The XRP Ledger (XRPL) is set to undergo a significant transformation with the release of rippled server software version 2.0.0. This update, expected to be available to all node operators by November 13, 2023, marks a major evolution in XRPL’s capabilities, signaling a shift in its operational landscape.
Central to rippled v2.0.0 is the introduction of a groundbreaking API version. Described by community analyst Krippenreiter as a “major breaking change,” this API is poised to revolutionize the way the ledger processes requests and responses.
[8/16] — 1⃣ New Amendments — XChainBridge
— Krippenreiter (@krippenreiter) November 12, 2023
Originally presented as "federated sidechains," @msvadari's revised version will give a means to bidirectionally connect XRPL assets across XRPL-like ledgers using witness servers.
Examples:
🔸 XahauL
🔸 XRPL
🔸 CBDCL
🔸 EVM-Sidechain pic.twitter.com/jT7vl1QmAJ
Accompanying this is a substantial improvement in the ledger’s transaction per second (TPS) performance. Initially proposed enhancements by Mark Travis, a performance Engineer at Ripple, have now materialized, promising to bolster consensus stability and throughput. A notable update on Ripple’s official website reveals the leap from 1,500 to 3,400 transactions per second, highlighting the scale of this enhancement.
This update isn’t just about speed; it’s also about connectivity and interoperability. The introduction of the XChainBridge amendment, a concept evolved from ‘federated sidechains’ by Mayukha Vadari, a senior software engineer at RippleXDev, aims to enable seamless asset connections across XRPL-like ledgers.
Additionally, the update aligns with W3C guidelines through the introduction of a decentralized self-sovereign identity, alongside adjustments in trustline settings and offer crossing behavior. Another remarkable addition is a new RPC method, developed by Mayukha Vadari and Richard AH, the CTO at XRPL Labs, which simplifies data retrieval across chains.
The governance model of XRPL, crucial in adopting these updates, relies on a consensus process among validators. For an amendment to be adopted, it must secure over 80% support from validators over two weeks, after which it becomes an integral part of the ledger.
As the XRPL community eagerly anticipates the release of rippled v2.0.0, the update signifies more than just technical enhancements. It represents a strategic shift towards a more interconnected and efficient XRPL ecosystem equipped with sidechains, forks, and bridges.
This advancement not only promises performance improvements but also opens doors to a myriad of possibilities in the cryptocurrency landscape. As of now, XRP trades at $0.664, but the impending release could herald a new era for the ledger and its stakeholders.
