Ripple CTO David Schwartz: A new XRP Ledger (XRPL) upgrade will be a game changer
According to Ripple chief technology officer David Schwartz, the new XRP Ledger (XRPL) upgrade will be a game-changer. And the upgrade, which can currently be used in testnets but is not yet available as a modification to the XRP Ledger protocol, will make it easier to enable various validators.
A new XRP Ledger (XRPL) upgrade will be a game-changer
Each server in XRPL has a “unique node list” (UNL) containing its validators list. The new upgrade will consider validators that can be offline or malfunctioning due to hardware maintenance, internet crashes, attacks, or external circumstances like natural disasters.
According to the XRPL website:
“The ‘Negative UNL’ is a list of trusted validators that are believed to be offline or malfunctioning, as declared by a consensus of the remaining validators. Validators in the Negative UNL are ignored for determining if a new ledger version has attained a consensus.”
If you think there’s anything I can do that I’m not doing, please let me know. It’s just hard for me to engage with something so awful.
— David Schwartz (@JoelKatz) November 1, 2020
Schwartz says the upgrade, which can currently be used in test networks but is not yet available as a modification to the XRP Ledger protocol, will make it easier to enable more diverse validators.
“When choosing a validator, performance is not the only criterion. Jurisdiction, institutional commitment, network redundancy, commitment to the network, and many other factors have to go into that. The biggest advantage of the negative UNL proposal is that it will make it much easier to say ‘yes’ to more diverse validators, even if they are running on a single residential connection with a tiny machine in someone’s living room.”
The answer to that is connected to the negative UNL proposal. When choosing a validator, performance is not the only criterion. Jurisdiction, institutional commitment, network redundancy, commitment to the network, and many other factors have to go into that. 1/2
— David Schwartz (@JoelKatz) November 2, 2020
Ripple’s CTO emphasizes that negative UNLs can also enhance XRPL’s decentralization:
“It significantly reduces the risks associated with adding more validators, allowing us to improve decentralization without risking liveness.”
Ripple buyers continue to defend October lows
XRP fell beneath the symmetrical triangle pattern at the end of October and headed toward the 100-days EMA. It found support at the 200-days EMA but fell below it yesterday. Despite this, XRP remained supported at $0.228.
A break beneath this level is likely to send XRP on a downward spiral toward $0.2. On the other side, the coin would need to break resistance at $0.26 to be able to turn bullish.
Looking ahead, if the sellers head beneath $0.235, the first level of support lies at $0.228 (0.618 FIb). Beneath this, support lies at $0.22, $0.215, and $0.21. On the other side, if the buyers push back above the 200-days EMA, the first level of resistance lies at the 100-days EMA and the falling trend line. Following this, resistance lies at $0.251 and $0.251.
The Stochastic RSI is in extremely oversold territory and is primed for a bullish crossover signal that should send the market higher. Additionally, the RSI recently rebounded from near oversold territory, which suggests the bearish momentum is stalling.
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