Developers working on XRP Ledger have agreed on major changes to XRPL in response to the blockchain’s recent rise in popularity.
According to developer WietseWind on social media platform X, XRPL Labs changed its validator configuration last month to reduce fees and reserve requirements in anticipation of increased on-chain activity.
“There have been several threads about reserves and fees on XRPL.
On behalf of XRPL Labs, I have just modified the configuration of our validator, to be able to enable the next restart of the validator.
According to the developer, the adjustments aim to reduce barriers for new users, including a significant reduction in reserve requirements.
Since December 2, the reserve requirements for XRPL users have been reduced from 20 to 1 XRP.
According to Vet, pseudonymous developer of XRPL, the move freed up a surplus of XRP for traders.
“XRP Ledger reserves just dropped!
Activating an XRP account now costs 1 XRP
Hold a Token Trustline Only 0.2 XRP
The excess XRP is now released into your account and you can spend it now!!
Developers say the changes will make it more affordable for users to participate in the XRP Ledger ecosystem, thereby expanding the blockchain’s user base.
Ripple CTO David Schwartz also asked validators to upgrade to version 2.3.0 of Rippled, the reference server implementation of the XRP Ledger.
The move comes at a time when the value of XRP has surged to $2.65, its highest level since 2018. XRP is worth $2.51 at the time of writing, up 82% from there a week ago.
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