Ripple has just announced that they are launching their new version of the XRP Ledger, it is Version 1.2.0.
The changes coming to the platform are minor but have still some kind of adaptation procedures for the users. The biggest change is arguably the MultiSign Reserve Amendment.
According to Ripple, a previous version of the XRP Ledger required a user to have at least 10-15 XRP in order to be a transaction signer. However, now the Multisign requirements have lowered and as little as 5 XRP will be enough.
According to the announcement, Ripple will be seriously cracking down on shady transactions. Meaning that any type of transaction that will be subject to censorship attempts will be immediately declined.
Every XRP Ledger server will be required to update to the new version or else completely lose their functionality, hence the outdated software will render the Ledger useless. The deadline is February 27th.
A weaker XRP
XRP has been suffering some serious price issues over the last few months. No little amount of controversy has also been the reason for their decline, but most of it should come from the changing sentiment with the investors.
One of the most notable events covered by Espaciobit happened when Coinmotion accused XRP of being a Centralized cryptocurrency. This did quite a number on the price back then. However, Ripple’s as a company’s actions have been strengthening the currency and still helping it remain most of the users’ daily banking driver.
In all honesty, however, the criticism that Coinmotion had for XRP was justified.
As they mentioned, when you’re buying XRP it’s like buying stock in Ripple, meaning that there are way more problems that the cryptocurrency may face if the management system makes a mistake or their subsidiary falls short for a quarter or a month.
A power move or just an update?
Under all of this pressure, the whole updated version of their XRP Ledger could be directed to their attempt at retaining customers, or just making the adoption of new ones easier.
If the XRP Ledger does indeed lower the requirement to 5 XRP only, the transactions will only cost users no more than $1.5, which is something everybody desperately craves in the ever-growing commissions in the crypto sphere.
It is likely that, after this update is made, many investors will convert their funds to XRP and save it on the local Ledger.
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