XRP’s X-address format gained a new adopter after FixedFloat exchange announced its support for XRP’s new X-address format that is free from destination tags and wallet address hassles. FixedFloat is an exchange that deals with almost instant conversion of digital assets with ease and also facilitates transfers using the Lightning Network.
XRP community members faced an issue with Coinbase and other exchanges due to “lost XRP,” a few months ago. The reason behind this drama was confusion between a destination tag and a wallet address, leading to a loss of funds. Wietse Wind had then taken to Twitter to explain how the funds weren’t actually lost. Learning from its peers’ mistakes, Poloniex added destination tags to avoid confusion and escalating the mishap.
The ensuing confusion and “lost funds” led to the conception of an idea – X-address format. The X-address format was conceived by Nik Bougalis, Ripple’s C++ team Lead, and developed with the help of Wietse Wind, Elliot Lee, and Nicholas Dudfield.
The X-address format replaces the use of a separate address and destination tag with a single address starting with ‘X’. The official website allows one to encode and decode the standard XRP wallet address into a new format.
Although there hasn’t been an official announcement from FixedFloat exchange, its platform supports the new X-address format.
Speaking to AMBCrypto about the adoption news, Wietse Wind, Creator of the X-address library, said,
“It is great to see platforms and companies improving XRPL integration by adopting new XRP address.”
Further, Wind mentioned that apart from exchange adoption of the new address, he had already made this feature available on XRParrot, XRPTipBot, and others, and that he was “passively pushing for its adoption.”
Wind also added that Ripple supported the X-address format by adding it to official ripple-lib.