Breaking: XRP Ledger Eyes New v3.3.0 Upgrade, Ripple Exec Reveals Key Details

The XRP Ledger (XRPL) is heading for its next significant software upgrade, and Head of Product at RippleX, Jazzi Copper, announced five possible amendments for the upcoming xrpld 3.3.0 release. The update is expected to be released next week but the changes will only be enforced once they are approved by the validators.

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XRP Ledger Moves Toward v3.3.0 Upgrade

Copper posted this on X, writing: “XRPL has already proven it can support tokenized assets at scale. Now it’s time to put these assets to use: global transfers, trading, collateralizing, and settling.” She added that the upcoming release “includes five amendments that move XRPL significantly closer to that goal.”

After the XRPL v3.2.0 upgrade, an amendment that was proposed on XRP Ledger is called Confidential MPT. It uses elliptic-curve encryption along with zero-knowledge proofs for native privacy of Multi-Purpose Tokens. Issuers and token holders will be able to keep balances and transfer amounts confidential, while others can check transaction details if needed, she said.

Copper further added that a designated entity like an auditor or the regulator will have access to this information if it is required. She stated, “For financial institutions, privacy is often a prerequisite for using public blockchain infrastructure.”

XRP Ledger’s Batch amendment will allow multiple transactions between various accounts to be processed atomically in a single ledger. It will aid the implementation of sophisticated workflow patterns such as delivery-versus-payment (DvP) and atomic settlement.

Recently, the fix_Cleanup3.2.0 update went live on the network on July 29 with over 85% validator consensus support.

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What Else Will Change?

Meanwhile, Permission Delegation on XRP Ledger will provide institutions with the ability to delegate narrowly scoped transaction permissions without giving up signing authority. This would give treasury teams the ability to authorize operational tasks while maintaining control of issuance keys.

Additionally, a new feature called Sponsored Fees and Reserves would enable banks, issuers, or platforms to pay the fees for XRP transactions and the reserves for accounts on behalf of users.

Copper said, “Users continue to own their accounts and keys, while removing one of the biggest onboarding hurdles: requiring every participant to acquire and manage XRP before they can interact with the network.”

The fifth amendment, Dynamic MPT, would enable the issuers to modify the select token properties on XRP Ledger. These include features such as transfer fees, token metadata, other predefined features after token issuance, without the need for a fresh token issuance.

Copper said: “The release is currently anticipated for next week. As always, these amendments will only activate following validator approval.” She also urged validator operators to go through the amendments which will be available as they come.

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