Ripple, the company behind the current third leading crypto XRP, has introduced a significant network update of its XRP Ledger version 1.2.0, based on an official announcement on Feb. 13.
The XRP ledger is a decentralized cryptographic ledger that stores XRP and is powered by a network of peer-to-peer (P2P) servers.With the release of their Ripple's blockchain upgrade, servers will be able to automatically detect trade censorship attempts and issue warnings of increasing severity for transactions, the announcement says.
The XRP Ledger version 1.2.0 includes numerous network amendments, including MultisignReserve Amendment, fixTakerDryOfferRemoval and fix1578 Amendments.
The MultisignReserve modification is designed to decrease the reserve requirement that's connected with signer lists for Multisign. Launched at June 2016, multi-signing is just one of 3 ways to authorize transactions on XRP Ledger, along with standard keys and master keys.
The multi-signing system makes it possible for users to use a mixture of multiple personal keys, allowing lots of advantages, such as delegating the ability to send trades from an owner's speech to a bunch of individuals. They can then command the speech in the event the first holder is inaccessible or not able to signal a transaction.
According to the recent announcement, XRP Ledger server users should upgrade to the newest version by Feb. 27 in order to guarantee service continuity. People who aren't running the upgrade 1.2.0 or greater have their servers change blocked. This means their servers will not be able to determine the validity of a ledger, to submit or process transactions, or be in a position to participate in the consensus process and vote on potential alterations.
On Jan. 24, Ripple published its Q4 report, asserting that the firm sold $535.56 million worth of XRP in 2018, whilst XRP token sales equates to $129.03 million, which will be equivalent to 0.24% of international XRP volume.
On exactly the same afternoon, crypto analytics company Messari issued a report, also alleging that XRP market capitalization might be overvalued by up to 6 billion, suggesting that the"actual" market cap could be overestimated by 48 percent. At this point, XRP market cap amounts to $12.5 billion, according to data from CoinMarketCap.