XRP Ledger Feature ‘Checks’ Goes Live; Works Similar to a Traditional Paper Check

XRP Ledger has introduced the traditional finance feature of checks starting from June 18th after getting the approval of the validators. The firm claimed that the feature was introduced with ripple v0.90.0. However, it failed to get the required support of node validators to be active at that time.

However, Wietse Wind, a popular XRP contributor, claimed that this amendment was implemented without getting the approval from Ripple-associated validators.

For this amendment to be passed and remain active, at least 80% of the node validators must approve it, and as long as this amendment enjoys majority support, it would be available on the XRP ledger.

What Would be the Use of Checks on XRP Ledger?

The β€˜checksβ€˜ feature on XRP Ledger would function quite similar to that of traditional tests where anyone can use them to transfer a certain amount of XRP to a particular person. The holder of the check can then cash the mentioned amount.

The developer also explained that the real transfer of value only occurs once the check is cashed out, so in case the sender of the check does not have the specified XRP in their wallet, then the check would β€œbounce.”

Until the recipient cashes out, the XRP remains in the sender’s wallet. The official announcement made by the XRP also mentioned that the XRP community does not require to download any update to avail the new Check feature as the minimum requirement for the XRP ledger to support this function as it is already synced with the network.

XRP, as a cryptocurrency token, hasn’t seen any progress in terms of price, failing to get past the psychological barrier of $0.30 ever since the bear market of 2018 and recently also lost its third-position in crypto rankings by CoinMarketCap to Tether’s Stablecoin. However, it has continued to support Ripple’s remittance technology and offers liquidity for the RippleNet.

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Author: James W

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