Chainalysis has announced a significant extension of its support for the XRP Ledger (XRPL), a pioneering public blockchain that has been operational since 2012. Recognized for its exceptional speed in cross-border payments and low transaction costs, XRPL has successfully processed over 3.3 billion transactions across more than 90 million blocks. Its native cryptocurrency, XRP, remains a top 10 token by market capitalization, backed by a robust and engaged global community. The network’s reliability is further ensured by nearly 200 validators, including Ripple, a leading contributor.
This enhanced integration by Chainalysis delivers tremendous value by extending support beyond the native XRP token to include automatic recognition and analysis of a diverse range of tokens on XRPL. This encompasses fungible tokens (IOUs), innovative non-fungible tokens (XLS-20), as well as versatile multi-purpose tokens (MPT) comparable to ERC-1155 standards. Presently, Chainalysis supports over 260,000 XRPL tokens, with this comprehensive coverage expanding daily as new tokens are minted. For traders, investors, and developers, this means unparalleled visibility, streamlined analytics, and actionable insights across an expansive and evolving token ecosystem on one of the blockchain industry’s most established networks.
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