- The XRP Ledger, home to the XRP cryptocurrency, has completed its 84 millionth ledger transaction.
- The ledger achieved this milestone six weeks after the 83 millionth transaction, indicating a monthly pace of around 1 million new ledgers.
- Ranked as the third-largest blockchain by market capitalization after Bitcoin and Ethereum.
The XRP Ledger, the blockchain behind the XRP cryptocurrency, has reached a new milestone by closing its 84 millionth ledger transaction. According to data from analytics platform XRPScan, the XRP Ledger’s current ledger count stands at over 84 million.
This comes just six weeks after the ledger closed its 83 millionth transaction in early October, indicating a pace of around 1 million new ledgers per month.
As the third largest blockchain in terms of market capitalization behind Bitcoin and Ethereum, this growth reinforces the rapid rate of adoption and innovation happening on the Ledger.
XRP Ledger bringing in new developments
Several new developments on the horizon promise to further expand the ledger’s capabilities and utility. Last week, two new XLS standards were proposed to enhance functionality around signer lists and NFT escrows.
“XLS-49d: Multiple Signer Lists” will allow accounts to utilize multiple signer lists for authorization. The “0051 XLS-51d: NFToken Escrows” proposal aims to implement escrow capabilities for NFTs similar to the escrows already possible with the XRP cryptocurrency.
Over 80% of validators have also approved two amendments, “fixNFTokenRemint” and “fixReducedOffersV1,” that are now in a two-week countdown period before going live on the mainnet. These technical improvements will help perfect the ledger’s rapidly growing NFT and decentralized exchange offerings.
The Ledger processes transactions at a rapid rate, averaging around 3-5 seconds and scaling up to 1,500 transactions per second. This speed and low transaction costs have driven increasing adoption across a range of uses like micropayments, tokenization of assets, and decentralized finance.
