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Ripple controls less than half of XRP's supply: What does it mean?

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The crypto -verse started out as an entity free from the shackles of centralized systems. However, with time decentralization began taking a backseat in the ecosystem. Prominent fintech firm Ripple and cryptocurrency XRP was time and again called out for being increasingly centralized. Now, however, things seemed to be changing with Ripple reducing its XRP holdings. According to Ripple’s Q3 2022 markets report, the firm reduced its holdings below 50 percent of the total supply for the very first time. This is reportedly considered a “huge milestone” for the firm. Brad Garlinghouse, the CEO of Ripple took to Twitter and said, Below 50% – a huge milestone! For 10 years, Ripple has focused on using XRP & the XRPL within our products for its speed, security and scalability for movement of value. As more customers use XRP in their payments flows, it’s clear there is real utility here. https://t.co/jKZwye17uZ — Brad Garlinghouse (@bgarlin...
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Ethereum Smart Contracts to find shelter in XRP Ledger

The crypto industry is home to a pl ETH ora of networks. While most of them coexist in peace, conflict cannot always be avoided. Similarly, the XRP and Ethereum [ ETH ] communities haven’t gotten along very well. Despite this, Ripple was seen making room for Ethereum on its XRP Ledger or XRPL blockchain. Ripple revealed that an Ethereum Virtual Machine [EVM] compatible sidechain was out and about on the firm’s devnet. EVM is nothing but software that manages smart contracts on the Ethereum network. The latest sidechain would reportedly run in parallel with the main XRPL blockchain. Through this, Ripple is expected to garner permits to prominent decentralized protocols like Uniswap. In addition to this, the network would be able to employ Web3 wallets like XUMM wallet and Metamask. Elaborating on the same, RippleX software engineer Mayukha Vadari said, “This milestone means more developers can easily access the XRPL’s feature set (such as its speed, susta...
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XRP: NFTs May Appear on XRPL Sooner than Anticipated

NFT (Non-Fungible Token) support on the XRP Ledger is something many have been asking for. However, support for non-fungibles was pushed back after a bug was discovered in the system. The bug led to developers withdrawing their votes, and the implementation of XLS-20 was pushed back. XLS-20 is the proposal for native NFTs on the XRP Ledger. The bug in question could be used by malicious players “to perform a denial-of-service attack on NFT issuers.” Nonetheless, the community held another vote to remove the mechanism that caused the bug to appear in the first place. As per an official blog, the vote has over 80% validators on board, “which puts XLS-20 Non-Fungible Token (NFT) support on track for becoming enabled on the XRP Ledger Mainnet in the near future.” When will NFTs appear on the XRP Ledger? As per the official blog, the fixRemoveNFTokenAutoTrustLine modification turns off the bugged feature for NFTs on the XRP Ledger. Since it alters the NonFungibleT...
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