XRP Ledger Developer Xumm announces major infrastructure overhaul

XRP Ledger Developer Xumm announces major infrastructure overhaul

Xumm Announces Infrastructure Overhaul for XRP Ledger

Xumm, the company behind the XRP Ledger crypto wallet, recently unveiled its plans for an “Infrastructure Overhaul” that aims to take the XRPL (XRP Ledger) to the next level. This upgrade is not just a technical enhancement but a strategic move to reshape the foundation of the XRPL, ensuring a sustainable, efficient, and inclusive future for all participants.

Addressing Key Issues and Improving Network Performance

Xumm acknowledges that the XRP Ledger already has an advanced infrastructure but seeks to address some key issues impacting flexibility and performance. The current capabilities of the network make it difficult to process transactions and fetch historical data, which can eventually hinder the ledger’s capacity to onboard new users and use cases.

To overcome these challenges, Xumm’s upgrade aims to improve the ledger’s capacity, enhance local node connections, and ensure access to real-time data. The infrastructure overhaul will allow entities operating on the ledger to filter out transactions, avoid scam accounts, reduce network fees, and improve scalability.

This monumental upgrade to the XRPL infrastructure marks a pivotal moment in the pursuit of a healthier and more sustainable XRP Ledger, as stated by Wietse Wind, the founder and CEO of XRPL Labs.

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Introducing a New Monetization Strategy for XRPL Users

In addition to enhancing the infrastructure and ecosystem of the XRPL, Xumm plans to introduce a new monetization strategy that rewards node operators. The company has rebuilt the XRPL Cluster Software, aiming to encourage users to operate their own nodes instead of relying on third parties.

This shift in the ecosystem puts more financial pressure on major platforms such as non-fungible token (NFT) marketplaces or crypto trading platforms, rather than on individual operators within the ledger. Xumm describes this change as an “Airbnb for XRPL infrastructure,” where users can contribute resources, earn a share of the billing from larger consumers, and ensure better stability, real-time transaction processing, and connection consistency across the ecosystem.

Benefits of the Infrastructure Upgrade

The infrastructure overhaul brings several benefits to individuals within the XRPL ecosystem:

  • Improved stability: The upgraded infrastructure ensures a more stable environment for all participants, reducing the risk of disruptions or downtime.
  • Real-time transaction processing: With enhanced capabilities, the XRPL can process transactions in real-time, enabling quicker and more efficient transfers of digital assets.
  • Connection consistency: The upgraded infrastructure provides a consistent connection experience for users across the entire XRPL ecosystem, promoting a seamless and reliable network.

Overall, these improvements create a flexible and scalable platform within the XRPL ecosystem, where supply and demand can dynamically match each other, resulting in a cost-effective and efficient infrastructure for all users.

Conclusion

Xumm’s announcement of an Infrastructure Overhaul for the XRP Ledger marks a significant milestone in the development of the blockchain industry. By addressing key issues and improving the network’s performance, this upgrade ensures a sustainable and inclusive future for participants within the XRPL ecosystem. The introduction of a new monetization strategy further empowers individual operators and reduces reliance on third parties.

With better stability, real-time transaction processing, and connection consistency, the upgraded infrastructure provides a more efficient and cost-effective platform for all users involved in the XRPL. As the blockchain industry continues to evolve, innovations like these will play a crucial role in shaping the future of decentralized finance.

[Cover image from Unsplash, chart from Tradingview]

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