MEXCNew XRP Ledger Software Update 2.5.0 Goes Live
Highlights
- XRP Ledger welcomes a new software update offering a range of network capabilities.
- Software update 2.5.0 introduces token escrow for RLUSD and batch transaction functionality.
- The network received upgrades as it seeks to compete with Ethereum and Solana.
A new XRP Ledger software update has gone live, ushering in a wide range of network functionalities. Dubbed Software Update 2.5.0, the upgrade brings XRPL one step closer to challenging Ethereum and Solana’s dominance.
XRP Ledger Gets New Functionalities Following Software Update
The XRP Ledger has undergone a series of improvements in recent weeks, but this new software update introduces seismic changes to the network. XRPL’s software update 2.5.0 is live, and the official release notes on GitHub confirm major fixes and improvements.
Firstly, the update introduces batch transactions to the XRPL — a long-awaited feature by the community. This new batch transaction functionality opens up institutional use cases by supporting mass payments and token distribution for enterprise users.
Furthermore, the update brings token escrow capabilities to XRPL for RLUSD and other assets on the network. Combined with batching, token escrow offers an efficient vesting and payout system while allowing dApps to manage user deposits effectively.
Other new functionalities include permissioned DEX and permission delegation capabilities. The update also introduces a range of bug fixes affecting RPC responses for tem codes and NFT interactions with trustlines.
“In addition, a lot of helpful fixes and improvements to make the XRPL software run better, more efficient, and stable than before,” said Vet, an XRPL validator.
Back in May, RippleX senior software engineer Mayukha Vadari revealed that the software update version 2.5.0 will challenge Ethereum and Solana.
Network Records Impressive Metrics
XRPL is recording a slew of positive metrics amid the buzz surrounding the new software upgrade. Leading up to the update, daily addresses soared by 7x, while whale wallets on the XRP Ledger set a new record.
This surge comes amid declining network metrics for Ethereum and Solana. Solana’s meme coin activity took a major hit, losing dominance to BNB Chain, while $2.5 billion in capital exited the network.
On the flip side, XRP’s ecosystem is a hive of activity, with CME Group describing XRP as its most-watched crypto asset. Furthermore, XRPL has racked up an impressive streak of integrations, forming partnerships with Uphold and Ondo Finance. Following the upgrade, XRP has gained nearly 6%, trading at $2.20 and erasing losses from Sunday’s crypto market crash.
- Toobit Introduces Multi-Million Dollar Shield Fund to Protect Traders Against Platform Incidents
- $1.7 Trillion T. Rowe Price Files for First U.S. Spot Shiba Inu ETF, Boosting SHIB’s Adoption
- XRP News: Key Ripple Whale Indicator Turns Bullish After 4 Months, Price Rally Ahead?
- Pi Network Dedicates 350,000 Active Nodes for AI With OpenMind Partnership
- Breaking: Trump Cuts Tariffs as US-China Reaches 1-Year Trade Deal, Bitcoin Rebounds
- Fidelity Amends S-1 for Solana ETF: Is SOL Price Set to Rally?
- Pi Coin Price Targets $0.65 as ISO 20022 Membership Boosts Institutional Confidence
- Ethereum Price Flips BTC in Strategy Shift, Eyes $4500 Level
- Expert Predicts XRP Price to Hit $10 as Elliot Wave, XRPR ETF Inflows Align
- HYPE Price Prediction as 21Shares Files S-1 for Hyperliquid ETF—Can Bulls Push HYPE to $60?
- Bitcoin Price Rally Bound? How the Fed’s Move May Unleash Crypto
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
