Ripple XRP Ledger Version 1.1.0 (Rippled) Releases Amid Future Regulation
Ripple has been in the media during the last months for the latest developments on its products, but also due to regulatory uncertainty on whether XRP should be considered a security or not.
The company has been working in order to be far away from XRP, however that does not seem to be an easy task.
To avoid problems with the U.S. Securities and Exchange Commission (SEC), Ripple has taken the decision to introduce the XRP Ledger v. 1.1.0. The new version includes new features such as the DepositPreAuth Amendment. This allows users to whitelist sender addresses and pre-authorize incoming transactions. About that, Ripple wrote:
“XRP Ledger version 1.1.0 release also includes incremental improvements to several previously released features (fjx1515 Amendment), deprecates support for the sign and sign for commands from the rippled API and improves invariant checking for enhanced security.”
Moreover, the company has asked server operators to upgrade to XRP Ledger v. 1.1.0 by September 27. Those users that are not able to upgrade to the new version will become ‘amendment blocked.’ That means that they would not be able to determine the validity of a ledger. Additionally, they would not be able to vote on future amendments and participations in the consensus process.
Furthermore, the company is also working in order to start the commercial application of a new crypto-focused product. As per Sagar Sarbhai, head of regulatory relations for Asia-Pacific and the Middle East at Ripple, in some months, the company could be releasing these products.
Additionally, during an interview with CNBC, he explained that the company had a very positive reception of the xRapid product, which is helping banks process faster transactions using the XRP cryptocurrency.
At the moment of writing, XRP has surged almost 17%. Each XRP coin can be bought for $0.323194 and it has a market capitalization of $12.87 billion dollars.