The XRP Ledger is moving through another important update process, and this one is not only about adding new features. Version 3.2.0 is now in development, according to XRPL validator Vet, who said the update is meant to further strengthen the foundation that XRP runs on.
The upcoming XRP Ledger update is less about short-term price hype and more about what it says about the network’s direction, following the recent activation of version 3.1.3 in early May.
XRP Ledger Version 3.2.0 Is Coming
XRP Ledger version 3.1.3 is now active, and attention has now moved to what comes next for the network. Hussein Zangana, Director of Community at the XRP Ledger Foundation, known on X as Vet, confirmed that version 3.2.0 is currently in development, describing it as an update to further strengthen the foundation on which the XRP Ledger is built.
Related Reading
According to Vet, update 3.2.0 is in development to further strengthen the foundation XRP is living on. He specifically mentioned AI-powered red team and blue team work, alongside attackathons and bug bounties, saying these efforts have delivered strong results. Update 3.2.0 may not be the update that introduces the loudest feature, but it appears to be part of the work needed to make the ledger safer for deeper financial activity.
Speaking of updates that introduce features, the incoming upgrade follows the May 8 release of XRP Ledger version 3.1.3. According to the official XRPL blog, version 3.1.3 introduced the fixCleanup3_1_3 amendment, which included fixes for NFTs, Permissioned Domains, Vaults, and the Lending Protocol. The release set the default vote to Yes because of the importance of the fixes.
That update is important because it came soon after version 3.1.0 introduced Single Asset Vaults and the Lending Protocol in January. The official XRPL release notes described Single Asset Vaults as pools of a single asset for use with the Lending Protocol, which is a system that allows fixed-term, uncollateralized loans using pooled funds from those vaults.
How The New Update Affects XRP Holders
There’s currently no timeline as to when version 3.2.0 will be released, but the update should be viewed as an infrastructure update that might not really have an effect on the price action. Still, these updates affect the long-term holder case in major ways. For one, an ecosystem with steady major updates shows an active community, which in turn can support confidence around XRP’s price action over time.
Related Reading
Version 3.1.3 has already shown that XRPL developers are cleaning up the newer parts of the protocol, especially around NFTs, Vaults, Permissioned Domains, and Lending. Version 3.2.0 now appears to push that work further by strengthening the foundation of the XRP Ledger.
Featured image from Freepik, chart from Tradingview.com
Credit: Source link
