XRP Ledger's DeFi Ascent: Achieving Major Milestones and Emerging as a Dominant Force.

XRP Ledger Surpasses 82 Million Ledgers
XLS-20 Feature Drives Crypto Adoption and XRPL Growth
FAQ

The XRP Ledger, the decentralized public blockchain supporting the XRP token, has recently achieved a significant milestone by surpassing over 82 million registered ledgers. This accomplishment marks another stride in the XRP ecosystem’s path to becoming a formidable player in the world of decentralized finance (DeFi).

XRP Ledger Surpasses 82 Million Ledgers

The XRP Ledger, known for its unique consensus algorithm and incorporation of the XLS-20 protocol, has achieved a remarkable milestone with approximately 82,035,421 registered ledgers on its blockchain. This achievement comes on the heels of a significant milestone reached in August when the XRPL successfully locked in 81 million ledgers. The rapid growth of the XRPL underscores its commitment to decentralization, speed, scalability, and security.

Blockchain researcher Collin Brown shared details of this achievement in a post on X (formerly Twitter) on Thursday, September 21. Brown expressed his enthusiasm for the XRP ecosystem’s development and even suggested that the XRP blockchain ledger could become a formidable competitor to crypto giants like Bitcoin and Ethereum.

“The XRPL has been on a remarkable journey, having successfully closed more than 82 million ledgers. This impressive milestone is a testament to its resilience and growth. What’s particularly exciting is the XRPL’s emergence as a formidable player in the world of NFTs, putting it in direct competition with Ethereum. This development is not just significant; it’s paving the way for wider XRP adoption. The future looks promising for the XRPL, and its potential impact on the crypto landscape is truly exciting!

XLS-20 Feature Drives Crypto Adoption and XRPL Growth

The XRP Ledger has garnered recognition for its impressive scalability and robust decentralization features over the years. However, the introduction of the XLS-20 feature in 2022 has catapulted XRPL into the NFT (Non-Fungible Token) ecosystem.

The XLS-20 protocol introduces various features to the XRP ledger, including minting and burning capabilities, automated royalties, decentralized exchange (DEX) integration, and traditional NFT support. XRPL has seen over 1.9 million NFTs minted on the ledger, with nearly 30,000 user accounts owning 1.6 million of these minted NFTs. Moreover, there have been approximately $12.8 million worth of NFT assets sold through seamless one-step transactions on the blockchain.

Token price still trending above $0.5 | Source: XRPUSD on Tradingview.com

While XRPL’s entry into the NFT sector has garnered significant interest from creators and collectors, the ecosystem is also preparing for upgrades to its layer 2 smart contract platform, Evernode. These forthcoming upgrades are expected to enhance the reliability and sustainability of the platform while furthering the adoption and innovation of cryptocurrencies and NFTs within the space.

FAQ

1. What is the XRP Ledger (XRPL)?

The XRP Ledger is a decentralized public blockchain that serves as the underlying infrastructure for the XRP cryptocurrency. It is known for its unique consensus algorithm and scalability features.

2. What milestone has the XRP Ledger recently achieved?

The XRP Ledger has successfully closed over 82 million registered ledgers, highlighting its rapid growth and commitment to decentralization.

3. What is the XLS-20 protocol, and how has it impacted the XRPL ecosystem?

The XLS-20 protocol is integrated into the XRP Ledger and offers features such as minting and burning, automated royalties, decentralized exchange (DEX) integration, and support for traditional NFTs. This has propelled XRPL into the NFT ecosystem.

4. What upcoming upgrades are expected in the XRPL ecosystem?*

XRPL is planning upgrades to its layer 2 smart contract platform, Evernode, to enhance reliability, sustainability, and foster further adoption and innovation in the cryptocurrency and NFT space.