Cryptocurrency

Ripple’s XRPL NFT plan on hold as developer finds fault in proposal

Zegex

Hopes for Non-Fungible Tokens (NFTs) to be enabled on Ripple’s XRP ledger have been put on hold soon after XRPL Labs lead developer Wietse Wind temporarily withdrew his vote in favor of development on Sept. 11. I have to.

According to Wind, a configuration has been discovered that allows malicious players to exploit NFTs created.

He added that the flaw could also cause the NFT issuer’s XRP token to be “locked by the actions of a third party.”

The problem essentially lies in collecting royalties for minted NFTs. Usually the issuer gets a percentage for each secondary sale of her NFTs. However, XRPL requires the issuer to have a line of trust.

This is a good thing and prevents spam, but it can seriously affect NFTs. His current XLS-20 spec is flawed. A trust line is automatically created for the NFT issuer if the flag is set on his NFT.

However, a sale may occur without the issuer’s knowledge, in which case the account reserve will be locked.

“NFTs once issued and sent/sold at lsfTrustLine + transfer fees can be bought and sold between two or more accounts of the attacker, increasingly against random shitcoins issued by the attacker. Many trust lines may be created.”

Wind said it meant the XLS-20 amendment could lose the majority. However, he argued that this was for the best and would give him time to fix the issue and re-vote.

Wind clarified that the bug was identified by xTokenize.

Withdrawal of that critical vote from the XLS-20 amendment means plans to upgrade XRPL to enable mining of NFTs will have to wait. “, not “XLS20 See you later”.

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