Reaching 88 million ledgers is a new record for the decentralised public blockchain that runs the XRP cryptocurrency, called XRP Ledger (XRPL). This accomplishment shows how XRP Ledger’s impact in the blockchain community is growing.
XRP Ledger Services reports that there are 88,165,021 ledgers as of right now. There are 5,199,695 accounts on the XRP Ledger at the moment. These accounts have a total of 60,278,958,763 XRP, with the exception of a pitiful 2022 with zero XRP balances.
A consensus protocol is used by XRPL to guarantee performance. Validators, which are open-access servers with certain functions, agree on the sequence and result of XRP transactions every three to five seconds. In the context of the XRPL, a ledger is an immutable record of account balances and transactions that is kept up to date and verified by a dispersed network of nodes.
More than just a numerical achievement, surpassing 88 million ledgers signifies the expanding acceptance and use of XRPL. The ledger’s expansion, with more than five million accounts and more than 60 billion XRP overall, may be a sign of user trust.
According to Ripple’s Q1, 2024, XRP Markets Report, XRP Ledger made progress in Q1 of last year. Average transaction prices decreased by 45% while on-chain transactions on XRP Ledger increased by 108%.
With the XLS-30’s live launch on the XRP Ledger Mainnet in the previous quarter, the XRPL’s decentralised exchange gained a noncustodial automated market maker (AMM) as a natural feature. Together with the XRPL’s AMM function, which debuted on the XRPL Mainnet, auto-bridging, a DEX feature that leverages XRP as the native currency to facilitate transactions between any two assets on the XRPL, functions.
As XRPL expands its applications and assets and as AMM usage grows, auto-bridging will play a bigger role in enhancing the functionality and interoperability of the ecosystem.
