After an unplanned halt of transaction verification that lasted for about an hour, the XRP Ledger is now fully functional.
RippleX announced on Feb. 5 that “XRP Ledger has resumed forward progress”The team is investigating what caused the problem.
The incident raised concerns about the network’s stability and marked the second disruption in less than three months.
The latest outage coincides with a difficult period for XRP. Its price has dropped significantly. CryptoSlate shows the token is trading for $2.52, a drop of nearly 20% in a week..
There is no clear cause for the failure
Ripple’s Chief Technology Officer David Schwartz acknowledged the network disruption but stated that the exact cause remains unknown.
Schwartz says that early observations show validators have stopped publishing their confirmations even though the consensus mechanism is working as expected. He speculated servers might have held back validating to prevent wrong ledger acceptance.
“He said:
“We don’t know the details yet, but it’s likely that servers refused to send validations precisely because they knew something was wrong and wanted to make sure no server accepted a ledger as fully validated when they couldn’t be sure the network would retain and eventually agree on that ledger.”
Schwartz at first believed there were multiple validators who intervened manually to restore network. He later revealed that only one validator operator had taken manual action. This left the question of whether or not it was a result of intervention.
Schwartz also stressed that unlike in the past, this outage did not result in any ledgers being lost. Only the tentative ledgers that were created as a result of this disruption, which is standard procedure in these situations, were destroyed.
XRPL’s booming ecosystem
XRPL is a growing ecosystem, despite the interruption.
According to Ripple’s report, XRPL’s on-chain activity remained strong despite a 2.86% drop in transaction count to 167 million in Q4 2024.
Automated Market Makers, or AMMs, have increased the volume of swaps from $1 billion in Q4 to $774.15 millions. This is a significant increase. AMM swaps accounted for 77% of total DEX volume, up from $63.4 Million in Q3 and $774.15 million in Q4.
The number of wallets created on the network has also increased significantly, from 140,00 in Q3 up to 709,00 in Q4. First Ledger’s integration with Discord as a trading and meme token platform, was said to be a major factor in the increase.
These numbers come amid significant developments designed to enhance the ledger’s capabilities to support the next wave of institutional DeFi projects.
Ripple stated that XRPL’s XLS-40 amendment, which introduces Decentralized Identifiers (DIDs) to the XRP Ledger, recently went live on the mainnet. The upgrade allows users to create and manage digital identities that are self-sovereign. They can also verify them in accordance with W3C guidelines.
Additionally, XRPL’s new native Oracle protocol, integrated with Band Protocol and DIA, provides secure, real-time data. Oracles like these will be used to price upcoming projects including lending protocols (XLS66d), XRPL Automated Market Makers (XLS-30) and tokenized financial assets.
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