The “fixReducedOffersV1” amendment is now in a two-week activation countdown phase and has gained approval from over 80% of validators. This amendment signals a significant improvement for XRPL.
The XRP Ledger (XRPL) is set to introduce additional features in the coming weeks. According to XRPScan, users who rely on rippled v1.11.0 or earlier are recommended to update their systems. The implementation of fixReducedOffersV1, which addresses critical issues with DEX offers, requires achieving updates greater than 80% in 14 days.
Among the amendments introduced in the XRPL v1.12.0 update, fixReducedOffersV1 stands out as the only amendment that guarantees an 80% consensus, starting a two-week activation countdown. FixReducedOffersV1 aims to minimize the prevalence of order books obscured by reduced offers, improving the overall functionality of XRPL.
The XRPL amendment allows protocol modifications backed by over 80% validator support within two weeks. This recent development requires an update to the latest version of XRPL to continue participating as a node provider or in other protocol-specific roles.
From the buyer's perspective, this amendment can round out the exchange rate of a reduced offer on XRPL. decentralized exchanges (DEX) to make it more favorable than the original offer. In such cases, other bids that match the original bid may consume the reduced bid.
Conversely, the lack of these modifications would result in a bid with minimal remaining quantities having significantly unfavorable exchange rates after rounding compared to its original value. Over time, this prevents accepting more favorable requests, creating substantial challenges for decentralized brokerage platforms trading on XRPL.
Related: Ripple CTO Seeks Community Consensus for Adoption of XRPL AMM Feature
In September, XRPL version 1.12.0 was released. thrown out, introducing notable features like fixReducedOffersV1. The update included bug fixes and modifications related to the Automated Market Maker (AMM) and recovery function. Users were required to update to the latest version by September 20 to avoid disruptions. Additionally, the XRPL upgrade was identified as a requirement to participate in the voting process for new amendments such as XLS-30.
XRPL has seen notable internal and external improvements, contributing to its overall positive outlook. The successful completion of the latest security audit for the Xahau sidechain bodes well for XRPL's prospects.
Magazine: Recursive Inscriptions: Bitcoin and BTC DeFi 'Supercomputer' Coming Soon
Post navigation
Previous Post
Bitfinex Pulse
