RippleX, the research and development arm of Ripple, has announced the addition of two new specifications to the XRP Ledger in its latest upgrade. The XLS-30 AMM spec and the XLS-39 Clawback spec bring distinctive functionalities to the ledger, enhancing its capabilities and opening up new possibilities for users.
The integration of the XLS-30 AMM spec introduces the concept of a native Automated Market Maker (AMM) to the XRP Ledger. This AMM functionality will work in collaboration with the existing order book decentralized exchange (DEX), providing DeFi stakeholders with a larger audience to trade digital assets through automated liquidity pools. Unlike the traditional pricing method used in order books, the AMM algorithm evaluates the true value of a digital asset on the DEX, offering a more efficient and automated approach to trading.
The XLS-39 Clawback spec enables users to clawback newly issued digital assets using a trustline. This functionality provides greater control and flexibility to users, allowing them to recover or reclaim assets that have been issued to others. This can be particularly useful in situations where assets need to be returned or revoked, adding an additional layer of security and control to the XRP Ledger.
It is worth noting that before these specifications can be implemented on the mainnet, they must first be approved by the XRP Validators. During the voting process, amendments may be made based on feedback from validators. For an amendment to be implemented on the XRP Ledger, it requires the approval of at least 80% of the network validators. This ensures that any changes made to the ledger are supported by a significant majority of the network, maintaining the integrity and consensus of the system. The votes are counted by each network server individually, ensuring transparency and accuracy in the decision-making process.
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In addition to the XLS-30 and XLS-39 specs, RippleX is also actively working on the XLS-38d spec. This specification has recently undergone a comprehensive security audit conducted by Bishop Fox, a leading blockchain security consultancy. The audit aims to identify and address any potential security vulnerabilities or risks in the specification before it is implemented on the mainnet. By proactively assessing and enhancing the security of their technology, RippleX demonstrates a commitment to providing a safe and reliable platform for its users.
Meanwhile, the price of Ripple’s native cryptocurrency, XRP, has been experiencing volatility in the market. Currently trading at $0.49, XRP has seen a 0.43% decrease during the day and a 4.92% decline over the week. The overall performance of the crypto market will play a significant role in determining the future direction of XRP’s price. If the market fails to recover, there is a possibility that the price of XRP may continue to decline.
In conclusion, the addition of the XLS-30 AMM spec and the XLS-39 Clawback spec to the XRP Ledger brings new functionalities and capabilities to the platform. The integration of a native AMM enhances the trading experience for DeFi stakeholders, while the Clawback spec provides users with greater control and flexibility over their digital assets. With ongoing security audits and the support of the XRP Validators, RippleX demonstrates a commitment to innovation and maintaining the integrity of the XRP Ledger. However, the performance of the crypto market remains a crucial factor in determining the future trajectory of XRP’s price.
