XRP Ledger Upgrade Set for Oct. 23; Lending Protocol Faces Delay

XRP Ledger to Implement Security Fix October 23

The XRP Ledger (XRPL) is scheduled for a software upgrade on October 23, designed to resolve a security vulnerability. The upgrade, dubbed fixCleanup3_4_0, corrects a flaw that could have allowed authorized accounts to mint tokens instead of burning them, potentially disrupting token supply dynamics.

Native Lending Protocol Falls Short of Approval

Alongside the security upgrade, a proposal for a native lending protocol on the XRPL failed to garner enough support for activation. The vote, which concluded recently, did not reach the necessary threshold for approval. Details regarding the specific vote counts and reasons for the shortfall were not immediately available, but the outcome delays the introduction of on-chain lending capabilities to the XRP ecosystem.

The XRPL community has been actively discussing the implementation of a native lending system for some time, aiming to expand the functionality of the network and attract new use cases. This recent setback suggests further refinement and community engagement will be required before the proposal can be successfully implemented.

Source: Bitcoin.com News