Former Ripple CTO David Schwartz has highlighted the XRPL network's stability ahead of the highly anticipated v3.2.0 upgrade, as validators begin migrating to the newly renamed xrpld server. Schwartz temporarily took his XRPL hub offline on June 17, 2026 to complete the software upgrade, sharing performance data from the past month that showed the network remained stable with minimal disruptions. According to Schwartz's latest reports, the hub was back online and operating normally after the maintenance, with total downtime extending to nearly 18 minutes due to the XRPL software taking about five minutes longer than expected to shut down cleanly.
Former Ripple CTO David Schwartz has challenged the popular comparison between stock markets and prediction markets as casinos, arguing that this perspective ignores fundamental economic differences. According to reports from X, Schwartz entered the debate on June 17, 2026, responding to users who argued that 'trading' serves as a polished cover for placing bets. The exchange began when X users claimed that prediction markets and stock markets operate like casinos, with their core argument being that 'trading' serves as a euphemism for gambling.
Schwartz separated the two activities by their economic function, stating that gambling moves existing value between participants while investing generates new value. As reported by X, he explained that "A key way to see the difference is this: If you have positive expected value in gambling, something has gone very wrong. If you have negative expected value in investing, something has gone very wrong." The logic works symmetrically, with a gambler who consistently beats the house revealing a system flaw, while an investor who consistently loses in a functioning market faces problems with their approach or the market itself.
The v3.2.0 release includes the fixCleanup3_2_0 amendment, which delivers bug fixes and performance improvements across several network features. According to Schwartz, the update addresses areas including Single Asset Vaults, the Lending Protocol (XLS-66), decentralized exchange operations, Multi-Purpose Tokens (MPTs), and permissioned domains. One of the most notable changes is the renaming of the core server software from rippled to xrpld, along with new binary names, configuration files, service names, and default system paths. Network data shows that approximately 14% of XRPL nodes have already upgraded to v3.2.0, with the release expected to reduce node memory usage by as much as 40% while supporting greater scalability for tokenization, payments, and emerging blockchain applications.
