Developers are conducting extensive testing on NFT-Devnet to bring non-fungible token functionality to the Ripple network.
The innovation was announced by the developer of server software for the XRP ecosystem, Nik Bougalis. The network validators voted to activate the XLS-20 standard in the XRP Ledger Ripple (XRPL), aimed at bringing NFT functionality to the Ripple mainnet. This will be implemented through an upgrade of Ripple’s servers, allowing developers to create, trade, and destroy NFTs while working online. Right now, Ripple specialists are conducting full-scale tests to make sure that the code for working with NFTs in XRP Ledger is stable, scalable, and efficient.
Ripple developers came to the conclusion that XRPL can quite comfortably handle the additional burden of conducting transactions with unique tokens. Final testing results will be announced in the coming weeks. They will help you better understand the characteristics related to performance and resources required by server operators. Ripple staff recommended that validators take part in due diligence before voting on XLS-20 implementation.
“For anyone interested in experimenting with XLS-20 and exploring the possibilities of NFT, Ripple is launching NFT-Devnet. This will provide an opportunity to test network performance and identify the implications of the proposed XLS-20 standard without compromising the core XRPL network,” says Bougalis.
However, Ripple CTO David Schwartz takes a cautious stance on the matter. He tweeted that if he were a validator, he would not vote yes yet. Schwartz considers it worthwhile to wait for other validators to update to version 1.9.1 and report no problems after some time. The Ripple CTO explained that even if a majority of validators vote for the XLS-20 standard, it will not be activated for two weeks.
Schwartz considers it necessary to make changes to the main network only when critical errors occur, since any changes always involve costs and risks. According to him, “it is better to find a balance between not standing still and not taking too risky actions.” However, he is pleased that the Ripple community is paying attention to performance, features, security, and network scaling.
Last year, Ripple announced the launch of a $250 million NFT fund for the XRP Ledger. The fund was created to support individual developers, brands, and marketplaces involved in the creation and trading of collectible tokens.
