The XRP Ledger (XRPL) has rolled out a powerful new software update version 2.5.0 bringing major improvements to the network. This upgrade marks a big step forward for XRPL, as it aims to compete directly with Ethereum and Solana.
Batch transactions are one of the most awaited features of this update. This means that enterprises will be able to make mass payments and distribute tokens more effectively, which opens real use cases to institutions.
The other significant new feature is token escrow, which enables safe and automated payouts, which are perfect in vesting schedules and dApp deposit management.
The update also adds permissioned decentralized exchange (DEX) and permission delegation, which provide developers greater control and flexibility. Together with these features, version 2.5.0 addresses a number of bugs, particularly those related to NFT trustlines and RPC responses, making the network faster and more stable overall.
Vet, a popular XRPL validator, commended the upgrade as one that made the XRPL faster, efficient, and more reliable. In May, RippleX engineer Mayukha Vadari said this version would assist XRPL in competing with major chains such as Ethereum and Solana, and it is already paying off.
There is a boom in network activity. Daily addresses on XRPL increased 7x and whale wallets reached a new record. Ethereum and Solana experience decelerating activity and capital outflow, whereas XRP is gaining momentum.
The upgrade saw the token rise by almost 6 percent to trade at $2.17 and recover the losses incurred on Sunday. XRPL is still in its infancy with giants such as CME Group, Uphold, and Ondo Finance keeping a keen eye on the project.
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