XRP Ledger (XRPL) is committed to offering a high-performing space to users by ensuring their system is updated with all the limitations and enhanced features. Ripple Labs has introduced an XRP Ledger updated version 2.4.0, officially released with new features, fixed bugs, and several major updates. These updates have enhanced space security, functionality, and governance of the XRPL. Notably, XRP Ledger is transitioning to a better and new Unique Node List (UNL) system, which you will be able to uncover below. It will ensure the system’s reliability and security; let’s find it!
Key Amendments in Version 2.4.0
As discussed, there are several amendments introduced in this latest version, including:
DynamicNFT (XLS-46)
This amendment has allowed the system to mint mutable NFToken objects, allowing URI changes post-mining. This has brought the system flexibility for NFT use cases within the XRPL space.
PermissionedDomains (XLS-80)
This feature introduced permissioned domains in the system that contribute to regulatory compliance by restricting access to certain aspects of the ledger as required by the governance structure.
DeepFreeze (XLS-77)
DeepFreeze allows token issuers to freeze the trust lines (a connection between two accounts that allow one account to hold and transact tokens issued by another), effectively blocking the asset transfer for accounts flagged under compliance or risk measures.
fixFrozenLPTokenTransfer
Liquidity pool (LP) is a feature in this updated version where the token can no longer be transferred if the associated pool contains at least one frozen asset. This allows the system to offer enhanced security and compliance mechanisms.
fixInvalidTxFlags
This feature offers enhanced transaction confirmation and ensures the flag checking for CredentialCreate, CredentialAccept, and CredentialDelete transactions, reducing the risk of invalid operations.
XRP Ledger Foundation’s New Public Key and UNL Migration
This recent transition to a new XRPL space, a staged migration process for the UNL, has also taken place. The aim of this is to maintain uninterrupted network participation and facilitate a smooth transition for validators and node operators. A new subdomain, unl.xrplf.org, has been introduced alongside vl.xrplf.org, followed by a validator-example.txt file that has been updated to store the latest public key used on XRPL space.
New Features and Enhancements
These are some of the new features and updates that users can find in this XRPL version:
Transaction Simulation API
A new API is introduced that allows users to execute dry-run transactions and observe simulated metadata; this whole procedure is called simulate. Simulate allows pre-submission analysis and debugging.
Improved Ledger Entry Filtering
Ledger entry types cannot be filtered by their canonical names across ledger, ledger_data, and account_objects API methods. This improves the system query accuracy and efficiency.
Security Enhancements
Validators now have the option to set a minimum required number of UNL publishers for consensus validation or confirmation; this has allowed overall network integrity.
Better Debugging and Logging
This update on this version allowed detailed logging for each validation and proposal received from the network, along with improved git commits for debugging purposes.
Bug Fixes and Performance Improvements
Several issues have been addressed by the 2.4.0 updates, including:
- Fixing a bug without any overlapping of the data types.
- Resolving a window-built issue with VS2022.
- Fixing assertion errors related to connecting admin RPC and PermissionedDomainDelete.
- Enhancing validator amendment vote tracking and debug logging.
- Fixing a bug with overlapping data types in the expected class.
- Preventing any double charging of fees.
- Improving its infrastructure, that is, MacOS unit test stability and CI performance.
Conclusion
The XRPL update to version 2.4.0 is a significant move taken by Ripple Labs to improve its NFTs managed capabilities, service enhancement, and governance mechanisms. As XRPL continues to evolve, these updates reinforce its position as a leading funding and financial solution for individuals and financial institutions. For more insights into the future of XRPL, check out the latest XRP price prediction and how it could impact the market. Stay updated with the latest XRP news for further developments in the space.
