XRP Ledger Achieves Over 82 Million Registered Ledgers
The XRP token, which recently saw record-high daily trading volumes on US crypto exchanges, has reached a new milestone within the Ripple ecosystem. The XRP Ledger, a decentralized public blockchain that supports the XRP token, now boasts over 82 million registered ledgers. This achievement highlights the unique consensus algorithm and integration of the XLS-20 protocol within the leading cryptographic ledger.
Rapid Growth and Commitment to Decentralization
In August, the XRPL celebrated locking in 81 million ledgers, and now it has surpassed that number. This rapid growth demonstrates XRPL’s dedication to decentralization, speed, scalability, and security. Collin Brown, a blockchain researcher, shared this exciting news on social media and expressed his belief that XRPL is becoming a formidable competitor to major cryptocurrencies like Bitcoin and Ethereum.
XLS-20 Feature Enhances Crypto Adoption for XRPL
One of XRPL’s standout features is its advanced scalability and decentralization capabilities. However, with the introduction of the XLS-20 feature in 2022, XRPL has become even more influential in the NFT ecosystem. The XLS-20 protocol brings new functionalities to the XRP ledger, including minting and burning options, automated royalties, DEX integration, and traditional NFTs.
Thriving NFT Market on XRPL
The XRPL has seen significant activity in the NFT sector as well. Over 1.9 million NFTs have been minted on the ledger so far, with approximately 30,000 user accounts owning 1.6 million of these NFTs. Additionally, one-step transactions on the blockchain have resulted in around $12.8 million worth of NFT assets being sold. This surge of interest among creators and collectors has propelled XRPL’s growth in the NFT space.
Upgrades to Evernode Smart Contract Platform
In addition to its success in the NFT market, the XRPL ecosystem has announced upcoming upgrades to its layer 2 smart contract platform, Evernode. These upgrades aim to enhance the reliability and sustainability of the platform while further promoting crypto and NFT adoption and innovation.
Hot Take: XRPL’s Continued Rise Positions It as a Strong Competitor
The XRP Ledger’s achievement of over 82 million registered ledgers is a testament to its growth and commitment to decentralization. With its advanced features like XLS-20 and a thriving NFT market, XRPL is emerging as a strong competitor to established cryptocurrencies like Bitcoin and Ethereum. As XRPL continues to make history, it paves the way for increased XRP adoption and solidifies its position as a key player in the crypto industry.
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