Ripple Releases the Latest XRP Ledger Version 1.2.0

Ripple Releases the Latest XRP Ledger Version 1.2.0

Ripple has now announced the release of XRP ledger’s latest version that is 1.2.0. This new version, according to the official announcement, introduces the MultisignReserve Amendment that will reduce the reserve requirement associated with signer lists for Multisign.

MultiSignReserve Amendment “reduces the owner reserve counted against your XRP Ledger account when it owns a multi-signing SignerList. Without this amendment, the owner reserve for a SignerList ranges from 15 to 50 XRP, depending on the number of signers in the list. With this amendment enabled, the owner reserve for a new SignerList is 5 XRP, regardless of the number of signers.”

Furthermore, the version 1.2.0 also includes incremental improvements to the “code that handles offers in the decentralized exchange,” that is fixTakerDryOfferRemoval and fix1578 Amendments.

In the former amendment, a bug in auto-bridging that can leave a dry offer in the XRP Ledger is fixed. A dry offer is an offer that, if crossed, cannot yield any funds.

Upgrade the Latest Version by Feb 27

Further talking about the benefit of censorship resistance in decentralized blockchain technologies, it shares, “Already highly resistant to censorship attempts, with the release of version 1.2.0 of the XRP Ledger, servers now have the ability to automatically detect transaction censorship attempts and issue warnings of increasing severity for transactions that a server believes should have been included in a closed ledger after several rounds of consensus.”

With the release of the “XRP Ledger (rippled) version 1.2.0,” if you operate an XRP Ledger server, according to the announcement, you should upgrade your version by February 27 in order to ensure service continuity.

On the failure to upgrade to the latest version means your servicer cannot determine the validity of a ledger, submit or process transactions, participate in the consensus process, and vote on future amendments. It also faces the risk of relying on potentially invalid data.

In another event, Ripple’s ecosystem initiative to support blockchain companies, Xspring has invested in XRP Tip Bot developer Wietse Wind’s XRPL labs. The decision was taken due to “His creative approach, leadership, and ability to engage developers were key differentiators in our decision to invest.”

On the price front, the 3rd largest cryptocurrency has been trading at $0.304 with 24-hours loss of 1.51 percent, at press time.

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Ripple Releases the Latest XRP Ledger Version 1.2.0
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Ripple Releases the Latest XRP Ledger Version 1.2.0
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Ripple has now announced the release of XRP ledger’s latest version that is 1.2.0. This new version, according to the official announcement, introduces the MultisignReserve Amendment that will reduce the reserve requirement associated with signer lists for Multisign.
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Anjali Tyagi 440 Articles

Having a background in writing, I worked on a wide array of industry topics and have recently entered the world of Blockchain and Cryptocurrency.

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