Ethereum

Bank

2024

Value

RippleX, the development arm of the blockchain-based digital payment protocol Ripple Labs, has made a significant announcement for XRP Ledger (XRPL) developers. On August 19, 2024, the company plans to reset the XRPL testnet. As announced in a <a href="https://x.com/RippleXDev/status/1820497455542321212">post</a>, this reset is expected to take around 15 minutes, during which the testnet might be temporarily unavailable.&nbsp; 
<h2 id="b-reasons-behind-the-testnet-reset-b">Reasons Behind the Testnet Reset</h2> 
The main objective of this reset is to improve the general stability of the testnet and lower the operational expenses linked to operating a testnet node. This is essential for upholding a strong and effective testing environment for developers working on the XRPL. 
<blockquote class="twitter-tweet"> 
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;">Attention <a href="https://twitter.com/hashtag/XRPL?src=hash&amp;ref_src=twsrc%5Etfw">#XRPL</a> Developers: we’re planning a Testnet reset on August 19, 2024, starting at 3:00am EST. The reset will take approximately 15 minutes, during which the Testnet may be unavailable. 
 Resets improve the Testnet stability and reduce the cost of running a Testnet… 
 — RippleX (@RippleXDev) <a href="https://twitter.com/RippleXDev/status/1820497455542321212?ref_src=twsrc%5Etfw">August 5, 2024</a>
</blockquote> 
In addition to the planned reset, RippleX is also investigating long-term approaches to strengthen the resilience of the testnet. These approaches are designed to guarantee the stability and dependability of the testnet, offering a reliable testing environment for the community. 
Meanwhile, RippleX is committed to keeping the developer community informed and prepared for any changes or updates that may impact their work on the XRPL. 
<h2 id="b-ripple-s-cto-defends-the-xrp-ledger-value-b">Ripple’s CTO Defends the XRP Ledger Value</h2> 
Recall that David Schwartz, Ripple’s Chief Technology Officer (CTO), recently <a href="https://thecoinrise.com/ripple-cto-emphasizes-on-xrpls-value/">defended the XRP Ledger in an online debate</a> against those who called it a “zero-sum game.” Schwartz underlined that customers gladly pay transaction fees in exchange for the beneficial services provided by the XRPL, emphasizing its function in supporting a range of financial operations and enabling effective asset transfers. 
Notably, this explanation highlights the benefits of the XRPL in addition to value transfer, presenting it as a strong foundation for several financial activities. Meanwhile, David Fueling, a renowned engineer connected to RippleX, suggested <a href="https://thecoinrise.com/new-ripplex-governance-proposal-sparks-community-debate/">changes to the XRP Ledger Foundation’s (XRPLF) governance framework</a>.&nbsp; 
Fueling’s plan will advance democratic and decentralized procedures within the foundation in line with the expanding acknowledgment of the XRP Ledger network’s architecture by different protocols. 
<h2 id="b-ripple-focus-on-cbdc-and-stablecoins-b">Ripple Focus on CBDC and Stablecoins</h2> 
In June, the <a href="https://thecoinrise.com/ripple-actively-in-pursuit-of-cbdc-launch-with-10-central-banks/">blockchain provider collaborated with ten governments</a> to work on Central Bank Digital Currencies (CBDC). The cooperation aims to enhance XRPL utility and foster stablecoins development. Also, the partnerships with these governments highlight the potential of the XRP Ledger to serve as a robust platform for CBDC issuance and management. 
In addition to CBDCs, <a href="https://thecoinrise.com/montenegro-taps-ripple-to-improve-its-payment-infrastructure/">Ripple is focused on stablecoin development</a>, pegged to stable assets like the U.S. dollar. Ripple is gearing up to introduce its stablecoin, RLUSD. The stablecoin will be available on the XRP Ledger and Ethereum (ETH) platforms. 
The post <a href="https://thecoinrise.com/ripplex-unveils-xrp-ledger-testnet-reset/">RippleX Unveils XRP Ledger Testnet Reset</a> appeared first on <a href="https://thecoinrise.com">TheCoinrise.com</a>.

RippleX Unveils XRP Ledger Testnet Reset

Table of Contents

TheCoinrise Media

Other articles published on Aug 6, 2024

Bitcoin Mining Difficulty Soars to New Heights

Bitcoin’s Post-Halving Decline Mirrors 2015-2017 Trends with a 20% Drop to $49,000

Zoth Expands Strategic Investment Round to Launch Tokenized Liquid Note

Web3 casinos amassed $5b in crypto from 4k wallets in 2023 alone, data shows

An Ethereum Wallet Moves After Nine Years

Crypto Market Recovery Ahead? JPMorgan Highlights Buy-The-Dip Moment

Join our free newsletter for daily crypto updates!