RippleX, the development division of Ripple, has recently unveiled an important update for the XRP Ledger, rippled 1.12.0. This update is under community review and could revolutionize how digital assets are traded and secured on the platform. Two groundbreaking features, XLS-30 and XLS-39, are at the heart of this upgrade.
The first feature, XLS-30, aims to streamline digital asset trading by introducing native Automated Market Maker (AMM) capabilities. This will work with the existing Decentralized Exchange (DEX) on the XRPL, allowing for more efficient and automated trading through liquidity pools. Ripple’s CTO, David Schwartz, has been particularly vocal about the potential of this feature, describing it as one of the most exhilarating developments in recent memory.
The second feature, XLS-39, focuses on asset security by implementing a Clawback function. This will enable the issuers of digital tokens to retrieve them under certain conditions, such as when they are sent to accounts that have been flagged or are involved in illegal activities. While initially deactivated to comply with regulations, the Clawback function is irreversible once activated.
For these features to be officially incorporated into the XRPL Mainnet, they must secure approval from a significant portion of the community. Specifically, at least 80% of the XRPL validators must vote in favor of the update, and this level of support must be maintained for a continuous two-week period.
The rippled 1.12.0 update is poised to set new industry standards if it receives the necessary community backing. By enhancing trading functionalities and bolstering asset security, this upgrade can significantly alter the landscape of the XRPL and the wider cryptocurrency ecosystem. As the voting process continues, anticipation builds over the transformative impact these features could have.