Ripple Announces XRP Ledger 1.2.0 for Improved Censorship Resistance
Originally published on: CoinSpeaker
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February 14, 2019
A well-known all over the world blockchain company Ripple is constantly open for innovations and ready for improvements in order to enhance its user experience and expand the range of offerings available at the moment.
Now it has been revealed that this blockchain payments infrastructure firm launched an upgrade to their XRP Ledger and users who are running the XRP Ledger server need to update it till the XRP Ledger 1.2.0 version.
The upgrade should be done before February 27, 2019. If some participants do not manage to upgrade the ledger, the server will not have an opportunity to determine the validity of a ledger and it won’t be able to submit or process transactions.
Censorship: What’s New
In their statement, the team explained what they had improved and how it could be useful for their customers. According to Ripple, the version 1.2.0 of the ledger includes a number of changes.
First of all, now the network is to become more resistant to censorship. It means that there is no such an entity that has a right to decide which transactions succeed or fail. And consequently, nobody has an opportunity to change or edit a transaction after it has been added to the ledger.
Though the company claims that their previous version of the XRP Ledger already was highly resistant to censorship attempts, now the ledger will become even more powerful in this aspect.
The servers will be able to detect automatically the cases when somebody will try to interfere in the network. Having detected any transaction censorship attempts, a server will issue warnings.
What’s more, the upgrade introduces a so-called MultiSignReserve amendment. The company has decided to reduce the barriers for the participants of the network for being involved in signing of transactions.
If earlier owners of signer lists for authorization method Multisign could participate with a reserve of 15–50 XRP, now according to the MultiSignReserve amendment it is allowed to have a reserve of just 5 XRP.
The release also presupposes introduction of a list of some other smaller updates and amendments and minor bug fixes. For example, the company has removed some unused features and improved error indicators on two transactions.
Ripple has also announced its bug bounty program and invites developers to review their updates and promises rewards for those who will detect any vulnerabilities or errors.
Let us also remind that just recently it has become known one of the world’s major payments providers, Western Union, has decided to test solutions offered by Ripple for its settlements services.
Western Union also continues to test Ripple’s suite of payment solutions including its xRapid product that utilizes the digital asset XRP for facilitation of transactions.
*To learn more about XRP coin, Ripple company, and their innovative solutions, please check out our awesome guide.