Ripple’s XRPL NFT plan on hold as developer finds fault in proposal
Any hope of non-fungible tokens (NFTs) being enabled on Ripple’s XRP ledger soon will have to wait as XRPL Labs lead developer Wietse Wind temporarily withdrew his vote in support of the development on Sept. 11. According to Wind, a setting that could allow malicious players to abuse minted NFTs was discovered.
The problem essentially is with the collection of royalties for minted NFTs. Normally, the issuer will get a percentage on every secondary sale of the NFT. But XRPL requires that the issuer should have a trust line. While this is good and prevents spamming, it could have dire effects on NFTs. The current XLS-20 specification has a flaw: if a flag is set on an NFT, a trust line would automatically be created for the NFT issuer. But the sale can happen without the issuer’s knowledge and, in that case, lock up the account reserve.
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