger

Jamie West by Jamie West
December 18, 2020
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Ripple CTO David Schwartz recently shared the amazing statistics of their newly built XRP Ledger software. As made public on December 17, these statistics were acquired by Schwartz after merging different performance proposals by several software engineers. And the resulting product is very impressive. Schwartz even referred to the initials tests, after the implemented upgrade, as “incredibly encouraging.”

The recently performed test in the more optimum version of the XRP Ledger was done by shutting down the server and restarting it after a minute of waiting. As stated by Ripple’s CTO that this method is to replicate the process of restarting to upgrade similar operations and codes. The test measured three metrics: data processing, memory consumption, and the time the task was performed.

Via the Ripple CTO’s Twitter account, Schwartz stated that the XRP Ledger software’s current version is version 1.7.0-b5. This version has an average synchronization speed that clocks at 82 seconds. The software also occupies 5.2 Gigabytes of memory and can reach a total of 73,000 nodes per second.

In comparison, the newly optimized version that the Ripple CTO is currently testing has a synchronization speed of 37 seconds, occupies 2.2 GB, and can reach up to 327,000 nodes each second on the computer where Schwartz conducted the test. This improvement represents a major optimization upgrade close to 50% on almost every metric that they measured after the said upgrade.

The XRP Ledger GitHub page already has this published under the XRP Ledger optimization branch. The Ripple CTO also acknowledged and welcomed the contribution of the community and said that an audit would be needed to confirm the results of the test. He also doesn’t recommend using the optimized version on “real money machines” yet.

On another note, ScandiNodes, the Flare Network’s Scandinavian delegation service, has also announced that since December 16, they are functioning as an official validator of the XRP Ledger. This announcement extends the scope of their delegation services. This means that users will now be able to leverage their Spark tokens as viable collateral to get XRP/FXRP and earn trading fees.

As previously reported, on December 12, 2020, the Flare Network Snapshot that recorded the accounts that are eligible to be a recipient of the Airdrop of Spark tokens from Flare Networks happened. However, some users expected to receive the said tokens on the same day as well. Contrary to their belief, the token is expected to be distributed via this airdrop next year, either in the first or second quarter of 2021.

jamie xrp news | XRP & Ripple News
Jamie West
Tags: cryptocurrency newsripple news todayRipple pricexrp news predictionxrp news todayXRP price
Jamie West

Jamie West

Jamie is an XRP veteran & keeps his finger on the pulse when it comes to all things crypto.

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XRP News – Keeping You Up To Date With All Things XRP & Ripple

In the rapidly evolving world of digital finance, XRP stands out as a pioneering force, reshaping the landscape of cryptocurrency and blockchain technology. As a core product of Ripple Labs, XRP is not just a digital currency; it’s a breakthrough in how we perceive and engage with global financial transactions. This article delves into the essence of XRP, exploring its distinctive features and the reasons behind its growing popularity.

Unmatched Transaction Speed

One of the most compelling attributes of XRP is its unparalleled transaction speed. In a world where traditional banking can take days to process cross-border payments, XRP offers a stark contrast with its ability to settle transactions in mere seconds. This efficiency is a game-changer for both individuals and businesses, ensuring that funds are transferred quickly and seamlessly around the globe.

Low Transaction Costs

Another significant advantage of XRP is its incredibly low transaction fees. Compared to other major cryptocurrencies and traditional banking methods, XRP stands out for its cost-effectiveness. This feature makes it an attractive option for micropayments and regular international transfers, offering a more affordable solution for everyday transactions.

Scalability and Sustainability

Scalability is a critical factor in the cryptocurrency world, and XRP excels in this aspect. Designed to handle a large volume of transactions without compromising speed or cost, XRP is well-equipped to meet the demands of a growing digital economy. Additionally, its consensus protocol is less energy-intensive than the traditional proof-of-work used by many cryptocurrencies, making XRP a more environmentally sustainable choice.

Broadening Financial Access

XRP is not just a tool for efficient transactions; it’s a catalyst for financial inclusion. By simplifying and reducing the cost of cross-border payments, XRP has the potential to open up global markets to individuals and businesses who previously found these transactions prohibitively expensive or complex. This democratization of financial services is a cornerstone of XRP’s vision.

The Ripple Effect

Ripple Labs, the company behind XRP, is continually expanding its partnerships with financial institutions worldwide. These collaborations are not only a testament to the reliability and practicality of XRP but also a driver for its adoption in mainstream finance. As more banks and payment providers integrate XRP into their systems, its impact and relevance continue to grow.

A Community of Innovators

The XRP community is a vibrant and dynamic force, comprising developers, entrepreneurs, and enthusiasts. This community is at the forefront of exploring new use cases for XRP, pushing the boundaries of what’s possible in the realms of digital payments and blockchain technology.

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