XRP Users Get Crucial Warning on Exchanges Amid Coinbase System Update

XRP users on exchanges have been issued a crucial alert as the XRP Ledger 2.6.2 update gets many nodes amendment-blocked.

In a tweet, XRPL dunl validator Vet pointed out to users that in case they experience service issues on crypto exchanges when using XRP, it is most likely because the exchange hasnl not updated its XRP Ledger Nodes to 2.6.2 or higher.

As reported, the deadline for XRP Ledger validators to upgrade to rippled version 2.6.2 was on Dec. 18, when “fix Directory Limit” amendment was activated.

As of early yesterday, Vet notified the XRP community that 45% of XRP nodes might get amendment-blocked because they run an old version of the XRP Ledger.

Amendment-blocking represents a security feature to protect the accuracy of XRP Ledger data. When an amendment is enabled, servers running earlier versions of rippled without the amendment’s source code no longer understand the rules of the network.

Rather than guess and misinterpret ledger data, these servers become amendment-blocked and cannot determine the validity of a ledger; submit or process transactions; participate in the consensus process; or vote on future amendments.

What happened? 

In a separate tweet, Vet indicated that major crypto exchange Coinbase earlier reported degraded performance processing deposits and withdrawals with the XRP Ledger network.

Vet noted that the time of Coinbase’s update coincided with the same time when the new fix amendment went live and blocked lower version nodes.

In this light, Vet urges XRPL users to keep their servers up to date on the software as they cannot use the network with nodes effectively if they do not update after an amendment gets passed because they will not be able to understand the new information available.

In a remarkable milestone, the first formal specification of the XRPL Payment Engine has now been published.

Coinbase system update

Coinbase crypto exchange revealed its systems update on Dec. 17. Coinbase’s system has been updated with stocks, prediction markets and millions of DEX assets from the Solana ecosystem, which are already live in the Coinbase app.

Coinbase has also introduced Coinbase Tokenize, an end-to-end platform for institutions to bring assets on-chain. Next year, the crypto exchange said it would be launching equity perpetuals by early next year for non-U.S. traders, making equities available 24/7 around the world.