“Introducing New Enhancements: fixReducedOffersV1 and fixNFTokenRemint on XRP Ledger”
XRP Ledger is making significant strides towards implementing new improvements, with the activation of the “fixReducedOffersV1” modification now live on the main network. This update, which requires protocol changes, has been introduced following the support of over 80% of validators, fulfilling the necessary requirement for its implementation.
The “fixReducedOffersV1” modification aims to enhance the approximation of reduced offers, benefiting XRPL users. It is anticipated that this adjustment, currently active on the XRP Ledger, will enhance the efficiency of the order book. By fine-tuning the approximation, “fixReducedOffersV1” prevents the blocking of order books through reduced offers, where the exchange rate is altered by approximating the remaining amounts.
With this modification, the exchange rate of the reduced offer is approximated to be of the same quality as, or better than, the original offer (from the perspective of the offer provider). This enables the consumption of the reduced offer through matching offers of the original full quantities.
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Additionally, the “fixNFTokenRemint” modification, which introduces a new field called FirstNFTSequence to prevent recycling, has obtained majority support and has entered a 14-day countdown period for activation, as previously reported. If over 80% support from validators is achieved within two weeks, this modification may also be activated on the main network.
In the past week, XRP Ledger has received two new proposals: “XLS-49d: Multi-Signatory Lists,” which will enable support for multiple signatory lists per account, and “XLS-51d: NFToken Escrows,” which suggests a minor change to accommodate NFT escrows. This is because the current XRP Ledger only allows escrows for one type of distinguished token: XRP.
According to Bithomp data, the number of NFTs minted on the XRP Ledger has reached 4,693,294, reflecting the growing adoption and usage of this blockchain network.
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