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- 1 RippleX completed the testing of its much-awaited XLS-30 upgrade.
- 2 This new upgrade will bring a range of new features and transaction types.
- 3 After the mainnet activation, the network will deliver great performance and will be more compatible too.
Ripple is one of the leading crypto that has ambitious plans for the future. Since its launch, the network has been upgrading itself with new solutions. Recently, it announced the completion of its much-awaited XLS-30 upgrade which was underway for some time. Now, many users know about this update, but many others don’t have a clue. So let’s figure out why it’s a big deal for Ripple and its community.
What Is XLS-30 Such A Big Update?
On Oct 7, the RippleX team announced that they had completed the XLS-30 upgrade. This upgrade was designed to induct basic DeFi features into the network. According to the team, it has been stress-tested and ready for mainnet activation. After the implementation, the update will make trading, liquidity, and cross-assets swaps easier. Reportedly, it is the most crucial part of the upcoming Rippled 1.12.0 upgrade.
It will bring major technological advancements to the entire XRP ledger ecosystem. XLS-30 is not only introducing a spectrum of new features, it’s also deploying new transaction types. All in all, it is giving a major overhaul to the existing payments engine. In July 2023, the Ripple developers put across its proposal. The leading blockchain security firm CertiK did a stringent audit of it too.
By early September 2023, the team integrated XLS-30 and XLS-39 into the code base of the proposed release.
When Is The Mainnet Activation Due?
Ripple tested the readiness of the new upgrade rigorously in the last 12 months. They examined the performance and compatibility factors of it. Also, they put effort into coming up with a secure codebase. On top of that, they also kickstarted the referendum procedure for the mainnet activation. During this process, the team will check the proposed changes and necessary requisites of activation.
They’ll check whether the active nodes can support the threshold of 28/35 for two weeks or not. Once they are sure about it, they’ll start the activation of the 1.12.0 upgrade. Besides XLS-30, Evernode is another L2 scaling platform that is all set to launch on the public mainnet.
Upgrades are important for blockchain networks. They ameliorate the functionality and bring better security too. In the crypto world, there have been quite a few upgrades so far. And it certainly makes sense to know about a few of them.
Notable Upgrades In The Blockchain Space
- Hedera Upgrade
- Cardano Vasil Upgrade
- Monero Network Upgrade
- BNB Smart Chain Mainnet Gibbs Upgrade
- ETH Merge
- BNB Beacon Chain Mainnet Goldel Upgrade
- Cronos Mainnet Network Upgrade Beta v0.7.0 “Huygens”
- Banff, the AvalancheGo Upgrade
- Tezos- Kathmandu Protocol Upgrade
- Kava Network Upgrade
- Litecoin MWEB Upgrade
Conclusion
With XLS030, Ripple will touch new heights of performance and functionality. It would deliver more options and unmatched efficacy to its users. Furthermore, it would gain more trust of the investors and would probably gain more of them too. The comprehensive upgrade will prepare the network for many other challenges in the future too. It might even help Ripple in its ongoing legal battle with the SEC. After all, the network can claim that it offers better security and doesn’t compromise investors’ interests.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
