XRP Ledger, one of the most in-demand networks, continues to evolve, offering new opportunities for users and developers. The latest XRP update, Version 2.4.0, is not a hard fork, but it brings significant changes to the network’s development. This version includes support for dynamic NFTs, enhanced security measures, expanded transaction capabilities, and various bug fixes. Let’s take a closer look at what this update brings!
New Features in XRP Ledger 2.4.0
Dynamic NFTs (XLS-46)
One of the key innovations in Version 2.4.0 is the introduction of dynamic NFTs. Unlike traditional NFTs, whose metadata remains unchanged, dynamic tokens allow updates to the URI containing information about the digital asset. This feature opens new possibilities for creating more engaging NFT projects.
How It Can Be Used:
- Game items that change properties based on a player’s achievements.
- Collectible NFTs that can be updated with new images or data.
- Tokens with variable parameters, such as changing value or access conditions.
Deep Asset Freezing (XLS-77)
Issuers can now block asset transfers for specific users. This feature helps meet regulatory requirements and prevents illegal transactions involving digital assets.
Liquidity Pool Protection from Frozen Assets
To prevent liquidity issues, a new rule prohibits LP token transfers if the liquidity pool contains even one frozen asset. This improvement is especially important for decentralized exchanges (DEXs) operating with liquidity pools.
Transaction Flag Verification
The update also introduces flag verification for the CredentialCreate, CredentialAccept, and CredentialDelete transactions. This prevents potential errors and enhances network security.
Improvements for Developers and Users
Transaction Simulation
A new transaction simulation mode allows developers to test transactions without actually executing them. This provides the ability to preview results and avoid errors before submitting transactions to the network.
Enhanced UNL Security
An important update affects the UNL (Unique Node List). Participants can now set a minimum number of validators required for consensus. This strengthens network resilience and reduces the risk of centralized control.
Optimized Data Search
Support for filtering blockchain objects by type has been added, making API interactions more convenient and speeding up data retrieval.
Advanced Logging
New detailed logging mechanisms allow recording every step of the validation and proposal process in the network. This significantly simplifies error diagnostics and blockchain performance analysis.
Bug Fixes
Version 2.4.0 resolves several critical issues, improving the network’s stability:
- Fixed double fee deduction issue during transactions.
- Resolved compilation errors on Windows when using Visual Studio 2022.
- Updated validator voting algorithms, ensuring proper display.
- Revised documentation and configuration settings for better developer usability.
Additional Improvements
Besides the major changes, this update also includes:
- Enhanced code development and testing processes.
- Optimized compilation processes, improving network performance.
- Updated developer guidelines, simplifying the process of making code modifications.
- Stronger logging controls, improving network activity analysis.
Conclusion
The XRP Ledger Version 2.4.0 update is not a hard fork. However, it significantly expands the network’s functionality, making it more flexible, secure, and user-friendly for both users and developers. Support for dynamic NFTs, new security mechanisms, and improved transaction testing tools ensure the stable development of the system and its compliance with modern requirements. To Know about Update more you can check official documentation. But if you want to connect to XRP Nodes, you can do it NOW:
