XRP Check Introduction Needs Just One More Voice to Pass

News
Thu, 06/04/2020 - 10:34
Vladislav Sopov
The check issuing feature in XRP payments has 12 more days to be discussed. With the announced support of Alloy, it needs only one approval out of 36 to pass.
Cover image via stock.adobe.com
Contents

The XRP Checks amendment gained 28 'yeas' of 36, and, therefore, is one hit away from implementation. But one circumstance makes things spicier with this novelty.

Validator moves veto

It was announced on June 3, 2020, that Alloy Networks, one of the XRPL validators, will lift its veto on the implementation of checks in the XRP payment mechanism.

Image by XRP Scan

The Alloy Networks leaders managed to keep to their word and move their voice to the 'Yes' section. Now, this proposal has been approved by 77.7% of the validators. Only one voice separates these amendments from passing.

XRP Checks, according to the text of the proposal published on the official XRP Ledger devs website, will behave similarly to traditional paper checks. A Check will specify the amount of a transaction and its destination. 

Later, the destination can cash the Check to receive up to the specified amount. The actual movement of money is only confirmed once the Check is cashed.

Revolutionary amendment

At press time, this amendment is still vetoed by 8 validators. Six of them are associated with Ripple.com. Peers Island and Rabbit Kick supported the position of Ripple, Inc.

XRP community enthusiasts noticed that, if this amendment passed, it would be the first one vetoed by Ripple Inc. but finally implemented in XRP transactions.

Image via Twitter

So, the confirmation of this proposal would strengthen the decentralization narrative around XRP. Also, it could establish a precedent for further amendments to the protocol.

According to the XRP Scan, this referendum will be closed on June 18th, 2020 at approximately 12:12 AM UTC.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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