XRP Ledger Set for Upgrade Enabling Banks to Share Payment Responsibilities

XRP Ledger's PermissionDelegationV1_1 Upgrade Set to Launch

The XRP Ledger is on track to introduce a new feature called PermissionDelegationV1_1, enabling accounts to delegate specific payment responsibilities to other accounts. This upgrade is expected to go live on October 5, contingent upon the support of at least 28 of the network's 35 trusted validators.

This new functionality will allow users, such as businesses issuing stablecoins, to assign tasks like processing payments or verifying customer access while retaining control over their primary account keys. The countdown for this upgrade began on September 21, following support from 29 validators. Any loss of support below the required threshold would reset the countdown.

This marks the second attempt to implement PermissionDelegationV1_1, after a previous version was halted due to a security vulnerability that could lead to unauthorized transaction fees draining XRP balances. The new version addresses this issue by modifying how the system verifies permissions before charging fees.

In this upgraded version, accounts can delegate up to 10 specific permissions, which can be adjusted or revoked at any time, enhancing operational flexibility while maintaining security. The implementation will be part of the xrpld 3.3.0 software, which runs the XRP Ledger nodes.