AD
AD
  • Anodos Finance has now been added as a Unique Node List operator on XRP Ledger.
  • XRP Price did not shift significantly despite the news.

On Tuesday, the XRP Ledger (XRPL) Foundation announced the inclusion of Anodos Finance to its Unique Node List (UNL). As a result, Anodos Finance is now one of XRPL’s 35 trusted validators to ensure stability and integrity on the network.

Relevance of the XRP Ledger Unique Node List

Typically, the UNL refers to a specific set of validator nodes or trusted participants in a blockchain network. For XRPL, the Foundation started working on its UNL three years ago to move away from earlier centralized models primarily supported by Ripple Labs Inc.

The addition of Anodos Finance to the XRPL’s UNL replaces the recently removed validator for the Digifin UK operator. The operator requested the removal, noting that it is ceasing infrastructure activities. Meanwhile, XRPL regularly updates the list of validators based on their identities, performance, and dedication to improving the network’s integrity.

In its official announcement, Anodos Finance said its addition to the UNL reinforces its commitment to the XRPL ecosystem. “Being part of the UNL means we are now one of the key players in maintaining the integrity and stability of the XRP Ledger. It’s a responsibility we accept with pride and excitement,” Anodos Finance added.

Users must first meet certain requirements, like having a robust infrastructure, to be included in the UNL. There is a need for interested validators to seek information about the amendment voting process. Likewise, validators must ensure transparency in their network. This stringent selection procedure guarantees that only the most trusted nodes get the duty of facilitating security and integrity within the XRP ecosystem.

It is important to note that the UNL concept is specific to certain blockchain networks. Other protocols like Bitcoin and Ethereum achieve consensus through the Proof-of-Work (PoW) or Proof-of-Stake (PoS) mechanisms.

Anodos Finance Embraces XRP

Reiterating Crypto News Flash’s earlier reports, the Anodos Finance team said XRPL’s efficient design makes it ideal for everyday payments and payroll. Panos Mekras, co-founder of Anodos Finance, disclosed that the firm has been compensating members with XRP since its inception.

He added that the company has strengthened its treasury with a combination of XRP and stablecoins. With this move, Anodos Finance demonstrates confidence in the XRPL as a pillar of its crypto and Web3 developments.

However, Mekras recently pointed out technical challenges impeding developers from building Decentralized Applications (dApps) on XRPL. According to him, these issues may prevent end users from utilizing the XRPL network. As previously reported by Crypto News Flash, he mentioned the built-in account abstraction as the path ahead for XRPL to gain mass adoption.

This update has not XRPL and Anodos Finance partnership has not shifted the price of XRP positively. At the time of this writing, XRP is trading at $0.5226, demonstrating a decline of 2.15% in the past 24 hours. Also, the market cap decreased by 2% to $28.8 billion, while trading volume decreased by 37% to $1 billion.

Subscribe to our daily newsletter!


          No spam, no lies, only insights. You can unsubscribe at any time.

This article is provided for informational purposes only and is not intended as investment advice. The content does not constitute a recommendation to buy, sell, or hold any securities or financial instruments. Readers should conduct their own research and consult with financial advisors before making investment decisions. The information presented may not be current and could become outdated.

Godfrey Benjamin is an experienced crypto journalist whose primary goal is to educate everyone about the prospects of Web 3.0. His love for crypto was sparked during his time as a former banker when he recognized the clear advantages of decentralized money over traditional payments. Business Email: info@crypto-news-flash.com Phone: +49 160 92211628

Exit mobile version