XRP Ledger reaches major milestone, surpassing 88 million ledgers

XRP Ledger reaches major milestone, surpassing 88 million ledgers

XRP Ledger (XRPL), the decentralized public blockchain that powers the XRP cryptocurrency, has set a new milestone by surpassing 88 million ledgers. This milestone demonstrates the growing influence of XRP Ledger in the blockchain world.

XRP Ledger (XRPL), the decentralized public blockchain that powers the XRP cryptocurrency, has set a new milestone by surpassing 88 million ledgers. This milestone demonstrates the growing influence of XRP Ledger in the blockchain world.

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According XRP Ledger Services, the current ledger count is 88,165,021. The XRP Ledger account count is currently 5,199,695. Except for a meager 2022 with zero XRP balances, these accounts hold a total of 60,278,958,763 XRP.

To ensure performance, XRPL employs a consensus protocol. Every three to five seconds, designated servers known as validators that anyone can operate reach a consensus on the order and outcome of XRP transactions. A ledger in the context of XRPL is an immutable record of transactions and account balances that is maintained and validated by a distributed network of nodes.

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Mon, 01/04/2024 – 15:28
XRP Ledger Reaches Historic Milestone of 87 Million Ledgers: Details

Exceeding 88 million accounting books is more than a simple numerical milestone; represents the growing popularity and usage of XRPL. With over five million accounts and a total of over 60 billion XRP, the growth of the ledger could indicate user trust.

The XRP Ledger saw gains in the previous quarter, Q1, as detailed in Ripple’s Q1 2024 XRP Markets Report; On-chain transactions on XRP Ledger increased by 108%, while average transaction costs decreased by 45%.

In the previous quarter, the XLS-30 went live on the XRP Ledger Mainnet, introducing a non-custodial automated market maker (AMM) as a native feature of the XRPL decentralized exchange. Auto-Bridging, a DEX feature that uses XRP as the native currency to facilitate transactions between any two assets on XRPL, works in conjunction with XRPL’s AMM feature, which was launched on the XRPL Mainnet.

As XRPL adds assets and applications and the use of AMM develops, automatic bridging will become increasingly important to improve the functionality and interoperability of the ecosystem.

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