Cryptocurrency

XRP closes 48 million ledger; XRPL Labs introduces solution for users’ destination tag problem


XRP, the third largest cryptocurrency on CoinMarketCap list, did not undergo radical changes in its price, even though the fluctuating price of Bitcoin [BTC] impacted the prices of most major cryptocurrencies. However, XRP’s performance outside the market proved essential to boosting the momentum of the community.

XRP Scan shared news of XRP ledger crossing 48 million via a tweet. XRPScan tweeted:

“We closed 48 millionth ledger a couple of hours ago”

Source: XRP Scan

The community got another reason to support the team of developers working for XRP as one of their ailing problems regarding destination tags was solved. Ripple’s software engineer, Nik Bougalis suggested to team XRPL Labs a “tagged address” format that can solve issues with destination tags. Bougalis suggested:

“Destination tags are a cool XRP Ledger feature but having to specify two things—an account and a tag—instead one is a pain for users and developers alike.
I am proposing a new “tagged address” format which fixes the shortcomings but keeps all the cool…”

Wietse Wind, one of the developers at XRPL Labs replied to this suggestion, which was implemented. Wind said that since it would be a packed address, it would have destination and destination tag, thus making it easier for the users. While a Twitter user raised questions over its efficiency and slowing down the crypto exchange that would adopt it, Wind said:

“I disagree, I think it will improve adoption, since whatever anyone comes up with: a migration period will be required. This allows exchanges, wallets, etc. to detect the input and automatically take care of the rest. While users slowly get used of there being two valid formats.”

However, the rest of the community appeared to be glad about this solution. As for XRP, at press time, it spiked by 2.53% that took its price to $0.4159 with a market cap of $17.677 billion. The 24-hour trading volume of the coin was reported to be $1.722 billion as it grew by 2.41% in the past seven days but tumbled by 0.14% within the past hour.

The post XRP closes 48 million ledger; XRPL Labs introduces solution for users’ destination tag problem appeared first on AMBCrypto.



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