XRP Ledger breaks record: 93M ledgers and beyond

• The XRP Ledger has surpassed 93 million closed ledgers, highlighting its resilience and efficiency since its launch in 2012.
• As it approaches 100 million ledgers, developments like native smart contracts and the Ripple USD stablecoin signify its growing influence in digital finance.

What happened: XRP Ledger achieves 93M ledgers

The XRP Ledger (XRPL) has achieved a significant milestone, surpassing 93 million ledgers successfully closed, according to XRP Ledger services, a popular explorer for the network. This figure stands at 93,009,637 and underscores the network’s resilience, efficiency, and expanding use.

Initially launched in 2012, the XRP Ledger offers cross-currency and cross-border payments, with core value propositions including fast and cheap transactions, native functions for tokens, NFTs, a decentralized exchange (DEX), escrow functionality, embedded compliance, and token management. The community and developers are now focusing on enhancing scalability, interoperability, and other features as they eye the 100 million-ledger mark.

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Why it is important

The surpassing of 93 million ledgers on the XRP Ledger is not just a numerical achievement; it symbolises the maturation and robustness of a network that has been operational for over a decade. This milestone is a testament to the XRP Ledger’s ability to handle a vast number of transactions, which is crucial in an era where digital transactions and blockchain technology are becoming increasingly central to global finance.

The push towards 100 million ledgers, along with developments like the introduction of native smart contracts and a native lending protocol, positions XRPL as a competitive player in the blockchain space. These advancements have the potential to attract more developers and users, expanding the ecosystem and increasing the utility of the XRP token.

Moreover, the launch of Ripple USD stablecoin (RLUSD) on both XRPL and Ethereum, and the significant growth in NFT minting using the XLS-20 standard, indicate a diversification and expansion of the XRPL’s use cases. For tech-curious readers, these developments are not just updates from the cryptocurrency world; they represent the ongoing evolution of financial technology and the potential for new ways to conduct transactions, create digital assets, and engage in decentralized finance.

The XRP Ledger’s growth and innovation directly impact the broader crypto market and could influence the future of digital payments and DeFi platforms, making it a story of interest to anyone watching the tech and finance sectors converge.