Maker

bullish

2024

<figure>
 <figcaption>
  Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<p dir="ltr">The&nbsp;<a href="https://u.today/xrp-ledger-might-soon-level-up-with-new-upgrades-details" rel="noopener noreferrer nofollow">XRP Ledger</a> (XRPL) has made a significant announcement of a new amendment. The amendment under the code fixAMMv1_1 will go live on the XRPL later this month. In a post on X, the XRPScan explorer informed community members of the development.</p>
<h2 id="understanding-xrpl-amendment-and-its-impact">Understanding XRPL amendment and its impact</h2>
<p dir="ltr">An amendment in the XRPL context implies a proposal to change the existing code or protocol governing a specific function in the ledger. These amendments can help fix bugs, and improve or introduce new features.</p>
<p dir="ltr">However, for the amendment to happen, validators must reach a consensus. That is, the<a href="https://xrpscan.com/amendment/fixAMMv1_1" rel="noopener noreferrer nofollow">&nbsp;fixAMMv1_1 amendment</a> has to get the nod of most of the validators or nodes that maintain the network. As of the time of writing, 29 out of the 35 votes cast have voted yes to the amendment. This represents 82.86% of the consensus already.</p>
<blockquote>
 <p lang="en" dir="ltr">Amendment fixAMMv1_1 is now in 14 day activation window: <a href="https://t.co/acVszQ6P7U" rel="noopener noreferrer nofollow">https://t.co/acVszQ6P7U</a> <a href="https://t.co/XYpyQZnvyz" rel="noopener noreferrer nofollow">pic.twitter.com/XYpyQZnvyz</a></p>— XRPScan (@xrpscan) <a href="https://twitter.com/xrpscan/status/1833491616142676322?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 10, 2024</a>
</blockquote>
<p dir="ltr">If it scales through, the XRP community will expect a new update or fix to the Automated Market Maker (AMM) feature. When implemented, it will allow for decentralized trading directly on XRPL. This aims to improve liquidity and efficiency for traders on the blockchain.</p>
<h2 id="prior-amendments-and-community-sentiment">Prior amendments and community sentiment</h2>
<p dir="ltr">Notably, the amendment for fixAMMv1_1 has entered a 14-day activation window. If the 82.86% approval is sustained for two weeks, the <a href="https://u.today/major-xrp-amendment-in-serious-jeopardy" rel="noopener noreferrer nofollow">amendment</a> becomes active, and the changes to fixAMMv1_1 will be implemented on the network. The approval support threshold stands at 80%.</p>
<p dir="ltr">As <a href="https://u.today/crucial-xrp-ledger-xrpl-amm-amendment-goes-live-on-mainnet-details" rel="noopener noreferrer nofollow">reported</a> by U.Today in April, XRPL performed a major update to the mainnet known as the "fixAMMOverflowOffer." The update was meant to fix the problem of large synthetic AMM offers being handled incorrectly in the payment engine. On that occasion, it reached 100% consensus from validators.</p>
<p dir="ltr">Some members of the community have lauded the amendment's already-in-activation period. At the time of writing, <a href="https://coinmarketcap.com/currencies/xrp/" rel="noopener noreferrer nofollow">XRP</a> traded up 1.48% to exchange hands for $0.5375, signaling bullish sentiment.</p>

Major XRP Ledger (XRPL) Amendment About to Go Live

Table of Contents

U_Today

Other articles published on Sep 10, 2024

WazirX is going to court with support of 0.01% users

Is XRP Symmetrical Triangle Signaling a Bullish Breakout?

Shiba Inu Gains Momentum With Shibarium And Game Updates

Chris Burniske Foresees Bright Prospects for Crypto

Ctrl Wallet Announces Major Liquidity Initiative and $XDEFI Token Updates (10 Sep)

Bitfarms Delays Shareholder Meeting in Response to Riot’s Request

Join our free newsletter for daily crypto updates!