The development activity of XRP is a remarkable aspect of the cryptocurrency project. Despite the ongoing conflict with the Securities and Exchange Commission, the team and developers at Ripple have made significant efforts to stay focused on their development goals.
Ripple may be going through a challenging period, but attention to the little details surrounding it's blockchain project is keeping the keen eyes of investors fixed on what XRP has to offer. The top-ranking crypto project is almost set to achieve a new milestone that will help significantly improve the XRP ecosystem.
The latest development is the upcoming XRPL upgrade, which is set to receive new features. Two major updates are first, the automated market maker (AMM), and the second, a clawback feature.
Details About the Upcoming Development
Ripple announced on their social channel, speaking about the new upcoming update. They took their time to explain the upgrades and the benefits they will bring to the XRP Ledger.
According to them, the automated market maker (AMM) will redefine how the XRP Ledger has been perceived. It will help to make the progression of transactions more streamlined without any issues.
1/ We’re excited to announce that the XLS-30 AMM spec and XLS-39 Clawback spec have merged to the latest version of rippled 1.12.0.https://t.co/zbg8G4PHsC— RippleX (@RippleXDev) September 6, 2023
The code name for this particular update is XLS-30, and it will serve as a bridge to improve the level of transactions between decentralized exchanges and automated liquidity pools. This is not the only thing. Ripple claims that the new update will help developers connect to a broader audience in the DeFi sector.
"XLS-30 will bring a native Automated Market Maker to the #XRPL that integrates with the existing order book DEX to enable trading of digital assets in automated liquidity pools and enable developers to address a wider audience of DeFi stakeholders," Ripple said.
Furthermore, the clawback feature on the upcoming update has a codename of XLS- 39. According to XRP, this lightweight update will be deployed under the 1.12.0 codebase. This new update's primary function is adding an opt-in capability for newly issued assets.
"XLS- 39 will enable the Clawback feature, a new, lightweight addition to the rippled 1.12.0 codebase. If adopted to the #XRPL Mainnet, Clawback will provide an opt-in capability for newly issued assets to be “clawed back” via a trustline," Ripple added.
When Will This Feature Be Added?
Ripple also provided an update on when they expect the two features to be added to the XRP Ledger. According to their predictions, these two features will be added when certain conditions are met. Ripple says there would be some amendments to the XRP Ledger before the integration of these two features.
Furthermore, amendments can only come when the validator community agrees to implement the feature through a proposal. "To bring either feature to the XRPL Mainnet, these XLS specs must undergo the amendment process, which requires the validator community to largely agree with a proposal," Ripple added.
Each validator on the Ripple network must come together for a vote. Furthermore, the team members gave conditions to proceed with any integrations. 80% of the validators must first agree to take off with the amendment by voting yes. Also, the minimum threshold must remain for 2 weeks. The highlight is that these two updates will help in XRP blowing up.