False XRP Trust Filing Incident: Unlikely to Impact SEC’s bitcoin ETF Decision

A false XRP trust filing linked to BlackRock has raised questions about its potential impact on the Securities and Exchange Commission’s (SEC) decision-making process regarding spot bitcoin exchange-traded funds (ETFs). While some industry observers express concerns about the incident, many experts believe it is unlikely to significantly sway the SEC’s stance on bitcoin ETFs. Nevertheless, the incident does draw attention to the SEC’s ongoing concerns about market manipulation and fraud in the cryptocurrency space. It highlights the importance for ETF applicants to demonstrate robust safeguards against such issues.

XRP Ledger Gets Major Upgrade with New Features and Proposed Amendments

An enthusiastic XRP supporter, known as Krippenreiter on X (formerly Twitter), recently announced the launch of the latest version of the XRP Ledger. This upgrade comes with core updates and introduces new functionalities that are expected to enhance the XRPL ecosystem.

XRP Ledger‘s Latest Upgrade

Krippenreiter shared the exciting news on Nov. 12, providing insight into the key changes and improvements that have been incorporated into the upgraded XRP Ledger. The update brings forth four distinct changes to the Ledger, as well as four proposed amendments that could shape the future of the XRPL.

According to Krippenreiter, a significant breaking change is on the horizon in the form of a rippled version update, with plans for it to be available to all node operators by Nov. 13. This update brings a fresh API version, APIV2, which promises more functionalities compared to traditional APIs.

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The introduction of APIV2 includes the implementation of the DeliverMax feature, the addition of error messages, and the removal of certain API methods, streamlining the XRPL’s interface and improving user experience.

Enhancements in Transaction Per Second (TPS) Performance and Stability

Krippenreiter also highlighted improvements in the Transaction Per Second (TPS) performance and stability of the XRP Ledger. These upgrades were originally proposed by a community member known as MarkTravis15 on X and encompass three significant changes aimed at enhancing the Ledger‘s performance.

The proposed changes revolve around bolstering consensus stability, implementing asynchronous writing of batches to NuDB (a component of the Ledger‘s database system), and introducing periodic intervals for applying transaction batches. These enhancements are expected to make the XRPL more robust and efficient.

New RPC Method and Other Updates

Another noteworthy addition to the XRP Ledger is the introduction of a new RPC (Remote Procedure Call) method. This new method allows software applications to connect effectively to a specific network within the XRPL ecosystem by requesting information from the node. In addition to these improvements, the latest update includes bug fixes and refactoring or rewriting of code to enhance readability and efficiency.

Proposed Amendments and Community Involvement

While unveiling the upgrades in the latest version of the XRP Ledger, Krippenreiter also drew attention to a series of proposed amendments. These amendments, if accepted by the community and subsequently implemented, could have a substantial positive impact on the XRPL ecosystem.

The first amendment revolves around the concept of federated side chains, which would enable bidirectional connectivity to XRPL assets. This proposal aims to promote interoperability within the XRP ecosystem by leveraging witness servers like Xahau, CBDCL, and others.

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The second amendment introduces a sovereign identity solution on XRPL called decentralized identifiers (DID), enhancing the platform’s utility and security. Meanwhile, the third amendment seeks to address issues related to the XRPL payment engine, providing effective solutions to rectify problems that may arise.

The final proposed amendment aims to clarify the establishment and permission of authorized trust lines. This proposal specifically addresses scenarios in which both issuers and users enable specific settings on their accounts, ensuring transparency and efficiency within the ecosystem.

As the XRP Ledger continues to evolve and expand its capabilities, community involvement remains crucial in shaping its future. With these updates and proposed amendments, the XRPL ecosystem appears poised for further growth and innovation.

Price Overview

At press time, CoinStats indicated that XRP suffered a 4.81% loss over the past 24 hours. Consequently, the remittance token was trading hands at $0.630331.

Price chart for XRP (Source: CoinStats)

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### News source: coinpaper.com

By Team