According to U.Today, the XRP Ledger (XRPL), a decentralized public blockchain that powers the XRP cryptocurrency, has achieved a new milestone by exceeding 88 million ledgers. This achievement signifies the growing influence of XRP Ledger in the blockchain industry. As per XRP Ledger Services, the current ledger count stands at 88,165,021, and the account count is approximately 5,199,695. These accounts, barring a negligible 2022 with zero XRP balances, collectively own a total of 60,278,958,763 XRP.
To maintain performance, XRPL uses a consensus protocol. Every three to five seconds, designated servers known as validators, which anyone can operate, reach a consensus on the order and outcome of XRP transactions. In the context of the XRPL, a ledger is an unalterable record of transactions and account balances, maintained and validated by a distributed network of nodes.
The surpassing of 88 million ledgers is more than just a numerical milestone; it symbolizes the increasing popularity and usage of XRPL. With over five million accounts and a total of more than 60 billion XRP, the growth of the ledger could indicate user confidence. The XRP Ledger saw progress in the previous quarter, Q1, as detailed in Ripple's Q1, 2024, XRP Markets Report. On-chain transactions on XRP Ledger increased by 108%, while average transaction costs decreased by 45%.
In the previous quarter, the XLS-30 was launched 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 facilitate trades between any two assets on the XRPL, works in conjunction with the XRPL's AMM function, which was launched on the XRPL Mainnet. As XRPL adds assets and applications, and as AMM usage grows, auto-bridging will become increasingly crucial in enhancing the ecosystem's functionality and interoperability.