XRP Ledger Celebrates Massive 12 Years Amid Major Technological Milestones

XRP Ledger (XRPL), one of the largest cryptocurrency platforms, celebrated its 12th anniversary on June 2, marking the creation of 100 billion XRP tokens by Ripple Labs co-founder Arthur Britto in 2012. Despite this achievement, the initial days of the XRPL remain unclear due to a significant bug that wiped out early transaction history, making December 2012 the earliest point that can be traced.

Reflecting on this, Ripple CTO David Schwartz explained in December 2019 that during the initial development phase, numerous bugs had to be resolved, resulting in multiple resets of the ledger sequence and the unfortunate loss of early transaction data. Schwartz, alongside Britto and co-founder Jed McCaleb, began working on the XRP Ledger in late 2011, with Schwartz making his first significant code contribution in November 2011.

This year, the XRPL has undergone significant advancements, most notably with the launch of the Automated Market Maker (AMM) feature. This upgrade is poised to enhance the ledger’s functionality and liquidity, a development that Ripple CEO Brad Garlinghouse has expressed considerable excitement about. The AMM feature is expected to revolutionize the way liquidity is managed on the XRP Ledger, marking a significant step forward in its evolution.

XRP Ledger AMM Surpasses 5 Million XRP Locked

Since the introduction of the AMM, the total amount of XRP locked has surpassed five million. Additionally, the number of active liquidity pools has exceeded 500, showcasing the growing adoption and utility of the XRPL within the decentralized finance (DeFi) space. The operator of the XRP Ledger’s decentralized Unique Node List (dUNL), known as Vet, highlighted on the social media platform X that with 500 pairs, the XRP Ledger has reached 25% of Uniswap V3’s total pairs, expressing optimism that trading volume and swaps will soon catch up.

The XRP Ledger’s journey from its inception to its current state is a testament to the resilience and innovation within the Ripple community. As the ledger continues to evolve, it remains at the forefront of DeFi, promising further advancements and adoption in the years to come. With its robust technological foundation and ongoing upgrades, the XRP Ledger is well-positioned to remain a pivotal player in the cryptocurrency and DeFi landscapes.