The year 2021 has been a roller coaster ride for the XRP community and for the makers of the protocol. While the legal brawl has been agonizing for the team. The uniting force of the troop has been brewing the faith and tenacity of the legal team. Whilst the valuation of the digital asset has been facing the wrath of the brawl, the network has been ascending with adoptions, and developments.
Another reason for the community to embrace comes from the XRP Ledger being updated to 1.8.2. That resolves transaction queues and absurd escalation of fees. Wherefore, zealots from the troop are hopeful for a stampede of project influxes on the XRPL.
Is XRP Buckling Up For Its Post Lawsuit Odyssey?
The lawsuit struck XRP has been getting over the grueling implications of the tussle. As the network is now receiving interest from individuals and institutions. The XRP Ledger has now received an update to 1.8.2 from 1.8.1. That resolves the transaction queue and absurd fee escalation. The transaction fees on the XRP Ledger now stand at 0.00001 XRP.
The XRP ledger hosts numerous projects which have been performing astoundingly well.
Earlier the space has seen the Republic of Palau turning to Ripple to explore USD-backed stablecoin. And associated use cases on the XRPL, which could provide a viable alternative to CBDCs for countries like Palau. The update would empower more such countries like Palau to look towards XRPL who are considering an option.
XRPL’s Bag Of Utility?
Two of the interesting projects based on XRP Ledger are Ledger City and XAppps. Ledger city is an immersive 3D experience, where buildings will correspond to accounts. Bigger accounts translate to larger buildings. The project hosts from the villa’s to skyscrapers, each of which can be customized by the account holder using NFT collectible subsystems.
XApps is a project that represents small web apps that leverage XUMM to deliver a better end-user experience. The project hosts numerous XApps in beta currently. The aim of the team is to enable anyone to build their own XApps. A bonus project comes from the metaverse sector, which is “Xflokiverse”, built on XRPL and has been escalating to newer milestones since inception.
Collectively, we can expect more impetus coming to the platform’s utilitarian front with the update to the XRP Ledger. Which could persuade more projects to be built on the platform. A major catalyst would be the settlement of the legal tussle, which marked a year’s milestone the previous day. Regulatory clarity holds immense potential for digital asset.