βΉοΈ Deletes exactly 2 #XRPL trust lines with very specific IDs that exist solely due to an old bug from 2013, and then does nothing else afterwards.
βΉοΈ Changes the so-called "OfferCreate" #XRPL transactions so that when no funds were really moved while canceling the "Offer," the outcome should not be "success," but rather "killed."
βΉοΈ Transaction cost calculations will be simplified since "fee units" will be replaced withΒ #XRP drops, removing the requirement to convert the results of those "fee units" to XRP first when computing XRP fees.
Nonetheless, I would vote "Nay" for the time being since a ton of servers would get amendment-blocked.
[11/12] β Servers that run on old #rippled code β
Your server must run at least v1.10.0 to avoid being amendment-blocked very soon.
βοΈ Over 200 nodes and 15 validator servers will be impacted βοΈ
[12/12] This should provide you with a high-level summary of the few changes planned to the #XRPL, which will mostly cover and improve performance concerns.
[1/π§΅] A paradigm shift for the XRP Ledger is on the horizon βΌοΈ
It's a future that's:
πΈ Programmable
πΈ Automated
πΈ Compliance-first
Let's take a look at some of the fundamental arguments and work out what this will mean for XRP. π
[2/18] β 1β£ Status Quo β
To date, the XRPL is a so-called βfixed-functionβ blockchain, which only allows new native features to be added to the XRP Ledger if the on-chain governance process votes in favor of it.
If you're a pessimist, you would call this βpermissionedβ. π
[3/18] β 2β£ Status Quo β
But there are actually many benefits and advantages that support this approach, e.g.:
πΈ Battle-tested (i.e. Escrow, Paychannel)
πΈ Aggregated Liquidity (CLOB+AMM)
πΈ Automatic Version Upgrades
πΈ Higher Standards (More Audits and Performance Tests)
[1/π§΅] One of the more fundamental proposals became public today. It's a draft that lays out a path to an inheritance solution for the XRP Ledger. π§
In my view, this is so much more than βjustβ an inheritance solution.
[1/π§΅] There are people out there who still believe that there are ways to clawback XRP on the XRPL. π€¨
While this is NOT possible & is written all over the official documentation, there is one more argument that should hit the nail on the coffin.
The ULTIMATE reason why π
[2/14] β Tokens β
Whenever you hear βclawbackβ, you should automatically think of βissued assetsβ.
They are fungible and come in many forms and structures:
πΈ IOUs
πΈ Stablecoins
πΈ Multi-Purpose (later this year)
Anyone can issue these kinds of tokens on the XRP Ledger.
[3/14] β Structure β
On the XRPL, all currently issued token holdings exist via so-called βtrust linesβ, i.e. an accounting relationship between a person holding a token & the issuer.
In other words, something to prevent you from holding a token that you don't want.