Ripple introduced a huge upgrade of its XRP Ledger version according to an official announcement made by the company that reached our altcoin news today.
The XRP Ledger is able to store XRP since it is powered by peer-to-peer network services and with this upgrade, all of the servers will be able to automatically detect transaction censorship attempts and is able to issue warnings.
The XRP ledger version 1.2.0 has a couple of amendments including MultisignReserve amendment, fix1578 and fixTakerDryOfferRemoval.
The first amendment aims to reduce the reserve that is associated with signer lists and was first released in 2016. Multi-signing is one way to authorize transactions on XRP ledger. This method makes possible for users to use a combination of private keys which brings a lot of benefits and opens a possibility for the users to control the address if the original holder is unavailable.
The XRP Ledger server should be updated by the end of February somewhere around 27th. Those who will not run the upgrade will have their servers amendment blocked. This means that the servers can’t determine the validity of a ledger and won’t be able to process transactions.
Back in January, Ripple released its Q4 report where it says that the company managed to sell about $535 million worth of XRP last year while the XRP token sales reached $129 million.
In the meantime, the crypto analytics firm Messari wrote a report saying that XRP market cap could potentially be overvalued by at least $6 billion and stating that the actual market cap is probably overestimated by 48 percent.
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