• XRP Ledger, an open-source, decentralized, and permissionless network, recently received a new proposed amendment for implementation on the ledger.
• Denis Angeli is the contributor and proposer of the recent amendment tagged with the code XLS-34d.
• The proposed amendment would allow the use of Trustline balances on Escrows and PayChannels, as well as enable issuers to retain authorization control of their assets.
The XRP Ledger is a revolutionary decentralized, open-source, and permissionless network that facilitates payments-related applications such as DeFi, micropayments, and even Non-Fungible Tokens (NFTs). Its native token, XRP, has seen meteoric growth and is now among the most popular cryptocurrencies on the market. Recently, the XRP Ledger has received a new proposed amendment for implementation on the ledger.
The contributor and proposer of the recent amendment is Denis Angeli, who has tagged it with the code XLS-34d. The details of the proposal suggest changes to the structural facilities of the XRPL ecosystem. Angeli believes that such adjustments will improve the capabilities and functionalities of non-XRP native XRPL assets.
If implemented, the amendment would change the XRP ledger transactions, objects, and even Remote Procedure Call (RPC) methods. In addition, it would allow the use of Trustline balances on Escrows and PayChannels. The XRP Ledger supports different on-ledger negotiable instruments such as Checks, Escrows, and PayChannels. Currently, Escrows and PayChannels are only available for the native XRP assets. However, with the proposed changes, escrow accounts would include all assets developed on the XRP ecosystem.
This would enable project teams to lock their tokens in a Trustline balance and monitor the token supply. Furthermore, the amendment would allow token issuers to retain authorization control of their assets. They would also be able to control the transaction fees associated with the use of their tokens on the ledger.
The proposed amendment is likely to be welcomed by the crypto community, as it would open up more opportunities for developers to create innovative products on the XRP Ledger. This could lead to a surge in the adoption and usage of XRP, making it one of the most popular digital assets in the market.
Overall, XLS-34d is an important proposed amendment that could have far-reaching implications for the XRP Ledger and its native token XRP. If implemented, it could open up new possibilities for developers to create innovative products on the network, leading to more widespread adoption of XRP. It will be interesting to see how the crypto community responds to this proposal in the coming days.