In a recent episode of Ripple’s on-chain economy series, Robert Kiuru, COO of XRPL Labs and Xaman Wallet, explains the next frontier of the XRP Ledger ecosystem: batch transactions.
In episode 8 of the Onchain Economy series, Kiuru explains how batch transactions will allow multiple actions to be executed together on XRP, allowing wallets and infrastructure providers to bundle services, charge fees and operate sustainably.
The XRPL Labs COO stated that, from his own perspective, batch transactions might unlock the new frontier for the XRP Ledger ecosystem.
This is because the batch transactions feature is expected to make it easier for developers to build apps that can generate revenue directly on-chain.
Kiuru mentioned the current scenario of a fairly fixed function ledger when it comes to the business side of things, that monetizing a product has been almost impossible. He believes that batch transactions would allow everyone to either take a fee or figure out a different angle to monetize their services.
Batch transactions
The XRP Ledger enables fast and efficient transactions without the need for complex smart contracts at every step. However, a key limitation exists: multiple transactions cannot be executed atomically. This means that if a complex operation requires several transactions, a failure in one can leave the system in an incomplete or unexpected state.
A batch transaction allows multiple transactions to be packaged together and executed as a single unit.
The batch transactions feature is expected to make it even easier for developers to build apps that can generate revenue directly on-chain.
The amendment will make it much easier to offer paid features, automate flows, build apps that generate revenue and prepare XRP Ledger to support serious financial apps.
Batch Transactions (XLS-56), introduced last year through the rippled v2.5.0 release, is still being voted upon, currently at 67.65% consensus, with 23 validators voting in support and 11 against.
For the amendment to enter activation timer, it must attain a majority, with 80% consensus from validators – that is, with 27 out of 34 voting in support.
Source: https://u.today/xrp-ledger-coo-mentions-key-focus-for-network-sustainability-details
