XRPL’s fixReducedOffersV1 upgrade starts the 80% consensus count

The “fixReducedOffersV1” update is now in the two-week activation countdown stage, having received approval from more than 80% of validators. This update marks a significant upgrade for XRPL.

XRP Ledger (XRPL) is set to introduce more features in the coming weeks. As with XRPScan, users relying on cheat v1.11.0 or earlier versions are advised to update their system. Applying fixReducedOffersV1, solving critical issues with DEX offers, required to achieve more than 80% improvements within 14 days.

Among the improvements introduced in the XRPL v1.12.0 update, fixReducedOffersV1 is the only update that stands out by starting a two-week activation countdown, ensuring 80% compliance. FixReducedOffersV1 aims to reduce the spread of order books hidden by reduced offers, increasing the overall functionality of XRPL.

The XRPL update allows for protocol updates with more than 80% validator support within two weeks. This recent development requires upgrading to the latest version of XRPL for continued participation as a node provider or in other defined protocol functions.

From the receiver's point of view, this upgrade may cover the reduced exchange rate on XRPL's decentralized exchanges (DEXs) to make it more favorable than the original offer. In such cases, other offers related to the original may offset the reduced offer.

On the other hand, the absence of these improvements results in a discount with an extremely unfavorable exchange rate after rounding compared to the original value. Over time, this will prevent more favorable requests from being accepted, creating huge challenges for decentralized brokerage platforms operating on XRPL.

Related: Ripple CTO Seeks Community Consensus for XRPL AMM Feature Adoption

In September, version 1.12.0 of XRPL was launched, introducing popular features such as fixReducedOffersV1. The update includes bug fixes and improvements related to Automated Market Maker (AMM) and Clawback functionality. Users had until September 20 to upgrade to the new version to avoid disruptions. Moreover, the XRPL update has been identified for new updates such as XLS-30 to participate in the voting process.

XRPL has made significant internal and external improvements, which have contributed to its overall positive outlook. The recent successful completion of a security audit for the Xahau sidechain bodes well for XRPL's prospects.

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