XRP Ledger Upgrade Brings Five New Features for Validator Approval

The XRP Ledger is set to undergo a major upgrade next week, bringing five new protocol amendments for validator approval. The xrpld 3.3.0 release includes changes that add new features and proposals previously withdrawn due to security concerns.

Jazzi Cooper, Head of Product for RippleX, explained that the update will comprise Confidential MPT, Batch, Permission Delegation, Sponsored Fees and Reserves, and Dynamic MPT amendments. These require passage through the governance process of the XRP Ledger to be implemented on the ledger.

The two resubmitted amendments, Batch and Permission Delegation, had previously been withdrawn due to security vulnerabilities. The Batch amendment allows eight transactions from various accounts to either all go through or fail, while the Permission Delegation amendment enables one account to pay transaction fees for another.

The new features aim to improve privacy and payments on the XRP Ledger. Confidential MPT provides confidentiality through zero-knowledge proofs and encryption, Sponsored Fees and Reserves enable banks or other platforms to pay fees and reserve requirements in XRP on behalf of users, and Dynamic MPT allows token issuers to change certain settings without creating a new token.

An amendment will be enabled only after it has been approved by 80% of trusted validators during two weeks in a row. Although the forthcoming update introduces useful functionality, there is no guarantee of its approval.