Decentralized and public blockchain XRP Ledger (XRPL) reached a new milestone by surpassing the 88 millionth book. This milestone demonstrates XRP Ledger’s growing influence in the blockchain world. According to XRP Ledger Services, the current number of ledgers has reached 88,165,021. The number of accounts currently on XRP Ledger is 5,199,695. These accounts hold a total of 60,278,958,763 XRP, excluding a meager 2022 with no zero XRP balance.
XRPL uses a consensus protocol to ensure its performance. Every three to five seconds, a verification process occurs using designated servers to reach consensus on the order and outcome of XRP transactions. In the context of XRPL, a ledger is an immutable record of transactions and account balances maintained and verified by a distributed network of nodes.
Passing the 88 millionth notebook is not just a milestone; It represents the increasing popularity and usage of XRPL. With over five million accounts and over 60 billion total XRP, the growth of the ledger may reflect user confidence. XRP Ledger made progress in the previous quarter, Q1, as detailed in Ripple’s XRP Markets Report for Q1 2024; Transactions on the XRP Ledger increased by 108%, while average transaction costs decreased by 45%.
In the previous quarter, XLS-30 went live on the XRP Ledger Mainnet, introducing its non-custodial automatic market maker (AMM), a native feature of XRPL’s decentralized exchange. This feature, called auto-bridging, is a DEX feature that uses XRP as the native currency to facilitate trades between any two assets in XRPL. With this AMM functionality launched in the XRPL Mainnet, Auto-bridging will become increasingly important in improving the functionality and interoperability of the ecosystem as we add XRPL assets and applications and AMM usage evolves.
