Business

XRP Ledger (XRPL) Expands UNL, Anodos Finance Joins Elite Validators – Crypto News

Published

1 year ago

May 8, 2024

Dripp

The XRP Ledger (XRPL) Foundation said on Tuesday that Anodos Finance became part of the trusted list of validators on its Unique Node List (UNL). This comes after Digifin.uk was removed from the list, which was at the latter’s request.

The addition of Anodos Finance to this list makes it one of the 35 key players who should be trusted to ensure the integrity and stability of the XRP Ledger. Anodos Finance’s official statement is that “Participation in the UNL transforms us into one of the central figures in the process of maintaining the integrity and stability of the XRP Ledger, which is a duty we take upon ourselves with pleasure and enthusiasm.”

To be included in the UNL, the user must meet the requirement of being highly available in terms of a robust, production-grade infrastructure. The validators should enquire about the amendment voting process, and the underlying entity of the validator should be transparent. As such, this strict selection procedure guarantees that only the most trusted nodes are given the vital task of supporting consensus and stability within the XRP ecosystem.

XRP Ledger Enhances Node Management System

The XRP Ledger Foundation has been developing the recommended list of nodes for three years now. The purpose is to move away from the previous centralized model, which was supported mainly by Ripple.

In the beginning, the most significant actors who managed their own UNLs were Ripple and Coil, which is now bankrupt as a web monetization platform. The change represents a departure from the system where Ripple provisioned a default curated list of nodes, a practice that had been heavily criticized and scrutinized, particularly by the U.S. Securities and Exchange Commission during Ripple’s protracted legal battles.

Other blockchain networks, such as Bitcoin and Ethereum, do not have an identified set of trust nodes; they, however, use decentralized consensus mechanisms. The maturation of the approaches taken in XRP Ledger´s node management and consensus reflects the constant attempt among the blockchain community to make the blockchain system more resilient and reputable.

Anodos Finance Discusses XRPL AMM Misconceptions

In related news, Anodos Finance co-funder Panos Mekras just opened up about some common misconceptions regarding XRP Ledger’s AMM on social media. Mekras stressed that liquidity provision should be considered as a stand-alone income strategy unrelated to the long-term holding strategies of XRP tokens. He emphasized, “When you are a liquidity provider, the main thing for you is incomes and fees earned from trading activity. It’s good for you not to care if you’ll have more on one side and less on the other side. The total profit is what you need.”

This guidance is timely as the XRP community is venturing into new features within its ecosystem, with the AMM being one of them that will improve liquidity and trading efficiency. Mekras’s comments emphasize the necessity of comprehending the economic and operating aspects of such characteristics critical for the participants willing to interact with the changing face of the XRP Ledger.