Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
A temporary technical glitch in the XRP Ledger network has postponed the activation of the fixCleanup3_4_0 amendment package until November. Strict decentralized security algorithms automatically reset the two-week waiting timer because of a one-minute desynchronization of validating nodes.
The entire cycle has been restarted from scratch, and the amendment will now take effect on November 4 at 14:46 UTC.
What went wrong (and why it's good news)
The XRPL network is governed by 35 main servers (validators). Strict conditions apply to adopting any changes: at least 29 of the 35 validators must vote continuously for the update for 14 consecutive days, and the automatic vote check runs every 15 minutes.
The amendment package was on the home stretch, but during another routine check a brief glitch occurred: several servers momentarily lost connection, causing the number of votes to drop to 26. The nodes recovered immediately, and the project is now steadily approved by 31 of the 35 participants.
However, because of the temporary break in the chain, the timer was reset. Developers are taking this calmly: the strict filters guarantee that the network would rather wait than accept code amid an unstable connection.
The update itself is not related to hacker attacks or breaches. This bug-fix amendment is a planned closure of theoretical vulnerabilities in the new protocols:
Issuance control: An account with a token-burning function (PaymentBurn) could, under rare conditions, bypass the code logic and launch the issuance of new assets. The loophole has been completely eliminated.
Foundation for DeFi and lending: The patch improves the rounding precision of numbers for deposits into future native vaults (Single Asset Vaults) and changes the logic of loan defaults: a delinquency is now recorded strictly after the deadline has passed.
Code optimization: Bugs in the operation of AMM (erroneous burning of LP tokens at a zero refund balance), NFTs, and escrow accounts have been fixed.
For ordinary XRP holders, the postponement changes nothing. Balances, transaction speed, and fees remain the same.
Institutional players also ignored the hiccup. Amid news that Franklin Templeton continues to buy up millions of XRP for its ETF clients, the token's price is steadily holding around $1.35. Large capital is satisfied with the uncompromising strictness of XRPL's automation.
Arman Shirinyan
Dan Burgin
