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Ripple Unveils XRP Ledger Version 1.2.0 with a Slew of New Features

Ripple Unveils XRP Ledger Version 1.2.0 with a Slew of New Features

Reading Time: 2 minutes by on February 17, 2019 Business, News

Ripple has unveiled its latest XRP Ledger version 1.2.0 upgrade on February 13, 2019, while also urging users to upgrade before February 27, 2019.

A New Version in Town

Ripple has announced a new upgrade in the form of its XRP Ledger version 1.2.0, which went live on February 13, 2019.

In its press release, Ripple management touched on one of the biggest benefits of its XRP ledger which is its censorship resistance.

The company stated:

With the release of version 1.2.0 of the XRP Ledger, servers now have the ability to automatically detect transaction censorship attempts and issue warnings of increasing severity for transactions that a server believes should have been included in a closed ledger after several rounds of consensus.

While the new upgrade comes with a wide variety of benefits, users have been instructed to upgrade to the new version before Wednesday, February 27, 2019.

Failure to upgrade will lead to the user’s server being amendment blocked and as a result, the server cannot determine the validity of a ledger, participate in the consensus process or submit transactions.

The New Features

The new Ledger upgrade comes with a number of new features such as MultisignReserve Amendment, fixTakerDryOfferRemoval, and fix1578 Amendments.

With the MultisignReserve Amendment, the reserve requirement associated with signer lists for Multisign is reduced. Multisign is one of the three major ways by which a transaction is approved on the ledger besides regular keys and master keys.

Multisign also allows users to authorize transactions with the use of multiple private keys. This means that teams working on joint projects can have authority delegated at any given time.

The post also included information about how to make an upgrade to a user’s system.

The post explained:

The Ripple technical operations team plans to deploy version 1.2.0 to all XRP Ledger servers under its operational control, including private clusters, starting at 2:00 PM PST on Wednesday, 2019-02-13. At that time, Ripple plans to start voting in favor of the fix1578 amendment. The deployment is expected to complete within 4 hours. The network should continue to operate during deployment and no outage is expected.

The team then went on to thank Guido Vranken and Aaron Hook, who had been instrumental in discovering and reporting a number of flaws in the system before the upgrade became available. 

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