According to the XRPScan service, the decentralized blockchain XRP Ledger has reached a historic milestone, successfully closing the 72 million ledger.
A few hours ago, XRP Ledger successfully closed the 72 million register. Many thanks to everyone who maintains and manages the network: https://t.co/rNYF9HJKht pic.twitter.com/eGz89gczXA.
— XRPScan (@xrpscan) May 30, 2022
XRP Ledger – or XRPL – is a decentralized, open-source, uncontrolled blockchain to which anyone can contribute, develop and execute transactions.
XRPL uses a consensus algorithm in which designated servers are called validators , come to an agreement on the order and results of XRP transactions every 3-5 seconds.
To prevent malicious manipulation of a distributed database, its integrity is under the control of validator nodes, which enjoy the trust of the majority of network participants, and each of which stores its own copy of the registry, independent of other nodes.
Any changes that may affect transaction processing or consensus must be approved by at least 80% of network participants.
Each user has his own UNL “Unique Node List” (Unique Node List), which he trusts, including validators, and the circle of persons (economic agents) and currencies within which he wants to operate.
Validators monitor each other, constantly comparing their versions of the registry until a qualified majority is reached. Consensus is the final phase of each trade. Transactions that are consistent with a qualified majority of validator nodes are considered confirmed. This is a commit of both a specific transaction and the latest version of the ledger (LCL).
Currently in the registry more than 150 validators managed by universities, exchanges, businesses and individuals, including Ripple. Of these, 35 are on the list of unique nodes – Ripple runs 6 of these nodes.
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