Ripple found itself at the center of enormous controversy, the debate on the regulation of cryptocurrency in the United States hit Ripple, with statements that XRP is a security. While the company has consistently discussed, it seems that it can not be denied that the standard definition of the Securities and Exchange Commission (SEC) when used in the encrypted market will damage Ripple. To avoid the imminent problems, Ripple introduced XRP Ledger Version 1.1.0.
What's new in version 1.1.0?
Version 1.1.0 of XRP Ledger includes a new addition: the DepositPreAuth Amendment. Used in conjunction with the pre-existing DepositAuth amendment, it allows users to include senders' addresses in the whitelist, helping to pre-authorize inbound transactions.
In his development blog, Ripple writes:
"XRP version Ledger version 1.1.0 also includes incremental enhancements to various previously released features (fix1515 fix), deprecate sign support and signing for commands from the rippled bees and enhances the invariant control for greater security. "
The company has suggested the update of all server operators to XRP Ledger version 1.1.0 by Thursday, September 27th. Those who fail to update to the new version will become " blocked amendment, " hindering their ability to determine the validity of a ledger, voting for future amendments and participation in the consensus process. The developers also provided detailed instructions for server operators to upgrade to the new version.
Ripple's new product could be launched next month
The blockchain company could launch a commercial application of its crypto-focused product, according to Sagar Sarbhai, head of regulatory relations for Asia -Pacific and the Middle East in Ripple. Sarbhai noted Monday:
"I am very confident that in the next month or so you will see some good news coming up where we launch the product live in production."
In an interview with CNBC, he also said that the company is making significant progress with xRapid to help banks make faster transactions using XRP of Ripple's native currency.
The company's new steps towards development may also be fueled by its upcoming SWELL 2018 event that will present key decision makers and influencers including former US President Bill Clinton, former President Clinton and President Obama's economic advisor, Gene Sperling. Important political figures from Abu Dhabi, the EU and Brazil will also be present.