XRP Ledger Closes Its 60 Millionth Ledger, Reaching A Milestone

The number of XRP ledgers set on the network officially surpassed 60 million, as data provided by XRP Ledger explorer XRPScan shows. In the Ripple news today, this is a major achievement and as XRP Ledger closes its 60 millionth ledger, the next milestone is set at 70 million.

For those of you who don’t know, in the cryptonews last September, we reported about this mainnet reaching 50 million ledgers. Now, we can see that it took it over a year to add another 10 million. This milestone coincided with the eighth anniversary of XRP Ledger and according to the Ripple CTO David Schwartz, the XRPL version that we “know and love” was originally born in 2012.

Congratulations everyone on successfully closing 60 Million ledgers on XRPL mainnet! 🍻 and thank you to all network participants: https://t.co/FBpAgOsGZ3 pic.twitter.com/3U76qdYw2M

— XRPScan (@xrpscan) December 5, 2020

Even though the first week of the XRP Ledger has been permanently lost, critics can now sleep well knowing that the XRP Ledger closes its 60 millionth milestone. As Reported before, the Blockstream CEO Adam Back described it as “the biggest fail yet” but things seem to be changing.

Another interesting thing is that the XRP Ledger Consensus Protocol, which is the backbone of the ledger, relies on a set of selected nodes for validating transactions on the network. This is what sets it apart from Bitcoin and its proof-of-work based model.

A recent paper shared by the researcher Christian Cachin showed that the network is not capable of reaching any true consensus, all while violating “safety and liveness.” In other words, XRP is vulnerable to attacks by malicious actors, the paper submitted at the University of Bern, Switzerland shows.

“The consensus protocol of the Ripple network is brittle and fails to ensure consensus as commonly understood in computer science and among blockchain practitioners.”

While commenting on his findings, Schwartz claimed that any opportunity to improve the network security was “a good thing.” He said:

“I welcome papers like this and appreciate having any weaknesses identified and pointed out. Any opportunity to improve XRPL’s consensus protocol or the security and reliability of blockspace generally is a good thing.”

Meanwhile, in the other news, we can see that XRP is holding onto $0.60 with losses that are below 4%. The cryptocurrency right now needs to find new momentum in order to break away with a new high.