Blog

XRP Ledger Validator sees NFT-to-NFT trading potential in Batch Amendment


A proposed amendment to the XRP ledger, Batch (XLS-56)is generating confusion among developers and validators alike.

A pseudonymous XRP Validator, Vetshared his experience testing the batch function on the Dev net, where multiple transactions, including minting and payments for intangible tokens (NFTs), can be bundled and executed automatically.

The amendment, according to VET, allows the creation of a fully peer-to-peer NFT-to-NFT trading platform, allowing users to perform a barter-like NFT swaps in a single transaction.

For example, one can exchange five of their NFTs for two NFTs owned by another party, all processed simultaneously to ensure atomicity and security, Vet told x.

As of writing, the batch amendment achieved 68.57% consensus among validators, with 80% required for activation. The XRP ledger (XRPL) is a decentralized, open source blockchain used by Ripple to build a cross border payment solution.

XRP Validator Vet's X Post. (x)

XRP Validator Vet’s X Post. (x)

What is Batch Amendment?

The Batch Amendment introduces atomic transaction capabilities to the XRP ledger, allowing multiple operations to be grouped and executed simultaneously as a single unified transaction.

It takes an all or nothing approach – either all transactions in the group complete successfully or none, thereby eliminating the risk of partial execution failures.

This principle of atomicity has its roots in computer science and database management, where a sequence of operations is treated as a single, indivisible unit of work. Therefore, an atomic process means that the entire set of transactions is either fully executed or fully integrated to ensure data integrity.

Atomicity in the XRP ledger can be valuable in complex NFT or swap trades involving multiple steps, facilitating the development of sophisticated NFT markets.

“This new amendment changes the functionality of the XRP ledger by allowing the grouping and ordering of up to 8 transactions in a single batched operation. It also introduces atomic execution by allornothing as one of its execution modes for batched transactions,” Teucrium said in a substack post.

A total of four batch modes are supported: allornothing, only, untilfailure, and independent. Having four modes will ensure flexibility in how multiple transactions are executed as a group, helping developers choose the best strategy for their use case.



Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button