Ripple’s XRPL NFT plan suspended as developer finds rendering error

Ripple’s XRPL NFT plan suspended as developer finds rendering error


Any hope of enabling non-fungible tokens (NFTs) on Ripple’s XRP ledger soon will have to wait as Wietse Wind, lead developer of XRPL Labs, temporarily withdrew its vote to support development on 9/11.

According to Wind, a setting has been discovered that could allow malicious players to abuse minted NFTs.

He added that the flaw could also lead to β€œthe shutdown of the XRP token of NFT issuers due to the actions of third parties.”

The problem mainly lies in the collection of royalties for NFTs. Typically, the issuer will receive a percentage of each NFT secondary sale. But XRPL requires the issuer to have a line of trust.

While this is a good thing and prevents spam, it can have serious implications for NFTs. The current XLS-20 specification has a flaw: if a flag is set to NFT, a trust line is automatically generated for the NFT issuer.

But the sale can happen without the knowledge of the issuer, in which case, the account reserve is closed.

β€œThe NFT minted and sent/sold at once with lsfTrustLine + Transfer Fee can then be sold between two or more attacker accounts, causing more and more lines of trust to be created for the random currency issued by the attacker.”

Wind said that now means the XLS-20 modification could lose the majority. However, he said it was the best thing and would give time to correct the problem and vote again.

Wind revealed that the error was identified by xTokenize.

The withdrawal of this decisive vote from the modification of the XLS-20 means that the XRPL upgrade plan to make the minting of the NFT possible will have to wait. According to Wind, “This is not an ‘XLS20 Goodbye’: this is an ‘XLS20 See you later’.”

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