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Breaking News: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans

XRP Ledger Developer Xumm Reveals “Infrastructure Overhaul,” More Than An Upgrade?

Reynaldo Marquez
Reynaldo Marquez
1 year ago
2 mins read
Ripple XRP XRPUSDT

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The company behind the XRP Ledger crypto wallet, Xumm, unveiled its plans to launch an “Infrastructure Overhaul” for the network. The company claims the upgrade will push the XRPL to the next level. According to an official announcement shared with Bitcoinist:

This isn’t just a technical upgrade; it’s a strategic move to reshape the very foundation of the XRPL, ensuring a sustainable, efficient, and inclusive future for all participants.

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XRP Ledger Upgrade Goes Beyond? Implications For The Network

Xumm believes the XRP Ledger has an “advanced” infrastructure, but they aim to address some key issues impacting “flexibility” and performance. The company believes that with its present capabilities, the network has difficulty processing transactions and fetching historical data.

In the long run, these issues could affect the ledger’s capacity to onboard new users and use cases. Xumm’s new update is set to improve the ledger’s capacity to avoid bottlenecks while enhancing local node connections and “ensuring” access to real-time data.

As seen in the image below, the infrastructure upgrade will allow entities operating on the ledger to filter out transactions, avoid scam accounts, reduce network fees, and improve scalability. The company decided to donate the upgrade via software to the XRPL Foundation.

Wietse Wind, founder and CEO of XRPL Labs, stated:

This is, without a doubt, the most monumental upgrade to the XRPL infrastructure since its inception, marking a pivotal moment in our pursuit of a healthier, sustainable XRP Ledger.

XRP XRPUSDT Ripple
XRPL Update and its potential to improve the ecosystem. Source: Xumm

New Rewards For XRPL Users, The Airbnb Network

In addition to improving the XRPL’s infrastructure and ecosystem, Xumm wants to introduce a new monetization strategy to reward node operators. In that sense, the company claims to have “rebuilt the XRPL Cluster Software” to encourage users to stop relying on third parties.

This change will put more financial pressure on major platforms, such as non-fungible tokens or crypto trading platforms, rather than on the small individuals operating on the ledger. The company added:

In this ecosystem, quality hardware will be monitored, and users can plug in their node to the cluster, receiving queries from nearby sources. Those contributing resources will earn the lion’s share of the billing from larger consumers. It’s akin to an “Airbnb for XRPL infrastructure.”

Some of the benefits of this infrastructure update include:

  • Better stability.
  • Guarantee real-time transaction processing.
  • Connection Consistency across the ecosystem.

Overall, individuals will benefit from these improvements. Xumm concluded:

This development ensures a flexible in-ecosystem platform where supply and demand can dynamically be matched. Keeping public infra flexible, scalable, and cheap.

Related Reading

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Major Milestones Shows XRP Ledger Is Becoming A DeFi Force To Be Reckoned With

1 year ago

XRP trades at $0.5 with sideways movement across small timeframes as of this writing.

XRP XRPUSDT Chart 2
XRP’s price has been moving sideways over the past few days on the daily chart. Source: XRPUSDT on Tradingview

Cover image from Unsplash, chart from Tradingview

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Reynaldo Marquez
Reynaldo Marquez

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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