Ripple-funded blockchain startup XRPL Labs has announced that it is close to releasing a new upgrade for its XRPL-based banking application XUMM. This was mentioned in a statement issued by the platform’s lead developer Wietse Wind in a tweet.
Wietse said the XUMM 0.4.0 is undergoing test and should be ready for release by next week. The new upgrade according to him comes with a new feature.
βTesting XUMM 0.4.0 for the release (next week). Feature: “Explain my balance” (XRP ledger account reserve breakdown),β Wietse noted.
Wietse added that henceforth, users will be able to see their spendable balance on the XUMM application.
βYour full balance + reserve can be checked with the “Explain my balance” button on the home screenβ.
XUMM will show the *spendable* balance from now on. Your full balance + reserve can be checked with the "Explain my balance" button on the home screen.
— WietseWind { π‘ππππ³ππ: ππππ } (@WietseWind) May 2, 2020
Wietse Wind Declares XUMM Full Release Date
Meanwhile, the lead developer, while responding to some questions he did not answer during the last XRP meetup, declared a probable period for the full release of the XRPL-based banking application.
In the next 1 to 2 months, XUMM full release will be out, Wietse mentioned when asked about upgrade on the beta state of the application.
https://t.co/kn5CSJlIVE pic.twitter.com/nkc5w6N0L6
— WietseWind { π‘ππππ³ππ: ππππ } (@WietseWind) May 1, 2020
Wietse gave the same response when a user of the XUMM application asked when it would be appropriate to store a huge amount of XRP on the application as against a warning the developer issued when the application was first launched.
When asked about the issue of KYC, he said a redirection would be done to a β3rd party provider doing the actual custody & requesting KYC.β
He further said in the future, a collaboration with KYC/online ID provider may be required.
Most likely a redirect to a 3rd party provider doing the actual custody & requesting KYC. It'll be account linking / oauth-like flow. Maybe in the future we can all team up with KYC/online ID provider(s) and share data / respect verification levels, but… Will that be compliant? pic.twitter.com/GRYSNBNyOE
— WietseWind { π‘ππππ³ππ: ππππ } (@WietseWind) May 1, 2020
The XRPL Labs is a Ripple-supported initiative purposely established to help develop the XRP ecosystem with numerous use cases. Via the firm, a number of intriguing applications have been launched.
