Ripple Announces New Release to Support Advanced NFT Functionality: Details

u.todayPublished on 2022-04-08Last updated on 2022-04-08

Abstract

Ripple has announced the release of XRP Ledger version 1.9.0. The release, Version 1.

Ripple has announced the release of XRP Ledger version 1.9.0. The release, Version 1.9.0 of rippled, introduces a new amendment to the XRP Ledger protocol to support non-fungible tokens (NFTs) natively on the XRP Ledger (per the XLS-20 draft standard).
Today's release also improves caching and has a catch (see what I did there?). 1/6 https://t.co/EisorI2tD6
— 𝙳𝚊𝚟𝚒𝚍 𝚂𝚌𝚑𝚠𝚊𝚛𝚝𝚣 (@JoelKatz) April 7, 2022
According to the release notes, this amendment is now open for voting according to the XRP Ledger's amendment process, which enables protocol changes following two weeks of more than 80% support from trusted validators.
If successfully passed, this might permit advanced NFT functionality as developers can now create applications that allow users to mint, transfer and ultimately burn (if desired) NFTs on the XRP Ledger.
Ripple's CTO, David Schwartz, spoke about the latest release: ''Ripple validators will (for now) veto bringing XLS-20 to mainnet until we feel confident in NFTs impact on XRPL. In the meantime, we're conducting performance testing and plan to share our results with the broader community.''
He explained further: ''Ripple has long been a responsible participant in the XRPL community, and while we're excited to contribute to NFT technology on the XRP Ledger, we're also committed to its stability and scalability. As such, today's release includes a number of performance improvements, and the ultimate outcome of XLS-20 will be up to the collective XRPL community.''
NBA legend Michael Jordan NFTs to debut on XRPL
Rare Air Media, the company behind Michael Jordan's graphic autobiography For the Love of the Game, is getting into NFTs.
The company is collaborating with VSA Partners, Ripple's Creator Fund's primary creative agency partner, to launch NFTs on the XRPL, including a one-of-a-kind collection of digital assets dedicated to former NBA player Michael Jordan's life and career.
The first batch of NFTs is expected to be available in Q2, 2022, and will comprise an intimate selection of original, momentous photos of Michael Jordan, as well as his thoughts and observations leading up to the photo.
From celebrities like Snoop Dogg and Paris Hilton to professional athletes like LeBron James, and major brands including Disney and the Grammys, the media and entertainment space has been among the earliest adopters of NFT technology.

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XRP 2.0: A New Frontier in the Cryptocurrency Landscape Introduction to XRP 2.0 In the ever-evolving realm of cryptocurrency, new projects continuously emerge, vying for attention and adoption. One such promising initiative is XRP 2.0, a novel cryptocurrency project designed to leverage advanced blockchain technology and robust encryption methodologies. While the name draws parallels with Ripple’s XRP, it’s crucial to note that XRP 2.0 operates independently, focusing on enhancing transaction security, privacy, and scalability. As the digital financial landscape increasingly embraces decentralized solutions, XRP 2.0 aims to contribute meaningfully to web3 and the overall expansion of crypto projects. What is XRP 2.0? At its core, XRP 2.0 is a cryptocurrency project that aims to create a secure and decentralized digital currency ecosystem. Its foundational technology integrates sophisticated blockchain principles with cutting-edge encryption techniques. The overarching goal of XRP 2.0 is to establish itself as a reliable and efficient platform enabling swift transaction execution while prioritizing enhanced privacy protections for its users. The project is promoted as a solution to many limitations faced by existing cryptocurrencies, proposing a system that can handle a higher volume of transactions with improved speed and privacy. This versatility positions XRP 2.0 as a significant contender in a marketplace riddled with various digital currencies. Who is the Creator of XRP 2.0? The identity of the creator behind XRP 2.0 has been flagged as ‘Wilbur.’ However, comprehensive details regarding Wilbur or their associated entity remain elusive. The anonymity of many cryptocurrency creators is not an uncommon phenomenon in the industry, often designed to maintain a degree of privacy and security. Who are the Investors of XRP 2.0? As of now, specific information related to the investment foundations or organizations supporting XRP 2.0 is not publicly available. In the cryptocurrency sector, the backing by reputed investors can significantly influence a project's credibility and success, yet the transparency regarding the financial supporters of XRP 2.0 has not been established. How Does XRP 2.0 Work? XRP 2.0 stands out by employing a combination of blockchain technology and advanced encryption algorithms that ensures secure and decentralized transactions. Its innovative structure includes unique features designed to foster user engagement and broaden functionalities beyond conventional cryptocurrency transactions. Among these features, XRP 2.0 incorporates AI-powered capabilities, such as text-to-image and text-to-speech functionalities. These additions are designed to enhance the interactive experience for users, promoting broader applicability across various sectors. By bridging technological advancements with user-centered design, XRP 2.0 aims to capture the attention of a diverse range of individuals and enterprises looking to integrate cryptocurrency solutions into their operational frameworks. Timeline of XRP 2.0 Understanding XRP 2.0 requires examining the milestones that have defined its journey thus far: July 23, 2023: XRP 2.0 is introduced as a novel cryptocurrency project, aiming to revolutionize secure and decentralized transaction capabilities in the blockchain domain. September 8, 2023: The launching of another project, XRP20, occurs, marking the emergence of an ERC-20 token on the Ethereum blockchain that remains unrelated to XRP 2.0. November 13, 2023: The XRP Ledger undergoes a significant update with the release of rippled server software version 2.0.0. It is essential to note that this development is disconnected from the XRP 2.0 cryptocurrency project. 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What is XRP 2.0

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