Ripple Developers To Offer Native NFT Support To XRPL, Propose XLS-20 In Q1, 2022
According to xSPECTAR, an XRPL Validator, the XLS 20 proposal that would enable native NFT support on XRPL might soon go live.
As U.Today reports, on October 18, Ripple’s Vice President of Corporate Strategy and Operations, Amy Yoshikawa, announced the start of a two-week countdown on XLS 20, with at least 80% of validators voting in favor. Is. Regarding the proposal to implement it.
The XLS-20 proposal for native NFTs on XRPL seeks to make the creation of NFTs compact and efficient, minimizing any negative effects on the performance of XRP Ledger and preventing congestion at scale. With built-in functions like minting and auctioning, XLS-20 aims to simplify the creation process for developers significantly.
XLS 20: The Journey So Far
Ripple developers proposed XLS-20 in Q1, 2022 to introduce native NFT support to XRPL and give developers access to NFT minting, trading and burning functions. Without the use of smart contracts, the XLS-20 will include state-of-the-art features such as automatic royalties, co-ownership of assets, and more.
The XRP Ledger (XRPL) protocol saw an amendment in Rippled version 1.9.4 to prevent a potential denial-of-service attack against non-fungible token (NFT) issuers. Soon after, Ripple set up its four validators to support XRPL Mainnet’s activation of the XLS-20 amendment.
Version 1.9.4 of Ripple introduced a new modification to the XRP Ledger (XRPL) protocol to mitigate potential denial-of-service attacks against non-fungible token (NFT) issuers. Soon after, Ripple configured four of its validators to vote in favor of activating the XLS-20 amendment on the XRPL mainnet.
Although Ripple favors XLS-20, the decision to enable XLS-20 rests with all XRPL validators. With over 80% of validators voting in favor of the amendment so far, the community expects it to take effect this quarter.
