Any hope of enabling non-fungible tokens (NFTs) on Ripple’s XRP ledger will soon have to wait as XRPL Labs lead developer Vietse Wind temporarily withdrew his vote in support of the development on September 11.
An explainer recently found that a simple ‘flag’ (setting) on Minted NFTs can be misused, causing NFT issuers to lock down all their XRP due to third party actions.
Because of this discovery, I’ve removed the “yay” vote of @XRPLLabs validator temporarily.
— WietseWind — XUMM @ XRPL Labs (@WietseWind) 11 September 2022
According to Wind, a setting was discovered that could allow malicious players to abuse mined NFTs.
He added that the flaw could have caused NFT issuers XRP tokens to be “blocked due to third-party actions.”
The problem essentially lies with the collection of royalties for mined NFTs. Normally, the issuer will get a percentage on each secondary sale of NFTs. But XRPL requires that the issuer must have a trust line.
While this is nice and prevents spamming, it can have a serious impact on NFTs. The current XLS-20 specification has a drawback: if the flag is set to NFT, a trust line will be created automatically for the NFT issuer.
But the sale can happen without the knowledge of the issuer and in that case, lock the account reserve.
“Once an NFT is mined and sent/sold with lsfTrustLine + transfer fees, it can then be sold between two or more accounts from an attacker, leading to more and more trust lines for random shitcoins issued by the attacker. can be made.”
Pawan said that now means the XLS-20 amendment could lose the majority. However, he argued that this was the best thing to do and would give time to rectify the problem and vote again.
Wind revealed that the bug was identified by xTokenize.
Withdrawing that crucial vote from the XLS-20 amendment means plans to upgrade XRPL to make NFT mining possible will have to wait. According to Wind, “it’s not “XLS20 goodbye”: it’s “XLS20 see you later”.
Credit : cryptoslate.com