Ripple Votes to Support XRPL 3.2.0 Upgrade
Looking to bolster the XRP ecosystem, Ripple has voted to support the inclusion of a new upgrade to the XRP Ledger (XRPL) v3.2.0 called the fixCleanup3_2_0 amendment. The amendment is currently available for a vote on the XRPL mainnet with a current placement of 2.86% of validators.
Ripple’s support for the enhancement is an indicator of the potential benefits this upgrade will provide to the XRPL, with the upgrade improving the efficiency and security of the XRPL along with an improved experience for developers. This amendment works towards the resolution of certain bugs along with the enhancement of infrastructure within the XRPL.
What Does the fixCleanup3_2_0 Amendment Do?
The fixCleanup3_2_0 amendment brings with it a number of improvements, and among them are improvements to:
- Single Asset Vaults
- Lending Protocol
- Permissioned Decentralized Exchange (DEX)
- Multi-Purpose Tokens (MPTs)
- Permissioned Domains
The amendment also does a cleanup of legacy amendments that were enabled more than two years prior. The purpose of this cleanup is to better the XRPL and to help support new uses for the XRPL and tokenization, and decentralized finance (DeFi).
Increased Adoption of the Latest Version of XRPL
The newest version of the XRPL (v3.2.0) is currently being adopted by an increasing number of nodes. The most current data states that:
- 26% of Nodes have already upgraded to version 3.2.0.
- 65% of Nodes are still on version 3.1.3.
- Nodes still on older protocol versions continue operating.
A number of major validators, including Ripple, have completed the upgrade; however, the change has yet to be adopted by the majority of the network.
Requirements for Full Activation
The amendment of fixCleanup3_2_0 will be triggered by fulfilling the conditions of receiving the support of 80% of the default Unique Node List (dUNL) validators for 14 continuous days.
It is strongly recommended that all validators/nodes upgrade. If you delay and the amendment activates, your node will be amendment-blocked and you will not be able to participate fully in the network.
Key Features and Major Changes to XRPL v3.2.0
One major change is that “rippled” has now formally been renamed to “xrpld.”
XRPL Operations has also informed validators that they should remove old software and back up important data before upgrading. Additional data may also be lost.
Major improvements are expected post-upgrade. The improvements will also lead to a reduction of up to 40% of memory use, lower costs for node operators, and enhanced scalability for construction and use cases of payment and tokenization.
Upgrade Momentum Contrasted by Decreased Network Activity
Concerns were raised by some community members over decreased network activity, despite the upgrades continuing positively. Crypto analyst Ali Martinez tweeted that active XRP Ledger addresses have decreased and are now at approximately 25,000 addresses, which is a 50% decrease in the last two weeks.
Most experts in the industry have suggested that temporary reduced network activity should be expected.
The recent XRPL v3.1.3 update also exhibited similar trends, which argue that the recent decline is more likely to be a transition phase as opposed to a weakening of the network fundamentals.
