XRP Soars on BIS Study, Ethereum Nears Golden Cross as Tron TVL Hits $28 Billion
The XRP Ledger saw a significant jump of about 3% in response to a recent study by the Bank for International Settlements (BIS), which placed XRPL in an uncommon institutional use case. The BIS released Working Paper No. 1374, 'Blockchain-based approach for verifiable official statistics,' on September 2.
The system created and tested by researchers records a summary value on the XRP Ledger and generates cryptographic fingerprints of official datasets. However, neither banking nor economic datasets were stored on XRPL in the experiment; instead, the system anchored the resultant value to the ledger after hashing individual datasets and merging them when needed.
The prototype operated on the XRPL Devnet, with verification times of one to two seconds and publication latency of approximately three to five seconds reportedly produced by tests. This distinction is important as it is a technical proof of concept rather than an adoption or partnership announcement.