XRPL to Implement Major Upgrade on October 5: Adding Permission Delegation Feature

XRPL to Implement Major Upgrade on October 5

A countdown is underway for the activation of a significant upgrade called "PermissionDelegationV1_1" on the XRPL (XRP Ledger), which aims to greatly enhance the network's usability and security.

If support from over 80% of validators is maintained, it is expected to officially go live on October 5. The main proposal for XRPL, "PermissionDelegationV1_1," has entered a 14-day activation period after the support rate from trusted validators reached the threshold.

Current Support Status:
Out of 35 trusted validators, 29 have shown support, clearing the condition of over 80% support (more than 28 validators).

Activation Timeline:
If the support rate continues to be maintained, it will automatically be activated on the mainnet around October 5.

Conditional Schedule:
If the support rate falls below the standard during the countdown period, the timer will reset. Therefore, continuous approval from the entire community is essential for the final implementation.

How Account Control Changes with Permission Delegation Feature

The newly introduced "PermissionDelegationV1_1" is a feature designed to make the management of XRPL accounts safer and more flexible.

Traditional Challenges and Improvements

Previously, when delegating wallet management to external systems or employees, one had to either share complete control (private keys) of the account or operate under insufficient functional restrictions. However, with this feature, it will be possible to delegate only specific operational permissions to another account while securely protecting the main private key.

Specific Use Cases

Corporate and Organizational Operations:
It is possible to grant operational accounts the authority to execute daily payments without giving them the right to change the main account's private key.

Stablecoin Issuers:
Online systems conducting customer identity verification (KYC) and compliance operations can be completely separated from the management of sensitive master keys.

Limitation of Permissions:
Delegated accounts can be granted up to 10 limited permissions, which can be modified or revoked at any time afterward.

Revised Version Overcoming Past Bugs and Ensuring Security

The implementation of this permission delegation feature is actually the second attempt.

In the initial proposal, permission checks were conducted before signature verification, leading to a flaw where fees were charged even for failed transactions. If exploited, this raised concerns that attackers could deplete the XRP of targeted accounts through spam attacks, prompting community testers to point out the issue, resulting in the previous implementation being shelved.

The current revised version (V1_1) and the latest software "xrpld 3.3.0" have improved the mechanism to ensure that signatures are verified before fees are charged, thereby ensuring security and safety.

Expansion of Use Cases for Institutional Investors and Other Updates

The addition of the permission delegation feature is an important milestone in the evolution of XRPL into a financial infrastructure for institutional investors. It directly addresses the needs of financial institutions and companies seeking advanced account control, such as tokenization of RWA (real-world assets) and on-chain lending.

Additionally, related protocol proposals such as "XLS-65," which introduces a single asset vault, and "XLS-66," which enables fixed-term loans using it, are being discussed within the XRPL ecosystem, steadily advancing the development of next-generation financial tools utilizing public blockchains.

If the upgrade on October 5 is successfully completed, the safety and usability of XRPL for corporate use will be significantly enhanced. The developments of validators in the future will be closely watched.

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