The XRP Ledger (XRPL) has launched version 2.5.0 of its software, bringing several improvements to the network.

This marks a major step for XRPL, which is working to compete more directly with blockchain platforms like Ethereum and Solana.

Updates and Bug Fixes

One of the releases most notable features is support for batch transactions. This allows multiple requests to be grouped and processed together as a single unit, improving efficiency and enabling complex multistep operations.

Another key update adds escrow support for RLUSD and other crypto assets on XRPL. Escrows can now interact with trustline-based tokens as well as multi-purpose ones. This enables automated and secure payouts, which can be useful for setting up vesting schedules and managing deposits within applications.

Version 2.5.0 also introduces permissioned decentralized exchange (DEX) controls and permission delegation. The former gives developers control over who can participate in exchanges, helping projects meet regulatory requirements. The latter allows users to provide specific access rights to another wallet, offering more account management and automation flexibility.

Furthermore, the update brings several bug fixes affecting RPC responses for tem codes and NFT interactions with trustlines. Vet, a popular XRPL validator, said these changes will make its software run faster, more efficiently, and more stably.

New Features and Improvements

The XRPL software update has also brought new features and enhancements to improve performance, reliability, and developer experience. The network can now handle more transactions simultaneously, and the relay logic has improved.

XRPL Commons has also been added as a trusted bootstrap cluster, which supports better network connectivity. In addition, the upgrade fixes an issue related to conflicting signing methods by improving how the system handles transactions from accounts using multiple signers.

Other changes include better memory usage, reduced duplicate network traffic, faster build times, clearer documentation, and updated developer tools. Build instructions have also been improved for systems using Ubuntu 22.04 and above.

Leading up to the update, daily XRPL addresses soared seven times, jumping from around 40,000 to nearly 295,000. Meanwhile, whale wallets also set a new record by hitting an all-time high of 2,708, the largest number in the network’s 12-year history.

This growth comes as other blockchains like Solana face declining metrics, including a $2.5 billion capital outflow and a 90% drop in DEX volume since its January peak of $36 billion. The platform is also facing reduced meme coin activity due to competitors like BNB Chain. Ethereum has also been affected by scalability issues, leading to congestion and high gas fees during peak periods. Following the upgrade, XRP has gained nearly 6% and is trading at $2.20.