XRP Ledger (XRPL) Rolls Out "fixEmptyDID" and "fixPreviousTxnID" Amendments Ahead of RLUSD Stablecoin Launch

The XRP Ledger (XRPL) recently rolled out two major amendments, "fixEmptyDID" and "fixPreviousTxnID." The newly introduced upgrades received positive reactions and ignited some positive market sentiments. This follows the earlier implementation of the fixAMMv1_1 amendment.

The XRP Ledger (XRPL) recently introduced two amendments, “fixEmptyDID” and “fixPreviousTxnID,” sparking positive reactions and optimism within the crypto community.

This follows the earlier implementation of the fixAMMv1_1 amendment, collectively aiming to enhance XRPL's functionality ahead of the USD-backed stablecoin RLUSD's launch.

Both upgrades received approval from 31 validators, surpassing the 28/35 threshold for proposal implementation on the XRPL mainnet.

The “fixEmptyDID” amendment seeks to prevent the creation of empty DID (decentralized identifier) ledger entries, which occurred in the past and took up valuable space without offering any benefit.

Now, any transaction that attempts to create such entries will receive an error as a response. This amendment ultimately improves the ledger's efficiency while maintaining the existing process.

Meanwhile, the “fixPreviousTxnID” upgrade focuses on improving transaction tracking by adding PreviousTxnID and PreviousTxnLgrSequence fields, which will enhance the process of tracing the history of ledger modifications.

Before this upgrade, many ledger entries lacked these critical fields, making it difficult to track the transaction history until now. Both upgrades will help streamline operations on XRPL, optimizing the blockchain's ability to manage large data and paving the way for more complex applications in the future.

RLUSD Potential With Numerous Amendments

This upgrade expands the use cases of the RLUSD, helping it explore its potential. In other news, the RLUSD stablecoin is currently in beta testing on both XRP Ledger and Ethereum.

A few days ago, blockchain payment firm Ripple (CRYPTO: XRP) counterpart issued 970 RLUSD in two batches, each with 485 RLUSD. Earlier today, the stablecoin tracker announced on X that 300,000 RLUSD were minted at RLUSD Treasury.

At the beginning of this week, Ripple burnt 64 RLUSD stablecoins through the Treasury as part of its beta testing for the token's launch.

SEC And XRP Utility

Also, the United States Securities and Exchange Commission (SEC) recently acknowledged that speculation is key to improving XRP’s utility and price. The Commission agrees that speculative trading brings liquidity to the XRP ecosystem, which is important for Ripple’s product.

This confirms that the SEC recognizes that buying and trading XRP is not just for transactional purposes but also for potential gain. Anderson, an assets researcher, took to X (CRYPTO: X) to share this information as a document from Ripple's lawsuit.

The post triggered some reactions from community members, with some surprised that the SEC would use this as an argument. Another group sees it as validation for XRP’s future. Notably, speculative trading plays a crucial role in XRP and any cryptocurrency’s liquidity.

This could mean that the token's value is more resilient than previously thought. At the time of this writing, XRP price traded at $0.6137, with a 4.18% increase in the last 24 hours.

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