Ripple’s New Update Will Include This Widely Anticipated Feature

In an order to initiate the native non fungilbe token (NFT) functionality to the Ripple’s XRP Ledger (XRPL), the validators have finally voted in. The Ripple will be upgrading its servers for the implementation of the protocol. However, David Schwartz, CTO of Ripple, doesn’t feel like voting a Yes for it yet.

Will this amendment help XRP?

Ripple’s DEV blog mentioned that they run extensive testing to ensure that NFT code is stable, scalable and efficient to deliver the expected volume on the ledger. The results came out to be fruitful for the team as they believe that XRPL can support the extra transaction load.

However, the outcome of the testing will be out in the upcoming weeks. This will be done in a bid for a better understanding of performance features and resources needed by server operators. The Validators are asked to do their own research on the matter before accepting it.

Ripple CTO wants to wait

Meanwhile, Ripple’s CTO seems to be a little cautious over voting “Yes” for the update. Schwartz mentioned that he supports this amendment. However, if he was a validator then he wouldn’t have Voted in for “Yes”. He added that he would have at least held back until other authenticators upgraded to 1.9.1 without reporting any issues.

Schwartz launched a theory that validators don’t need to wait. If the voting turns out to be in the favor of implementation of the code, it will still won’t be activated for the next 2 weeks. However, pulling out will still be an available option if any issue arises.

On the market side, Ripple’s native token XRP is still trading under heavy pressure. XRP token’s price has declined by over 42% in the past 30 days. It is trading at an average price of $0.4126, at the press time. Meanwhile, since the NFT announcement XRP token’s 24 hour trading volume has jumped by around 50% to stand at $1.4 Billion.

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]

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