XRPL Upgrade is imminent but this time, in relation to NFT

XRPL Upgrade is imminent but this time, in relation to NFT

XRPScan has confirmed that a new XRPL upgrade is imminent as the “fixNFTokenRemint” amendment has reached the required number of votes, pushing it into the 14-day activation countdown period.

XRPL Upgrade: the “fixNFTokenRemint” Amendment

fixNFTokenRemint was listed alongside other known amendments on the XRP Ledger. Added to the list was their status on the production of XRPL. Some known amendments on the list are Automated Market Maker (AMM), Clawback, XRPFees, and 53 others.

This fixNFTokenRemint is geared towards the action of Non-fungible Tokens (NFTs). It alters the way NFT sequence numbers are constructed to prevent a situation of recurring minting of NFT which has initially been minted, with the same sequence number, thereby creating a possible collision scenario.

In addition to this functionality, the amendment comes with a new account deletion restriction feature.

Passing the fixNFTokenRemint was important as it will henceforth prevent the minting of an NFT with the same sequence number. This amendment will address the NFT reminting challenge in two ways, creating a new “AccountRoot” field and “FirstNFTSequence” that stays constant over time. Additionally, the XRPL upgrade will now permit the developers to “Compute the sequence of a newly minted NFT as FirstNFTSequence + MintedNFTokens (after which, MintedNFTokens increments by 1).”

Despite the breakthrough with fixReducedOffersV1 and fixNFTokenRemint, the AMM and Clawback upgrades are still open for voting.

Giving the XRPL a Facelift

Two days ago, it was announced that fixReducedOffersV1 entered a 2-week activation countdown period and this was after it successfully secured support from over 80% of validators. Seeing that the amendment was bound to come with new functionalities, users of the rippled v1.11.0 and below were asked to upgrade immediately to the latest version.

For reference, the fixReducedOffersV1 amendment “adjusts rounding to prevent order books from being blocked by reduced offers whose exchange rate is affected by rounding of the remaining amounts.”

The XRPL has been undergoing intense upgrades and facelifts in the past few months as the developers seek to push new functionalities to benefit more community members. Besides the core XRPL products, protocols like the Xahau Sidechain are also making impressive headway to go live on the mainnet now that its security audit is completed.

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Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter, Linkedin

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