XRPL Node Operators Must Make Critical Move Now

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XRPL Node Operators Must Make Critical Move Now – Crypto News

Published

3 years ago

November 24, 2023

Dripp

Node operators on the XRP Ledger (XRPL) have just a few hours to upgrade their software to a newer version that can support all of the recent updates that have been made in recent times.

XRPL Node Operators Get Crucial Call to Action

As a blockchain protocol, upgrades are not uncommon on the XRPL and according to an X user, @ShortTheFOMO, the next upgrade dubbed version 1.12.0 might see operators get blocked if they fail to comply by upgrading.

With some of the amendments undergoing voting on the ledger yet to be implemented, the call to update got some community members wondering what would happen to the proposals. Responding, ShortTheFOMO said the voting process will not be impacted and that once upgraded, all node operators will be compliant with what they need to partake in the Automated Market Maker (AMM) agenda of the XRPL.

Some of the impending features the XRPL is bound to witness include the “fixReducedOffersV1”, the “fixNFTokenRemint”, “Clawback”, “AMM”, and “XRPFees” respectively. The fixReducedOffersV1 as reported earlier has passed the required consensus voting mark with 28/35 votes garnered. The amendment seeks to balance out the pricing model of transactions on XRPL-based Decentralized Exchanges (DEXs) to prevent unwholesome practices.

Another proposed amendment that has scaled through is the fixNFTokenRemint which seeks to harmonize the minting of digital collectibles on the network. As a smart contract network that harbors different outfits, implementing the proposal will place it in the right state to compete with other chains including Ethereum (ETH) and Solana (SOL) amongst others.

What’s Next After Upgrade?

First, the upgrade of the XRPL is not a one-off event as more node upgrades might be announced in the future. However, with this current update, all node operators can gain access to the new amendment of which many are already hitting their 2-week waiting period.

Notably, some of the amendments on the XRPL including Clawback, AMM, and XRPFees are yet to pass the required threshold. While revolutionary, the chances proposed in Clawback seem sketchy with many operators disfavoring its passage. Notably, the proposal wants there to be a clause whereby funds can be recalled from applications and users if an occasion arises.

While this push might help developers in cases of handling fraud, some community members are concerned about the ethical aspects of encoding such a clause into the protocol.