Ripple’s XRP Ledger Surpasses 82 Million Ledgers, Boosts NFT Growth With XLS-20 By

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The XRP Ledger (XRPL), underpinning the XRP token, marked a brand new milestone on Friday, September 22, 2023, by efficiently closing over 82 million ledgers. The achievement follows a earlier landmark set in August when the XRPL locked in 81 million ledgers, highlighting its dedication to decentralization, pace, scalability, and safety.

The newest accomplishment was introduced by blockchain researcher Collin Brown on Thursday by way of his social media platform. “With over 82 million ledgers efficiently closed, the XRPL continues to make historical past. The XRPL’s development in NFTs positions it as a robust competitor to Ethereum, paving the way in which for elevated XRP adoption!” Brown acknowledged.

A major driver of XRPL’s latest development is the combination of the XLS-20 protocol. Launched lower than a yr in the past in October 2022, the XLS-20 characteristic has revolutionized the XRPL by enabling native non-fungible tokens (NFTs). The characteristic permits for seamless creation, holding, and buying and selling of NFTs inside XRPL accounts. It additionally provides automated royalties for simplifying royalty administration and environment friendly minting and burning of NFTs.

The appearance of XLS-20 has spurred exponential development within the NFT house throughout the XRPL ecosystem. Over 1.9 million NFTs have been minted since its inception, with near 30,000 accounts now possessing 1.6 million NFTs. Greater than 1.2 million NFTs have been transferred or bought, with a exceptional $12.8 million value of NFTs transacted in single-step offers. These spectacular figures underscore XRPL’s burgeoning potential as a fierce competitor to Ethereum within the NFT realm.

Along with the XLS-20 characteristic, XRPL is reportedly planning upgrades to its layer 2 sensible contract platform, Evernode. These enhancements goal to boost the platform’s reliability and sustainability whereas furthering crypto and NFT adoption and innovation.

The XRP token additionally recorded an all-time excessive in every day buying and selling volumes for crypto exchanges within the U.S. this week. As Ripple continues to make strides, notably within the booming NFT sector, hypothesis mounts on whether or not these monumental achievements can propel XRP’s worth to the touch the $1 mark.

This text was generated with the help of AI and reviewed by an editor. For extra info see our T&C.

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