【XRP patch loses votes for two hours, countdown resets】
A fix patch for the XRP Ledger, originally scheduled to take effect on October 23, has now been pushed back to November 4. The reason wasn’t opposition—its support fell below the threshold for two hours.
The rules are strict: 29 of the 35 trusted validators must support it, and the threshold must be met at every check for 14 consecutive days. If it drops even once, the count starts over. At 12:54 UTC on October 21, support fell to 26 votes, and the countdown reset immediately.
Support is now back up to 31 votes, two above the threshold. The patch fixes issues with vault calculations and loan defaults, among other things; it does not enable lending. The lending amendment itself is still short by about 10 votes.
My take: This is a minor hiccup in the governance process and just short-term noise for the price. What really matters is when the lending feature gets enough votes. XRP was trading at 1.347 on Binance at 12:28, up 1.1% over 24 hours.
If support falls below 29 again before November 4, that would suggest validator disagreement is greater than it appears, and I’d need to revise this view.
Do you think on-chain lending will launch on XRP this year?
Source: CoinDesk
#XRP #XRP
📈 Top three contract gainers (13:22): $IRYS +58.39%｜$ARC +16.68%｜$ALT +16.04%
#BinanceSquare
⚠️ The above is a compilation of information and personal opinions, and does not constitute investment advice. DYOR.
A fix patch for the XRP Ledger, originally scheduled to take effect on October 23, has now been pushed back to November 4. The reason wasn’t opposition—its support fell below the threshold for two hours.
The rules are strict: 29 of the 35 trusted validators must support it, and the threshold must be met at every check for 14 consecutive days. If it drops even once, the count starts over. At 12:54 UTC on October 21, support fell to 26 votes, and the countdown reset immediately.
Support is now back up to 31 votes, two above the threshold. The patch fixes issues with vault calculations and loan defaults, among other things; it does not enable lending. The lending amendment itself is still short by about 10 votes.
My take: This is a minor hiccup in the governance process and just short-term noise for the price. What really matters is when the lending feature gets enough votes. XRP was trading at 1.347 on Binance at 12:28, up 1.1% over 24 hours.
If support falls below 29 again before November 4, that would suggest validator disagreement is greater than it appears, and I’d need to revise this view.
Do you think on-chain lending will launch on XRP this year?
Source: CoinDesk
#XRP #XRP
📈 Top three contract gainers (13:22): $IRYS +58.39%｜$ARC +16.68%｜$ALT +16.04%
#BinanceSquare
⚠️ The above is a compilation of information and personal opinions, and does not constitute investment advice. DYOR.