What Changes In The Proposed New XRP Ledger Amendment?

Key Points:

• Contributor Denis Angell has proposed a new modification with the code XLS-34d for use on the XRP Ledger.
• The amendment expands possibilities for using native assets in XRPL payment channels in addition to escrow alternatives.

Contributor Denis Angell has proposed a new modification with the code XLS-34d for use on the XRP Ledger.

The proposal’s text states that it entails altering the ecosystem’s structural facilities in order to improve the capabilities of XRPL assets that are not native to XRP.

Why is XLS-34d problematic?

The innovation would, in particular, enable the use of escrow accounts for all assets created on the network. In other words, a project team would be able to control the supply of tokens by locking them in a Trustline balance. Also intriguingly, even when tokens are locked within instruments, the modification should allow token issuers to maintain authorization and freeze control over their issued tokens.

The amendment expands possibilities for using native assets in XRPL payment channels in addition to escrow alternatives. The efficiency of the XRP Ledger has not gone unnoticed by the authors, who claim that XLS-34d should lessen computing load and minimize needless entity multiplication.

The change has only recently been suggested, so there is still a long way to go before it is put into effect. However, the XRP community has already given it favorable press. Two individuals in particular have offered their support: Wietse Wind, the principal creator of the Xumm Wallet, and Scott Chamberlain, co-founder of Evernode XRPL.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.

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