"Memory 10~15% Savings"...XRP Ledger, v3.3.0 Update's Decisive Move

▲ XRP/AI-generated image

Ripple has unveiled a major XRP Ledger upgrade targeting institutional investors.

According to cryptocurrency media outlet Coingape on August 7 (local time), Ripple and XRP Ledger Operations announced the v3.3.0 upgrade for xrpld, the reference server software that powers the XRP Ledger (XRPL). This upgrade includes six key enhancements that strengthen privacy, payment efficiency, operational control, and asset management capabilities, and is part of Ripple's latest roadmap to place tokenized real-world assets (RWAs) at the center of its institutional strategy.

Jazzi Cooper, Head of Product at RippleX, confirmed that this upgrade supports the transfer, trading, collateralization, and settlement of global tokenized assets. Vijay Khanna, Director of Engineering at Ripple, called it "a big update for the XRP Ledger," explaining that the upgrade has been in preparation for a long time, undergoing multiple tests, attack competitions, and AI scans. Node operators were advised to immediately upgrade to the new version for service continuity, and applying v3.3.0 to the XRP Ledger mainnet requires over 80% validator support over two weeks.

The six enhancements put to a vote in this v3.3.0 upgrade are Confidential Transfer, BatchV1_1, DynamicMPT, PermissionDelegationV1_1, Sponsor, and fixCleanup3_3_0. These enhancements respectively support encrypted Multi-Purpose Token (MPT) balances and transfers, atomic execution capable of processing up to 8 transactions at once, a mechanism for specific accounts to cover fees and deposits, the ability to delegate specific transaction permissions to other accounts, and the ability for issuers to modify MPT properties. The upgrade also includes a bundle of bug fixes and performance and stability improvements, further reducing memory usage by an additional 10-15% since the previous v3.2.0 upgrade.

J. Ayo Akinyele, Head of Engineering at RippleX, stated that once approved, this upgrade will continue to expand the XRP Ledger's capabilities for tokenized assets and real-world financial use cases. Vet, a contributor to the XRP Ledger Foundation, described v3.3.0 as a "significant update," featuring the XRP Ledger's first privacy enhancements, trustless swaps, institutional OTC trading, and application monetization capabilities. Mayukha Vadari, Senior Software Engineer at Ripple, also revealed other changes, including improved online deletion performance, 60 bug fixes discovered by an AI red team, and optimizations to make xrpld maintenance easier.

Meanwhile, the price of XRP fell by over 2% in 24 hours as the Senate postponed the vote on the crypto market structure bill to September. XRP is currently trading at $1.02, with a 24-hour range of $1.02-$1.05, and trading volume increased by 17%. However, Coinglass data showed significant buying pressure in the derivatives market. XRP futures open interest increased by over 0.67% in one hour and 1.02% in 24 hours, reaching $2.35 billion. Major exchanges such as Binance, OKX, Bybit, and Gate also saw large-scale buying in the last hour, with open interest increasing by 0.61% on Binance and 2% on OKX. Although Grayscale's GDLC ETF is increasing its XRP allocation and institutional investor interest is growing, crypto analysts still maintain a bearish outlook, setting a target price for XRP at $0.9.

[Article Key Summary]

-Ripple and XRP Ledger Operations announced the v3.3.0 upgrade, which includes six enhancements to strengthen privacy and payment efficiency.

-Mainnet application requires over 80% validator support for two weeks, and memory usage will be reduced by 10-15%.

-XRP fell by over 2% due to the postponement of the crypto market structure bill vote, but buying pressure was detected as futures open interest increased to $2.35 billion.

*Disclaimer: This article is for investment reference only and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*