David Schwartz, former CTO of Ripple and one of the core developers of the XRP Ledger (XRPL), shared a proposal to introduce a transaction reservation system. This comes as some have raised concerns about front-end and sandwich attacks on the network’s decentralized exchange and automated market makers.
Former Ripple CTO David Schwartz is involved in fixing front-end attacks on XRP Ledger
Members of the XRP community have raised concerns about how validators and well-connected nodes display transactions in the pre-validation queue. This allows them to analyze pending trades, determine profitability, and spam multiple transactions to create favorable positions on the XRP Ledger (XRPL).
While XRPL executes transactions in mixed orders to discourage pre-running, some have claimed that the protection is not sufficient. Users who execute trades on Decentralized exchange (DEX) or automated market makers (AMMs) may suffer slippage due to sandwich attacks.
Former CTO of Ripple, David Schwartz He said “I’m not worried about that problem. But I have a suggestion for a fairly simple scheme that would eliminate this attack.”
He proposed a transaction reservation scheme designed to ensure that transactions are executed before they are revealed on the chain. ReservedTxns, is the new ledger object, which will contain a set of transaction IDs for a specific future ledger.
Additionally, Ripple’s former CTO introduced a new transaction type, TxnReserve, which users submit to reserve a slot by paying at least double the normal transaction fee. Reservations are limited to the following 16 notebooks and a maximum of 32 slots per notebook to maintain efficiency.
David Schwartz, CTO of Ripple, explains how reserved transactions will work
Once a slot is reserved, the transaction is only broadcasted after the previous ledger’s consensus set is known, said David Schwartz, former CTO of Ripple. This prevents frontal attacks. Booked transactions are then executed first in the order in which they were booked, before other transactions in that ledger.
Schwartz added that the success of the deal depends on various factors. This includes fees double the normal transaction fees and normal transaction execution requirements.
Moreover, it has built-in denial of service (DoS) protection. “This is mitigated by the fact that they will have to pay on an ongoing basis and others can simply wait out the attack,” added David Schwartz, Ripple’s CTO.
XRP price amid vote to upgrade XRP ledger
XRP price continues to move in the range of $1.03 – $1.05 over the past 24 hours. Moreover, trading volume has increased by 25% in the last 24 hours, indicating high interest among traders as The United States and Iran suspend strikes.
CoinGlass data showed buying in the derivatives market. Total open interest in XRP futures jumped 0.80% to $2.36 billion in the past four hours. XRP futures on CME and Binance rose more than 0.75% and 1.36% amid… XRP Ledger 3.2.0 upgrade.
Crypto analyst Tony shared the weekly XRP price chart. He noted that the price is moving near inflection points and risks a possible fall of 30% below the current level.
