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May 24, 2023 β€’ 13 tweets β€’ 11 min read β€’ Read on X
[1/🧡] #THREAD β€” A (very brief) summary of what will change on the #XRPLedger as a result of these amendments (if passed). πŸ‘‡

#XRPLCommunity #xrpthestandard #xrpholders #XRPArmy #XRPCommunity #XRPL #XRP #Ripple
[2/12] β€” #DisallowIncoming β€”

ℹ️ Adds 4 additional "settings" (flags) to the #XRPL to better granularly manage the permissions specified on your account.

More Details πŸ‘‡ Source: https://xrpl.org/kn...
[3/12] β€” #fixNonFungibleTokensV1_2 β€”

ℹ️ Several bug fixes across the board for #XRPL #NFTs (#NFToken Object).

More Details πŸ‘‡ Source: https://xrpl.org/kn...
[4/12] β€” #fixTrustLinesToSelf β€”

ℹ️ 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.

More Details πŸ‘‡ Source: https://xrpl.org/kn...
[5/12] β€” #fixUniversalNumber β€”

ℹ️ Simplifies and unifies specific math-related code to provide somewhat higher accuracy in exact calculations.

More Details πŸ‘‡ Source: https://xrpl.org/kn...
[6/12] β€” #ImmediateOfferKilled β€”

ℹ️ 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."

More Details πŸ‘‡ Source: https://xrpl.org/kn...
[7/12] β€” #XRPFees β€”

ℹ️ 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.

More Details πŸ‘‡ Source: https://xrpl.org/kn...
[8/12] β€” #CryptoConditionsSuite β€”

ℹ️ Deprecated amendment with abandoned code that you should not vote for.

More Details πŸ‘‡ Source: https://xrpl.org/kn...
[9/12] β€” 1⃣ #Summary / TL;DR β€”

Very straight-forward amendments that I don't see any problems w/, & I anticipate them to be approved on the #XRPLedger in the foreseeable future. Source: https://github.com/...Source: https://github.com/...Source: https://github.com/...Source: https://github.com/...
[10/12] β€” 2⃣ #Summary / TL;DR β€”

Nonetheless, I would vote "Nay" for the time being since a ton of servers would get amendment-blocked. Source: https://xrpl.org/am...
[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.

❗️ Over 200 nodes and 15 validator servers will be impacted ❗️ Source: https://xrpscan.com...
[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.

Please follow me here:
@krippenreiter

Feel free to contribute by sharing here: πŸ₯°πŸ‘‡

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More from @krippenreiter

Dec 14
[1/🧡] Roughly 68% of all nodes have already upgraded to the latest version of the XRP Ledger server software.

However I bet you have no idea about all the new features that have been introduced, right? 🧐

Here's everything you need to know, short & simple. πŸ‘‡ Source: https://xrpscan.com/validators
[2/16] β€” 1⃣ Background β€”

Nodes upgrading to the latest rippled version 2.3.0 are not automatically forced to vote "Yeas" on any new amendment.

It's up to each validator in the governance process of the XRP Ledger by voting on proposed amendments that get introduced. Source: https://xrplwin.com/nodes
[3/16] β€” 2⃣ Background β€”

The reason why some new features are "special" and proposed as an amendment is because they change or affect transaction processing on the XRP Ledger.

Since the XRPL is decentralized you need validators (>80%) to agree on these drastic changes first. Source: https://xrpl.org/docs/concepts/networks-and-servers/amendments
Read 17 tweets
Dec 7
[1/🧡] XRP Ledger Crashcourse for Beginners!

The XRPL ecosystem is very unique from what many newcomers are used to, which begs the question, β€œWHAT THE HECK IS EVEN GOING ON HERE?”

Here's everything you need to know packed into one single thread. πŸ‘‡ Source: https://ripple.com/xrp/
[2/21] β€” Outline β€”
πŸ”Έ Who is Who?
πŸ”Έ XRP Ledger Consensus Protocol
πŸ”Έ XRP the Cryptocurrency
πŸ”Έ Servers & UNL
πŸ”Έ Ledgers
πŸ”Έ Payments
πŸ”Έ Tokens
πŸ”Έ Decentralized Exchange
πŸ”Έ Smart Contracts
πŸ”Έ Compliance Source: https://www.gagan.pl/crypto/xrpl-funkcja-sprawdzania-na-horyzoncie/
[3/21] β€” Who is Who? β€”

The ecosystem broken down to the basics:
πŸ”Έ XRP β€” The Coin
πŸ”Έ XRPL β€” Layer-1 Blockchain
πŸ”Έ XRPL Labs β€” Organization in The Netherlands
πŸ”Έ XRPLF β€” Non-Profit Association in France
πŸ”Έ Ripple β€” For-Profit Company in USA Source: https://ripple.com/
Read 22 tweets
Nov 16
[1/🧡] The bull run is here and you're new to XRP and the XRP Ledger and don't know where to start? 🀨

Here's a comprehensive list of websites and the essentials you NEED to know to get started and get the hang of the ecosystem!

Follow me as I go! πŸ‘‡ Source: https://xrpl.org
[2/23] β€” Outline β€”
πŸ”Έ Introduction
πŸ”Έ The "Core"
πŸ”Έ Explorers
πŸ”Έ Wallets
πŸ”Έ Services
πŸ”Έ DeFi Source: https://www.gagan.pl/crypto/xrpl-funkcja-sprawdzania-na-horyzoncie/
[3/23] β€” 1⃣ Introduction β€”

The XRPL is a decentralized, immutable, censorship-resistant, permissionless DLT that offers several native Layer-1 functions such as AMM, orderbook & tokenization.

The XRPL is NOT Ripple, as Ripple didn't exist when the XRPL was originally released. Source: https://xrpl.org
Read 24 tweets
Oct 8
[🧡] Most people lose money to the XRPL-AMM! 😒

The reasons vary, but typical beginner's mistakes are the main reason for drastic (im)permanent losses. (pun intended)

If you are an XRPL-AMM beginner, there are exactly 10 golden rules that I think most people should follow πŸ‘‡ Source: @krippenreiter
[2/15] β€” TL;DR β€”

If you don't like pretty pictures, but would rather have someone explain the details to you, you can find my video version of this thread here. πŸ‘‡

[3/15] β€” 1⃣ Golden Rule β€” Source: @krippenreiter
Read 16 tweets
Sep 12
[1/🧡] The institutional financial future will be completely on-chain, HOWEVER...

It will be trust-based, gated, and fully compliant with:
πŸ”Έ KYCβ€”AMLβ€”CTFβ€”APFβ€”OFAC

How do you stay compliant on the decentralized and permissionless XRP Ledger that's neutral to its users? πŸ‘‡ Source: @krippenreiter
[2/18] β€” Regulatory Compliance β€”

Institutions who want to work with Ripple to use their tech stack must be careful not to get into trouble while using blockchain technology.

For this, Ripple has pledged NOT to:
πŸ”Έ Launder money
πŸ”Έ Finance terrorism
πŸ”Έ Evade sanctions Source: https://www.mentu.com.py/blog/1807/implementando-el-compliance
[3/18] β€” KYC β€”

For institutions who wish to directly use the XRP Ledger, it's critical to always "[K]now [Y]our [C]ustomer".

Just as when you set up a bank account, an institution will not accept complete anonymity or even pseudonymity and will ask for your identity. Source: https://www.investopedia.com/terms/k/knowyourclient.asp
Read 19 tweets
May 21
[1/🧡] Did you know that there is scientific research on the optimal fees for geometric mean market makers (G3M), one of which is the XRPL-AMM?

πŸ’‘ We are doing it all wrong, and here's everything you need to know to revive the AMM. πŸ‘‡ Source: @krippenreiter
[2/20] β€” Basics β€”

First of all, among every complaint about the XRPL-AMM, trading fees are something over which we have power.

The voting mechanism of the design passes control to the top eight largest LP-Token holders in each pool, allowing them to regulate trading fees. Source: https://xpmarket.com/amm/pool/USDC-rcEGREd8NmkKRE8GE424sksyt1tJVFZwu/XRP/voting
[3/20] β€” Facts β€”

Fees
πŸ”Έ Charged for swapping
πŸ”Έ Range: 0% - 1%
πŸ”Έ Smallest reasonable value: 0.001%

Weight
πŸ”Έ Percentage ownership of a pool
πŸ”Έ Range: 0% - 100%
πŸ”Έ Smallest reasonable value: 0.001%

β†ͺ️ The trading fee comes from the weighted mean of the largest 8 active votes Source: https://xpmarket.com/amm/pool/USDC-rcEGREd8NmkKRE8GE424sksyt1tJVFZwu/XRP/voting
Read 21 tweets

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