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Ripple ’s Chief Technology Officer, David Schwartz, has proposed that XRP Ledger ( XRPL ) validators consider implementing an automated market maker ( AMM ) feature only if there is consensus within the community. In a recent tweet thread, Schwartz acknowledged AMM s as an intriguing aspect of decentralized finance. However, he cautioned validators against unilaterally voting to implement AMM capabilities on the XRPL . In general though, validators shouldn't vote YES individually. The community should make a decision and then validators should nearly all vote YES when they believe the community is on board and enough nodes support the change. The amendment voting process is intended to… — David "JoelKatz" Schwartz (@JoelKatz) October 6, 2023 Schwartz talks about the possibility of AMM going live Schwartz noted that if a majority of validators back the change after perceiving community consensus, AMM functionality could go live within two weeks post-voti...

A new report from cryptocurrency market data provider Kaiko reveals that Ripple (XRP) has struggled to maintain its gains following a July court victory declaring it not a security. According to Kaiko’s Analysis , Ripple ’s XRP rallied in July after the favorable ruling, but its price plunged over 25% in August as traders took profits. Despite underperforming last month, XRP saw far higher trading volumes than other major altcoins. Also read: Crypto Casino Stake․com Reportedly Hacked For $41.3 Million XRP fails to sustain momentum following positive ruling Per the report, XRP’s $462 million average daily volume in August was four times greater than that of SOL and BNB, the next most traded tokens. Kaiko attributes this disparity to heavy selling pressure on exchanges like Upbit and OKX, alongside buying demand concentrating on U.S. exchange Coinbase. Kaiko also notes that XRP’s average trade size topped all 10 top altcoins on Coinbase in...

Also Read: Is Settlement Still In Scenario As Summary Judgment Closes In? advertisement US SEC Fighting With Wrong Claims? In a recent Op-ed published on Bloomberg law, Attorney John Deaton slammed U.S SEC Chair, Gary Gensler over his approach toward crypto with the Howey Test. He mentioned that back in 1946, the U.S. Supreme Court issued a vital decision in SEC Vs Howey. The court laid out a specific definition of what constitutes a security. The justices at that time wouldn’t have guessed how complex digital commerce be ahead, he added. Meanwhile, the SEC Chair holds his own idea of how cryptocurrency should be regulated today and it is taking it into a dangerous corner in the court. Read More XRP News Here… As per the Howey Test, a transaction is a security if it is an investment of money, in a common enterprise, with a reasonable expectation of profit derived from the efforts of others. Trending Stories ...