Ripple has announced another breakthrough in the development of a highly efficient NFT system on the XRP ledger. The XRPL is capable of handling multiple connections to different entities.
NFT Tests Successfully Performed
In a recent tweet, the company announced that development of the new support system is complete. This follows a proposal called the XLS-20, which recommended enabling native NFT support on the ledger (ledger).
Ripple also announced plans to publish the test results for anyone to analyze. A detailed description of the test methods and test results can be found here† The descriptions include the testing environment, screenshots of the active code and the various workloads involved in testing (XRP payments, NFT offerings, NFT mining, and a mix of payments and offerings).
What do these tests involve?
The test involved measuring NFT throughput by creating one million accounts. Each of these accounts was charged with minting 20 NFTs, bringing the total to 20 million NFTs. To measure throughput, a bid for each NFT was made and then accepted, executing two trades. The workload was completed within 751 seconds.
Another test was conducted by mixing XRP payments with NFT offers and their acceptance. This resulted in 4 trades, 2 XRP payments and a few offer and acceptance trades. This workload took 1,064 seconds.
While the good news introduces high-level scaling solutions for the XRPL, it remains to be seen how the system will actually be implemented. Still, the Ripple community seems happy with NFT support on the system.
XRP will be the native currency for buying or selling NFTs on the XRPL. This will be able to significantly increase the coin’s capacity and acceptance. XRP has also been adopted on RippleNet, where various financial institutions can initiate fast and cross-border transfers using XRP as the base currency.