Dev Wietse Wind Launches ‘X-Address;’ Removing The Use Of Destination Tags For XRP Transactions


The XRP community is slowly recovering towards the $0.40 USD mark citing the developments seen in both the top custodian, Ripple Inc. and the XRP ecosystem in general. The XRP community has long faced a validators’ problem and has since escalated to challenge the decentralization aspect of the network. Despite the challenges the community is facing at the moment, the community has developed a minor solution making tipping and incentives to the network’s validators easier.

Transacting on the XRP network is usually a tricky affair as it requires both the wallet address and the destination tag instead of the conventional receiver’s address only on other blockchains. The double “address” problem increases the risks involved in transacting, especially for naïve users. The solution provided by Wiese Wind, solves a critical problem in the network as there have been a few instances of users losing their funds.

Wietse Wind Launches The “X-address” Format

“The new 𝗫-address format aims to replace the use of a separate destination tag when sending funds to a multi-user wallet the XRP ledger, like those of exchanges and custodial services.” – Xrpaddress website.

In an announcement on their official page, the well-known TipBot creator, Wietse Wind, launched the “X-address” – a combined address that includes the destination tag. The current network does not require a destination tag when sending XRP to your own address – which starts with an “r” – and will not change in the new system.

However, when sending tokens to an exchange or wallet you will require a destination tag. The new addresses will start with an X showing the incorporation of the destination tag to the receiver’s address and it looks like this:

XVH3aqvbYGhRhrD1FYSzGooNuxdzbEyND6EG8Ecsjo5Yqr8

Image

The XPRL Deposit Page: Users can now use only one address to transact XRP to exchnages and wallets (Twitter/ @@WietseWind)

The new improvements made on the XRP will reduce or totally omit mistakes related with destination tags. The format will take some time before platforms take it up but it will be worth the wait as it ensures a safer transaction system for the users.

Recently, the XRP TipBot, developed by Wietse Wind released a statement on its ambitions to become a bank and is looking to obtain a banking license soon.

Ripple (XRP) Live Price

1 XRP/USD =$0.2464 change ~ 2.46%

Coin Market Cap

$10.67 Billion

24 Hour Volume

$186.84 Million

24 Hour VWAP

$0

24 Hour Change

$0.01

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