The XRP Ripple (XRP) Ledger’s origins could be traced back to 2012, when Arthur Britto, David Schwartz, and Ryan Fugger 1st developed it. The XRP Ripple (XRP) Ledger has undergone a number of updates and enhancements throughout time to increase its utility and security.
Now, reports by the latest announcements by XRPScan, an XRP Ripple (XRP) Legder explorer and network analysis platform, the XRP Ripple (XRP) Legder has hit a noteworthy milestone.
XRP Ripple (XRP) Ledger Closed 80 Million Ledgers in 10.5 Years
Reports by XRPScan, the XRP Ripple (XRP) Ledger has achieved the milestone of closing 80 Million ledgers over a span of around 10.5 years. In the context of blockchain tech, a ledger signifies a record of transactions within the network. This accomplishment outlines the efficiency, dependability, and growing acceptance of the XRP Ripple (XRP) Ledger as a transaction processing technology within the Ripple network.
In September 2019, the XRP Ripple (XRP) Ledger achieved a milestone of 50 Million ledgers, and it took slightly over a year to add an extra 10 million.
This pace of growth outlines the expanding acceptance and utilization of the XRP Ripple (XRP) Ledger, demonstrating the increasing capacity of the Ripple network to handle a whole lot of volume of transactions.
Nevertheless, alongside the understanding for its swiftness and cost-effectiveness, the XRP Ripple (XRP) Ledger has encountered criticism regarding its level of centralization. Although while it is technically a decentralized network, the close association betwixt the XRP Ripple (XRP) Ledger and Ripple Labs, coupled with the substantial amount of XRP Ripple (XRP) held by the company, has led some to argue that the ledger exhibits more centralization compared to other blockchain tech systems.
The monumental milestone achievement likewise comes at a time when the ongoing lawsuit betwixt Ripple and the SEC is poised to come to a conclusion soon. With the community anticipating that the SEC will likely lose the battle, it can potentially be another magnificent victory for Ripple if the lawsuit concludes positively for them.