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XRP Ledger 1.7 Version Released, Will Improve Efficiency and Security

Jamie West by Jamie West
February 26, 2021
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The newest version of the XRP ledger was released on February 25, 2021. Version 1.7.0 of the reference implementation for the software supporting the XRP Ledger (XRPL) was released through key contributions from RippleX. It aims to improve the XRP Ledger’s decentralization, efficiency, and security. 

As part of its continuing commitment to the XRP Ledger, RippleX is still working on updating and improving the use of available systems and resources to make its software work efficiently on almost any server configuration. This update builds on its previously contributed updates and improvements that focus on a new set of changes that greatly reduce its memory usage by over 50%. 

Some of these improvements came directly from the CRO of Ripple, David Schwartz. He is the one who implemented the change that eliminated a layer of caching that further improved the platform’s memory and execution time. 

RippleX announced the release of the XRPL ver. 1.7.0 update 

Caption: RippleX announced the release of the XRPL ver. 1.7.0 update 

Other improvements included in the update are improved validation and proposal routing, which will benefit single server operators and large cluster network, operators. Validator manifest optimization is also included. These are propagated widely and more efficiently throughout the peer network. This update effectively improved the system and added greater visibility into the overall environment for its operators. 

The update also introduced the forward ledger replay. This is a key improvement to the XRPL that will enhance the security and greatly reduce the bandwidth required by allowing servers to retain synchronization throughout the network easier. However, this is an optional feature that can only be accessed and initiated through the XRPL options. 

The release of the update is another step towards the evolution of the XRPL, and each of the features added is aimed to directly help the XRPL’s network operators and improve its capabilities exponentially. The XRP Ledger foundation will also play an active role in maintaining the XRPL infrastructure. 

jamie xrp news | XRP & Ripple News
Jamie West
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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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