XRP Ledger has bagged a new update that can significantly improve scalability and overall performance.
Ripple Labs Inc, a leading blockchain payment company, has released a new version of its software called Rippled 2.3.0 on the XRP Ledger (XRPL). This software supports the XRPL.
The announcement was made in a post, starting conversations about its grand implications in the blockchain and cryptocurrency community.
Rippled 2.3.0: A Step Forward for the XRP Ledger Ecosystem
Rippled software is the core of the XRPL, enabling functions like payments, asset tokenization, and smart contracts. With the release of version 2.3.0, Ripple aims to improve the platform’s scalability, performance, and overall ability, making it a preferred choice for blockchain developers and users.
Notably, the new update brings important improvements. It offers faster transaction processing, enhanced stability and efficiency, and robust security.
Rippled 2.3.0 has been released!
Attention all node operators and validators: Update to the latest version 2.3.0 promptly
This release is particularly exciting for us!
⁰Our hubs are already bootstrapped, and we’re proud to see them serving an increasing number of peers.
We’re… pic.twitter.com/K58OlBtu01— XRPKuwait (@XRPKuwait) November 26, 2024
Also, Rippled 2.3.0 provides updated APIs, making it easier for developers to create decentralized applications (dApps) on the XRPL. This release also fixes known issues from previous versions, enhancing users’ and developers’ experience.
Meanwhile, node operators and validators are expected to upgrade to version 2.3.0 immediately.
This upgrade will provide new features and keep the network running smoothly. As blockchain technology changes, Rippled 2.3.0 helps XRPL meet growing needs and encourages innovation within the decentralized ecosystem.
Ripple Builds XRPL for Further Institutional and Retail Adoption
Following the recent shift in the SEC vs Ripple lawsuit, which saw XRP obtain much-needed legal clarity in the United States, the blockchain company focused on developing the XRP Ledger. The XRPL network, which uses XRP as the native coin, has grown over the past decade as a major player in cross-border payments.
Ripple has announced several plans to enhance the XRPL in line with the Web3 space. As Coinspeaker explained, Ripple has launched the XRPL EVM sidechain to improve interoperability with the Ethereum Web3 ecosystem.
Furthermore, the company is testing the development of RLUSD. This token is a US dollar-backed stablecoin, which will run on the XRPL and Ethereum blockchains.
Recall that the company intends to introduce advanced programmability on the XRPL to support scalable smart contracts by 2025. Ripple Labs’ plans to enhance dual advancements in XRPL programmability will play a role in the mainstream adoption of Web3 space.
As such, Ripple-backed XRPL will compete with other top-tier layer-one chains. It specifically hopes to compete with Ethereum, Solana, and Toncoin, among others.
Meanwhile, Ripple Labs resurfaced conversations around RWA tokenizations recently. Although the Ripple community’s attention is currently on the RLUSD stablecoin. Ultimately, the mention of tokenization serves as a pointer to an upcoming event in the broader Web3 space.
At the same time, the company is equally working on other improvements and updates for the ecosystem.
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