XRP’s X address format got a new user after FixedFloat Exchange announced its support for XRP’s new X address format, which is free of target tags and wallet address issues. FixedFloat is an exchange that deals with converting digital assets almost instantly with no hassle and also facilitates transfers over the Lightning Network.
Members of the XRP community had a problem with Coinbase and other exchanges a few months ago due to “lost XRP”. The reason for this drama was the mix-up between a target tag and a wallet address, resulting in a loss of funds. Wietse Wind then went to Twitter to explain how the funds weren’t actually lost. Learning from the mistakes of its peers, Poloniex added target tags to avoid confusion and escalate the mishap.
The resulting confusion and the “loss of money” led to the conception of an idea – the X address format. The X address format was conceived by Nik Bougalis, Ripple’s C ++ team leader, and developed with the help of Wietse Wind, Elliot Lee and Nicholas Dudfield.
The X address format replaces the use of a separate address and destination tag with a single address starting with ‘X’. On the official website, the standard XRP wallet address can be encoded and decoded into a new format.
Although there is no official announcement from FixedFloat Exchange, the platform supports the new X address format.
Wietse Wind, creator of the X address library, spoke to AMBCrypto about the adoption messages.
“It’s great to see platforms and companies improving XRPL integration by adopting a new XRP address.”
Wind also mentioned that he had already made this function available to XRParrot, XRPTipBot and others, apart from accepting the new address through the exchange, and that he was “passively pushing for their acceptance”.
Wind added that Ripple supports the X address format by adding it to the official ripple lib.
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