Ripple announced earlier today about the availability of The DepositAuth and fix1513 amendments. This was followed by the new Rippled version 0.90.1 upgrade a few weeks ago which made it a compulsion for all the Rippled server users to upgrade to it immediately for the service continuity.
The DepositAuth Amendment lets an account strictly reject any incoming money transactions sent by other accounts while the fix1513 fixes the calculation switchover implementation issue in the fee escalation queue. The announcements were made official on Ripple’s website today requesting the users to upgrade to it immediately.
What happens if you don’t?
Operating an older server (below 0.90.0) will result in an amendment blocked server which:
- Cannot determine the validity of a ledger
- Cannot submit or process transactions
- Does not participate in the consensus process
- Does not vote on future amendments
- Could reply to potentially invalid data
Although using the 0.90.0 version server is not amendment blocked but still requires to be upgraded to the higher version for some important security fixes otherwise, the Rippled version may abruptly stop or restart.
Ripple has been constantly in news for their relentless efforts on the development and maintenance of technology, huge partnerships and many other things in store. Like every other trader’s concern, the prices have not been steady for Ripple [XRP].
The current trading value for XRP is $0.48 and the market cap which was almost around $23 billion earlier this month and has fallen down to $19 billion as seen at press time.
According to some unconfirmed sources, Ripple is expected to work Apple, a big techie worth 900 million. Neither Apple nor Ripple have officially announced this news.
Alexa Richmond, an XRP trader says:
“Not long before Ripple integrates with Amazon, Google, and Alibaba. The next step is xRapid then Booom! Conquer Alibaba before Tron does which they obviously will.”
Marc De Roon, a blogger and YouTuber tweeted:
“Great news like so many since we saw ATH but the price is still dumped until cryptos are unpaired, they will all drop together regardless of the good news.”
Mohammed Sharaiyra, a market enthusiast says:
“I keep repeating myself; this will NEVER affect XRP price unless money is poured into XRP itself. All these announcements talks about IOV (internet of value), banking solutions and all the big deals will only benefit Ripple Company! not XRP “coin” public investors!!!”
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Ripple’s initiative invests in Bolt Labs to improve secondary payment channels and expand interoperability
Ripple’s arm, Xpring which invests and incubates in companies and individuals which help improve the XRP ecosystem, invested in Bolt Labs. With the new investment, Xpring hopes to develop solutions that will help improve the security of secondary payment channels and increase the interoperability by integrating with the ILP.
Bolt is a private, off-chain scaling solution which was built on top of Z-cash, a privacy-focused cryptocurrency, has attracted more than a few well-known investors in the crypto-space and Ripple’s Xpring is one among them. In a blog, Bolt Labs said that their solution will focus not only on ZCash but also other publicly available cryptocurrencies that do not have inherent on-chain privacy features.
It also stated:
“The potential for these implementations to be networked together with technologies like Interledger opens the potential further for cross-chain interactions with these privacy guarantees baked in.”
The above statement suggests that they might have a “potential” implementation for these on Interledger Protocol [ILP]. ILP was created at Ripple developed by the Interledger W3C Community Group. ILP aims at connecting two different blockchains, to integrate two different ledgers and have seamless operations between them.
This would vastly benefit the payments industry, which is facing a revolution at the hands of a nascent technology like blockchain. Ripple, a payments provider, which is leveraging cryptocurrency and blockchain to facilitate faster payments, would benefit largely from this partnership. In addition, this could also signify a potential development on the XRP Ledger and its on-chain/off-chain privacy and the currency, XRP.
A Twitter user @XRPCentre tweeted:
“If the solutions being developed by the company are able to improve the privacy of the ILP transactions, they would also be enhancing the privacy of XRP/ILP payments, which is a very demanded feature…. It’s all about interoperability and destroying network effects. If ILP succeeds in being the best protocol for cross-protocol/ledger transactions, you’d naturally search for the best asset therein.”
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