Crypto World News
July 6, 2022 by
Blockchain company Ripple’s development arm, RippleX, recently provided an update saying that its team of engineers is now convinced in the XRP Ledger’s capacity to implement the XLS-20 protocol for non-fungible tokens.
Ripple updated its services to enable validators to vote in favor of enacting the aforementioned standard. The development team started evaluating the XRPL’s capacity to handle the increased transaction volume brought on by on-ledger NFTs.
When using XRP payments, the RippleX team was able to obtain a maximum sustained capacity of 2,199 transactions per second.
The development team created a million accounts that produced 20 NFTs apiece to evaluate the throughput of NFTs.
A total of 20,000,000 NFTs were created, or 20 NFTs per account, on the XRP Ledger. The test made an offer against a random NFT that it had chosen. The proposal was then accepted and thus resulted in a single transaction that included both the offer and acceptance.
Following that, RippleX also calculated a combination of NFT minting, NFT offers, and XRP payments.
The experiments were carried out in a perfect setting with simulated workloads. Due to the fact that there were only five validators functioning at any one site, the aforementioned statistics do not accurately represent the network’s performance in practice.
In contrast, the live network contains a large number of nodes that are active all over the world. Despite efforts to reduce the overhead of XLS-20-based NFTs, NFT transactions require more processing power than straightforward XRP payments.
This was anticipated, primarily because NFT transactions manipulate more ledger objects than payments, which only affect two objects: the sender and recipient’s accounts.
Filed Under: Altcoin News, News
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