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XRP Ledger enables delegated account permissions without key sharing

The PermissionDelegationV1_1 amendment went live on Oct. 8 at ledger 107,524,865, allowing owners to grant specific transaction permissions while keeping primary signing keys in control.

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The XRP Ledger (XRPL) has added a new way for institutions to share account responsibilities without sharing their primary signing keys, according to CryptoSlate. The PermissionDelegationV1_1 amendment went live on Oct. 8 at ledger 107,524,865.

PermissionDelegationV1_1 lets account owners assign specific transaction permissions to other accounts, with owners able to modify or revoke delegated permissions without exposing their primary signing keys during routine operations. CryptoSlate says the update is designed to reflect a division of responsibilities similar to traditional finance.

CryptoSlate also notes that the delegated framework supports different levels of authority for roles such as treasury departments, compliance officers, and asset managers. It gives an example of a stablecoin issuer using one account for compliance tasks like approving counterparties, while a separate account executes payments.

The upgrade does not support custom spending limits or asset-specific delegation restrictions. CryptoSlate adds that XRPL developers warn against delegating PaymentBurn until fixCleanup3_4_0 activates, citing a potential flaw where authorized accounts could mint issued tokens in certain circumstances.

Latest closeXRP $1.334 ▼5.3%

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