The XRP Ledger's upcoming xrpld 3.3.0 update will introduce five amendments, including previously withdrawn features, aimed at enhancing functionality.
XRP Ledger’s xrpld 3.3.0 Upgrade to Introduce Five Amendments
The XRP Ledger is set to release its xrpld 3.3.0 update next week, which will propose five amendments for validator consideration, including two features that were previously withdrawn due to security concerns.
Among the amendments are revised versions of the Batch and Permission Delegation functionalities. The Batch feature enables the simultaneous execution of up to eight transactions across different accounts, while Permission Delegation allows institutions to assign limited signing authority to other accounts without relinquishing full control.
Additionally, the update introduces three new amendments: Confidential MPT, Sponsored Fees and Reserves, and Dynamic MPT. These are designed to enhance private tokenized asset management, allow institutions to cover XRP costs for users, and enable modifications to token properties without the need for complete migrations, pending 80% validator approval over two weeks.
Jazzi Cooper, head of product at RippleX, confirmed the upcoming release and emphasized the potential of the XRPL to support tokenized assets for various financial applications such as global transfers and trading.
“XRPL has already demonstrated its capability to support tokenized assets at scale. Now it’s time to leverage these assets for global transfers, trading, collateralization, and settlement,”
— Jazzi Cooper (@jazzicoop)
For any amendment to be enacted, it must secure at least 80% approval from trusted validators over two consecutive weeks. Both the Batch and Permission Delegation features were previously submitted for approval but failed due to significant vulnerabilities identified by security researchers.
In February, the Batch feature was rejected after a critical flaw was discovered that could allow unauthorized transactions. Similarly, the Permission Delegation feature was disabled last September after vulnerabilities were found that could allow one account to impose fees on another.
The newly introduced Confidential MPT utilizes zero-knowledge proofs to verify statements without revealing underlying data, ensuring confidentiality of balances and transaction amounts while allowing for necessary audits. Sponsored Fees and Reserves will enable banks to cover XRP fees for users, eliminating the need for individuals to hold XRP before making transactions. Dynamic MPT allows for flexible token property modifications at creation, streamlining updates without migrating to new tokens.
Just two weeks ago, all amendments were still in development, with validators only able to vote on bug fixes. The current proposal marks a significant shift in the ledger's progress, although approval remains uncertain, particularly given the previous failures of the Batch feature and the low support for other amendments.
