The XRP Ledger (XRPL) has achieved a significant milestone by completing its 82 millionth ledger, setting a new record. This accomplishment demonstrates the XRPL’s emergence as a strong competitor to Ethereum, driven by its growing ecosystem and increasing adoption. Last year, the XRPL implemented a feature called XLS-20, which enabled the creation, ownership, and trading of native non-fungible tokens (NFTs) on the blockchain. This new standard also included functionalities such as automatic royalties, minting, and burning, making it easier for users to launch NFTs. With the help of the integrated decentralized exchange (DEX), XRPL’s NFTs now facilitate automated royalties, thereby improving the enforcement of royalty payments.
Following the introduction of XLS-20, approximately two million NFTs have been minted on the XRPL platform. Currently, there are 29,584 accounts holding a total of 1,655,534 NFTs. Additionally, 1,283,546 NFTs have been transferred or sold. These figures were provided by Bithomp, a platform that tracks XRPL accounts, to celebrate “NFT Day.”
The increase in NFT activity on the XRPL highlights its potential as a strong alternative to Ethereum. A report by Messari in the second quarter indicated that total NFT transactions were one of the few network activity parameters that experienced growth quarter over quarter. This rise positions XRPL as an attractive option to Ethereum and could drive faster adoption of XRP.
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