International Federation of Accountants Suggests Ripple Is Being Considered for Trade Finance by Larger Organizations
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RippleX, Ripple’s open developer platform, has on 24th February 2021 announced the release of the latest version of XRP Ledger.

According to the report, version 1.7.0 comes with improvement to XRPL’s decentralization, security, and efficiency.

Read Also: XRP Labs Launches New Version of XRP-Based XUMM Wallet with Major Improvements and Bug Fixes

The release statement reads in part as follows:

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“As a part of our commitment to the XRP Ledger, RippleX continued to work on improving the use of available system resources and making the software work efficiently on various server configurations.

“Building on previously contributed improvements, a new set of changes has slashed memory usage by 50%. Part of these memory savings came directly from Ripple CTO David Schwartz, who implemented a change that eliminates a layer of caching to further improve memory and execution time.”

Other Optimizations in the New Version of XRP Ledger

According to the report, the new version of XRP Ledger has improved validation and proposal routing, which serves to benefit operators of single servers and large clusters alike, coupled with validator manifests.

“Forward ledger replay” is also one of the new features incorporated with the latest version of XRPL. This is designed to enhance the Ledger’s security and reduce the amount of required bandwidth.

In a nutshell, the new features introduced in this latest release are targeted at improving the performance, innovation, and decentralization of the XRP Ledger.

Read Also: David Schwartz Says XRP Community Could Force Ripple To Burn Its Over 50 Billion XRP

Reacting to the new development, Bharath Chari, a member of XRP Ledger Foundation, said:

 “Enhancements, such as today’s improvements to memory usage, are key to growth and innovation on the Ledger. We look forward to supporting the wider ecosystem, including the superb code development by the RippleX team. Testament to this will be our focus on producing an evolving list of validators and enhancing the core code and infrastructure behind the XRP Ledger.”

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Solomon Odunayo

By Solomon Odunayo

Solomon Odunayo is an accomplished blockchain and cryptocurrency expert at Herald Sheets, known for his in-depth analysis and engaging articles that cater to both beginners and experienced readers. With a degree in Computer Science from the University of Lagos, Solomon leverages his technical background and keen understanding of the crypto space to provide readers with valuable insights and up-to-date news. His passion for innovation and commitment to staying current with industry developments make him a trusted voice in the digital currency community.