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Decentralized-XRP-Ledger-Network-is-Independent-of-Ripple

Decentralized XRP Ledger Network is Independent of Ripple

Without Ripple approval, this XRP Ledger Amendment goes live and this is all we know

Without Rippleā€™s explicit approval, a new amendment to the XRP Ledger will go live. With a vote count of 27 out of 34, the “CheckCashMakesTrustLine” amendment will be automatically activated on the XRP Ledger. The change will affect the “checks” feature of the XRP Ledger, which has been available for the past two years.

It works in the same way that personal paper checks do. The sender writes a check for a predetermined amount, and the recipient must redeem the check to receive the predetermined amount. Because funds are not transferred until the check is cashed, the check may fail to clear depending on the sender’s current balance and available liquidity. The new change modifies the “CheckCash” transaction so that a trust line for the token is automatically created when a check is cashed for an issued token. This eliminates the need to establish a trust line before receiving a token via check.

Before implementing the change, users had to send a separate “TrustSet” transaction before cashing a check for an issued token. According to community member “Wo Jake,” the amendment will be approved with 27 out of 34 votes on the dUNL, as the list was reduced from 35 to 34 validators. One validator was transferred to the nUNL: The validator who was moved to the nUNL did not vote and has not been moved back to the dUNL for two weeks, resulting in the amendment passing the 80% consensus threshold.

The XRP Ledger is Not Dependent On Ripple

The amendment system enables the addition of new functionality to the decentralized XRP Ledger network without the need for approval from a centralized entity such as Ripple. The system employs a decentralized consensus process in which more than 80% of dUNL

validators must support the change for two weeks before it can take effect. Previously, there were concerns about the XRPL’s decentralized nature and the default Unique Node List (dUNL). There are, however, multiple UNLs, and each UNL is a distinct list of validators that serve as the source of consensus.

As Wo Jake explained in a previous Twitter thread, the network uses three widely known UNLs: Ripple’s, the XRP Ledger Foundation’s, and Coil’s, with all of them overlapping and the dUNL being the most common overlap in the network. Validators of the XRPL are free to use any UNL they want. However, as Wo Jake discusses, the dUNL is the most popular because it consists of reliable, secure, and trusted validators, it is the default UNL when installing ‘rippled,’ and it is a reliable source of consensus. As a result, even if Ripple fails, the XRP Ledger may survive. Ripple’s impact on the changes is almost non-existent. At the time of publication, the XRP price was $0.4232, aiming for a break out of the resistance zone and above the 200-day EMA.