XRP Ledger Hits Major Milestone, Surpassing 88 Million Ledgers

XRP Ledger (XRPL), the decentralized public blockchain that powers the XRP cryptocurrency, has set a new milestone by surpassing 88 million ledgers. This milestone demonstrates XRP Ledger’s expanding influence in the blockchain world.

According to XRP Ledger Services, the current ledger count is 88,165,021. The account count for XRP Ledger is presently 5,199,695. Except for a meager 2022 with zero XRP balances, these accounts own a total of 60,278,958,763 XRP.

To ensure performance, XRPL employs a consensus protocol. Every three to five seconds, designated servers known as validators that anybody can operate reach a consensus on the order and outcome of XRP transactions. A ledger in the context of the XRPL is an immutable record of transactions and account balances that is maintained and validated by a distributed network of nodes.

Surpassing 88 million ledgers is more than just a number milestone; it represents the growing popularity and usage of XRPL. With over five million accounts and a total of more than 60 billion XRP, the ledger’s growth might indicate user confidence.

XRP Ledger experienced progress in the previous quarter, Q1, as detailed in Ripple’s Q1, 2024, XRP Markets Report; on-chain transactions on XRP Ledger surged by 108%, while average transaction costs were reduced by 45%.

In the previous quarter, the XLS-30 went live on the XRP Ledger Mainnet, introducing a noncustodial automated market maker (AMM) as a native feature of the XRPL’s decentralized exchange. Auto-bridging, a DEX feature that uses XRP as the native currency to ease trades between any two assets on the XRPL, works in tandem with the XRPL’s AMM function, which launched on the XRPL Mainnet.

As XRPL adds assets and applications, and AMM usage develops, auto-bridging will become increasingly important in improving the ecosystem’s functionality and interoperability.

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