Coinspeaker
RippleX Announces Plans to Reset XRP Ledger Testnet
RippleX has announced plans to reset the XRP Ledger (XRPL) Testnet on August 19, 2024, at 3:00 AM EST. The blockchain-based payment company revealed that the reset will take about 15 minutes and will improve the performance and efficiency of the testnet node while reducing its operational cost.
The team revealed that the reset is meant to create a more reliable and functional testing ground for developers and users. They promised to inform community members of the improved system once it is completed. Their official X page stated that the testnet may not be available for users during this reset period.
Preparing the Community for Testnet Resets
RippleX further revealed that they are carrying out different long-term solutions to strengthen the testnet while also ensuring that the community is prepared. These solutions include limiting access to the usage of testnet XRP to prevent network congestion. Additional security measures to protect the testnet from possible disruption and threat will also be included. More so, the team will set up a routine for future testnet resets.
We are also exploring long-term solutions to enhance the resilience of the Testnet and ensure the community is prepared, including:
– Limiting access to Testnet XRP to mitigate network stress
– Adding additional safeguards to protect the Testnet
– Establishing a regular schedule…— RippleX (@RippleXDev) August 5, 2024
The developers encouraged their community members to build and manage more testnets to support various development needs.
Expanding the XRPL Ecosystem with EVM and Tokenized Assets
RippleX revealed its plans to add the Ethereum Virtual Machine (EVM) to the XRPL. This could help the decentralized finance (DeFi) sector and allow the creation of digital versions of real-world assets.
To do this, RippleX has teamed up with Axelar, which will provide interoperability for the XRPL EVM sidechain. It has also collaborated with Archax to help add important digital assets to the XRPL.
RippleX continues to encourage new testnets while also making efforts to stabilize the network. They have been able to add new features like Oracles and Multi-Party Computation (MPC); these additions are expected to improve transaction speed and XRPL’s security.
Ripple also recently improved the usage of its XRP Ledger by partnering with OpenEden, a company that deals with tokenizing real-world assets. The collaboration will allow XRPL to start offering tokenized US Treasury bills (T-bills). It is poised to drive short-term US government debt to the XRPL and possibly gain the attention of large institutional investors.
Thus, the growing activity of XRPL, such as the partnership with OpenEden and the increase in micropayment transactions, shows RippleX’s effort in improving its network’s performance. This could also increase XRPL adoption rate by developers and large institutions.
