Ripple’s Latest XRP Ledger Upgrade Is a Gamechanger
United States – Ripple’s XRP remains the next reliable cryptocurrency to Bitcoin and Ethereum. The digital asset continues to climb higher and build stronger momentum. According to Ripple’s CEO, David Schwartz, the network strives to build new partnerships with global banks and other payment providers to enable more people worldwide to transfer money instantly.
Currently, over 300 financial institutions from different countries use Ripple’s XRP in facilitating international money transfers. Although the digital asset’s value is not an all-time high, Ripple continuously performs very well this 2020.
A recent report revealed that David Schwartz confirmed the latest game-changing XRP Ledger feature that expands the network’s decentralization. However, the upgrade is still limited to Rippled 1.6.0, so it can still conveniently check bugs.
According to Ripple’s CTO, this latest XRPL update is an absolute gamechanger. The system now uses the so-called “Unique Node List” or UNL containing all participating validators. The update primarily targets malfunctioning and offline validators due to external circumstances, such as internet problems, hardware maintenance, or attacks.
According to Schwartz, the developers are still checking the latest update for further possible errors; that is why it is not yet available live. With the recent XRP Ledger upgrade, it will be easier to find validators based on various criteria and connect them to the network. When choosing a validator in XRPL, performance isn’t the only criterion. Some of the factors that Ripple consider are network redundancy, institutional commitment, jurisdiction, and commitment to the network.
The biggest advantage of this game-changing update is it will be more accessible to say ‘yes’ to a wide variety and diverse validators, even when they are only running a tiny machine on a single residential connection.
Furthermore, David Schwartz also confirmed that the latest XRP Ledger upgrade could minimize the risk of integrating new validators with the network.
At the time of writing, Ripple has gone up more than 20% in 2020. Earlier this year, the digital asset has hit an all-time high of $3.84, attracting more investors to share some money to Ripple. The Ripple community is also talking about the long-anticipated Ripple-Apple partnership.
Many people think integrating Ripple’s technology to Apple Pay can make fund transfer faster and more convenient. Some critics claimed that there is no doubt that Ripple can be very beneficial to Apple. However, the San Francisco-based firm has not confirmed anything yet.