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XRP Ledger (XRPL) Back On Track To Launch NFTs As XLS-20 Proposal Fixed And Opened For Community Review


thecryptobasic.com 16 September 2022 07:27, UTC
Reading time: ~3 m

XRP developers respond swiftly to a bug in the XLS-20 proposal with a simple fix.

In a tweet on Thursday, the director of engineering at Ripple and author of the XLS-20 amendment proposal, Nik Bougalis, revealed that a new version of the proposal incorporating a fix to the bug identified on Monday is currently open for community review.

“And today, the proposed 1.9.4 release, which incorporates the fix described below, is up for review,” Bougalis wrote.

And today, the proposed 1.9.4 release, which incorporates the fix described below, is up for review:https://t.co/gam8wrpPJI

Once more unto the breach, dear friends; once more. https://t.co/uSAtTiOHH6

— 𝙽 𝙸 𝙺 𝙱 (@nbougalis) September 14, 2022

As previously highlighted by Combat Kanga, the fix to the bug was pretty simple, requiring a correction to a single line of code, and was coded up by developers the following day. Notably, the new fix limits NFT holders from selling NFTs for assets that the issuer does not have a trustline, allowing for seamless royalty payments. However, Bougalis says in the future, royalties paid in assets the issuer does not have trustlines for could be converted to XRP using a DEX.

With this fix it can only be sold for assets the issuer has a trustline for. Yes, that’s a limitation, but it’s meant to be a simple fix.

Long term, code that converts royalties paid in issued assets the issuer doesn’t accept into XRP by crossing existing DEX offers makes sense.

— 𝙽 𝙸 𝙺 𝙱 (@nbougalis) September 15, 2022

When asked about a timeline for implementation, Bougalis noted that it depends on how quickly operators update. While admitting that there is some “upgrade fatigue,” the developer expressed hope for quick adoption of the new release.

The fix is simple enough that it should be done by tomorrow; I expect a proposed release candidate by the end of the week.

How soon operators update is a factor that I can’t predict. There’s a bit of “upgrade fatigue” but hopefully the new release is quickly and widely adopted.

— 𝙽 𝙸 𝙺 𝙱 (@nbougalis) September 12, 2022

It bears mentioning that The Crypto Basic reported on Monday that the launch of native NFTs on the XRPL had faced a setback following the discovery of a bug by xTokenize, hours to the implementation. Notably, the bug could max out a minters XRP reserve by creating an infinite number of trust lines at little cost to the attacker.

It is worth noting that Combat Kanga expects the full implementation to proceed in a month in the best case and two and a half months in the worst, as it takes time for operators to test and update their servers before voting can once again commence. However, the XRP community has been working towards native NFT functionality since last year, with developers expressing readiness in July.

XRP faithful will hope for a swift implementation as the introduction of NFTs promise to usher in a new wave of adoption.

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