• The XRP Ledger has received a new proposed amendment for implementation on the ledger.
• The proposal will change the XRP ledger transactions, objects, and even RPC methods.
• The changes will allow the use of Trustline balances on Escrows and PayChannels, helping token issuers to retain authorization control of their assets.
The XRP Ledger is an open-source, decentralized, and permissionless network that enables various payments-related applications such as DeFi, micropayments, and even NFTs. Over the years, its native token XRP has become one of the most prominent cryptocurrencies in the crypto space. Recently, the XRP Ledger has received a new proposed amendment for implementation on the ledger. Denis Angeli is the contributor and proposer of the recent amendment tagged with the code XLS-34d.
The proposed amendment details suggest some changes in the structural facilities of the XRPL ecosystem. It noted that such adjustments would help to improve the non-XRP native XRPL assets’ capabilities and functionalities. The new amendment will change the XRP ledger transactions, objects, and even RPC methods. In addition, it will allow the use of Trustline balances on Escrows and PayChannels.
The XRP Ledger currently supports different on-ledger negotiable instruments like Checks, Escrows, and PayChannels. However, the Escrows and PayChannels are used only for the native XRP assets. It is the Check that allows the use of Trustline balances. With the changes, escrow accounts would include all assets developed on the XRP ecosystem. This will make it possible for a project team to lock some tokens in a Trustline balance and monitor the token supply.
Further, the amendment would allow token issuers to retain authorization control of their assets. This means that they will have the power to decide who can access their tokens. The proposed changes also enable the creation of a tokenized version of the XRP ledger. This would allow developers to create tokens that are compatible with the XRP ledger and its protocols. Ultimately, the changes would help to improve the overall efficiency of the XRP ledger.
The XRP Ledger is an incredibly powerful network and the proposed amendment will further enhance its capabilities. With the implementation of the amendment, the XRP Ledger will be able to provide users with more options and improved flexibility. This will make it easier for users to transact and use their tokens on the XRP ledger. Overall, the proposed amendment is a positive step forward and will benefit the XRP Ledger in the long run.