Home Blockchain Ripple’s XRP Ledger Surpasses 82 Million Ledgers, Boosts NFT Growth With XLS-20 By Investing.com

Ripple’s XRP Ledger Surpasses 82 Million Ledgers, Boosts NFT Growth With XLS-20 By Investing.com

by Melai Briones

The XRP Ledger (XRPL) reached a significant milestone on September 22, 2023, surpassing 82 million closed ledgers. This achievement follows the previous record of 81 million ledgers in August, highlighting the XRPL’s dedication to decentralization, speed, scalability, and security.

Blockchain researcher Collin Brown shared this accomplishment through his social media platform, emphasizing the XRPL’s historical significance. Brown stated, “With over 82 million ledgers successfully closed, the XRPL continues to make history. The XRPL’s growth in NFTs positions it as a strong competitor to Ethereum, paving the way for increased XRP adoption!”

The integration of the XLS-20 protocol has played a crucial role in XRPL’s recent growth. Introduced less than a year ago, the XLS-20 feature revolutionized the XRPL by enabling the use of native non-fungible tokens (NFTs). This functionality allows for seamless creation, holding, and trading of NFTs within XRPL accounts. It also facilitates automated royalties, simplifying royalty management, and efficient minting and burning of NFTs.

Thanks to XLS-20, the NFT space within the XRPL ecosystem has seen exponential growth. More than 1.9 million NFTs have been minted since the feature’s inception. Currently, close to 30,000 accounts possess 1.6 million NFTs. Additionally, over 1.2 million NFTs have been transferred or sold, with a remarkable $12.8 million worth of NFTs transacted in single-step deals. These impressive figures solidify XRPL’s potential as a formidable competitor to Ethereum in the NFT realm.

Furthermore, XRPL is reportedly planning upgrades to its layer 2 smart contract platform, Evernode. These enhancements aim to improve the platform’s reliability and sustainability, promoting further crypto and NFT adoption and innovation.

In other encouraging news, the XRP token achieved an all-time high in daily trading volumes for cryptocurrency exchanges in the United States this week. As Ripple continues to make progress, particularly in the booming NFT sector, speculation rises regarding whether these remarkable achievements can propel XRP’s price to reach the coveted $1 mark.

Note: This article was generated with the support of AI and reviewed by an editor. For more information, please refer to our terms and conditions.

You may also like

@2023 – All Right Reserved. Developed by Crypto Explorers