Ripple Introduces XRP Ledger Version 1.2.0 With Upgrade Deadline of Feb. 27

Ripple, the firm behind the current third top crypto XRP, has introduced a major network upgrade of its XRP Ledger version 1.2.0, according to an official announcement on Feb. 13.

The XRP ledger is a decentralized cryptographic ledger that stores XRP and is powered by a network of peer-to-peer servers.

With the release of the Ripple's blockchain upgrade, servers will be able to automatically detect transaction censorship attempts and issue warnings of increasing severity for transactions, the announcement says.

The XRP Ledger version 1.2.0 includes a number of network amendments, including MultisignReserve Amendment, fixTakerDryOfferRemoval and fix1578 Amendments.

Released in June 2016, multi-signing is one of three ways to authorize transactions on XRP Ledger, along with regular keys and master keys.

According to the recent announcement, XRP Ledger server users should upgrade to the new version by Feb. 27 in order to ensure service continuity.

Those who are not running the upgrade 1.2.0 or greater will have their servers amendment blocked.

On Jan. 24, Ripple released its Q4 report, claiming that the company sold $535.56 million worth of XRP in 2018, while XRP token sales amounted to $129.03 million, which is equivalent to 0.24 percent of global XRP volume.

On the same day, crypto analytics firm Messari issued a report, alleging that XRP market capitalization might be overvalued by as much as $6 billion, suggesting that the "Actual" market cap could be overestimated by 48 percent.

At press time, XRP market cap amounts to $12.5 billion, according to data from CoinMarketCap.