Sign Up on MEXCXRP Ledger (XRPL) Clawback Amendment Goes Live on Mainnet
Highlights
- The XRP Ledger Clawback update now live on the mainnet
- The feature will enable retrieving funds from protocols with perceived security breaches
- More amendments are billed to go live on the XRP Ledger in due course
XRP Ledger (XRPL) amendment known as Clawback is now live on the protocol’s mainnet after it was enabled on February 8, 2024.
Clawback V1.12.0 Now Live
According to data from XRPScan, version 1.12.0 of the Clawback amendment went live earlier today after it received about 94.3% votes in its favor. Precisely, the proposal which was supposed to have a voting threshold of at least 28 ‘Yes’ before it could be considered, ended up registering 33 favorable votes. Only two validators voted against the XRPL Clawback amendment.
The percentage of votes in favor of the proposal suggests that the respondents are confident of the capacity and upgrade that the amendment will bring to the XRP ecosystem. When the Clawback feature first surpassed its voting threshold last month, the XRP community reacted positively to the milestone.
Unlike other features that were introduced in the past, Clawback is a crucial enhancement to the XRPL’s token asset management tools. For context, this feature makes it possible for developers to exercise their authority to reverse token transactions in some particular scenarios.
An example of such a scenario is in cases of fraud, or to assist in account recovery for users who have lost access to their credentials.
More Amendments on the XRP Ledger
Meanwhile, the Clawback feature complements the existing Freeze feature of the XRP Ledger, which permits issuers to immobilize assets in response to malicious activities. By doing this, it allows for further fortification of the XRPL’s security framework. In addition, the Clawback amendments functionality is governed by a Trustline flag, which must be activated by users before they can be granted access to the important assets.
In the last few months, the Clawback feature is only one out of the numerous amendments that have been introduced on the XRP Ledger. In August 2023, XRPcafe, an NFT marketplace deeply embedded in Ripple’s XRP Ledger ecosystem hinted at the release of up to five amendments.
With this, the amendment called “DisallowIncoming amendment” was listed amongst others. Disallowincoming was described as a feature that now has a significant impact on the XRPL’s functionality. This amendment comes with an additional layer of control for account holders, allowing them to more effectively manage and regulate their incoming transactions.
There is also the fixNonFungibleTokensV1_2 amendment, the fixTrustLinesToSelf amendment, the fixUniversalNumber amendment, and the ImmediateOfferKilled amendment, all of which are aimed at the improvement of the XRP Ledger.
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