Author Topic: [Ripple] TickSize is Now Available  (Read 1321 times)

liangran

  • Administrator
  • Jr. Member
  • *****
  • Posts: 79
    • View Profile
[Ripple] TickSize is Now Available
« on: February 23, 2017, 05:26:37 PM »
As predicted previously, the TickSize amendment became available on the Ripple Consensus Ledger yesterday afternoon (PST) in ledger 27841793 (2017-02-21T23:02:52Z).

The amendment changes the way RCL offers are ranked in order books, so that currency issuers can configure how many significant digits are taken into account when ranking offers by exchange rate.

Action Required
If you operate a rippled server and accept secure client connections, then you should upgrade to version 0.50.2 immediately. If you operate a rippled server but do not accept secure client connections, then you should upgrade to version 0.50.0 or higher immediately.

If you issue currency on the RCL, then please review documentation for the TickSize amendment to determine what tick size is appropriate for your issuing asset. If you take no action, your issued currency can still be traded using the default tick size of 15 significant digits, but Ripple strongly recommends setting a tick size between four and eight digits to provide faster price discovery and to decrease churn in the RCL order books for your currency. Ripple also recommends publishing your tick size policy to users.

If you trade on the RCL and have algorithmic trading bots, then please review documentation for the TickSize amendment to update your trading system to check the tick size for a given issuer.

If you have backend software which constructs and submits transactions related to the issuing of assets on the Ripple Consensus Ledger, then please review documentation for the TickSize amendment to adapt your software for correct usage.

Impact of Not Upgrading
If you operate a rippled server but don’t upgrade to version 0.50.0 or higher, immediately, then your server will become amendment blocked, meaning that your server:

Cannot determine the validity of a ledger
Cannot submit or process transactions
Does not participate in the consensus process
Does not vote on future amendments

Source: https://ripple.com/dev-blog/ticksize-now-available/