NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Ripple CTO Reveals Facts About Present XRP Burn Debate

Eli Dambel
Eli Dambel
2 years ago
3 mins read
Ripple (XRP)

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

The Chief Technology Officer (CTO) of Ripple, David Schwartz, has provided valuable information about the ongoing debate surrounding the burning of XRP tokens.

The debate about burning XRP tokens has been hot within the XRP community, and Schwartz’s insights shed light on the XRPL’s governance structure and the decentralized nature of the network.

The discussion primarily revolved around the authority and decision-making process concerning the XRP held in escrow and the role of validators on the XRP Ledger (XRPL).

Burn Debate Insight From Schwartz

Schwartz highlighted the importance of understanding the fundamental principles and mechanisms behind the XRPL. He explained that the XRPL operates on a consensus protocol where validators, distributed across the network, play a crucial role in maintaining the ledger’s integrity. And validators are responsible for verifying transactions and reaching a consensus on the XRPL.

Related Reading

A Salvador Dali mask facing the Ledger logo

Ledger Scam: Scammers Mail Hacked Ledger Devices To Steal Crypto

4 years ago

Regarding the burning of XRP tokens, Schwartz emphasized that the XRPL’s design does not include a built-in mechanism for burning XRP.

The CTO also stated that changes to the XRPL’s code are governed by a decentralized process, ensuring that all participants have a voice in determining the network’s future.

So altering the XRPL’s code to incorporate such a feature would require extensive consensus and agreement from the majority of validators, around 80%.

One of the key points raised during the conversation was the claim made by an XRP community member, suggesting that the XRPL would become a permissioned network if validators had the power to determine the fate of the XRP in escrow.

This statement sparked a significant amount of discussion within the XRP community, as the decentralized nature of the XRPL has always been a critical aspect of its design.

Regarding that, Schwartz clarified that while validators play a crucial role in the XRPL’s consensus process, the network’s nodes can accept or decline amendments voted into effect by validators.

This system ensures that the power to influence the fate of the XRP held in escrow is not concentrated solely within the validators’ hands.

Instead, it allows for a decentralized decision-making process that considers the perspectives and interests of various participants.

XRP Price Dips In Recent Days

Amid the discussion in the community, the token’s price has experienced a minor decline in recent trading sessions. Over the past seven days, XRP’s price has seen a marginal decrease of 0.56%, indicating a relatively stable trend.

Ripple CTO Reveals Facts About Present XRP Burn Debate
XRP price falls on the chart l XRPUSDT on Tradingview.com

Within the past 24 hours, the coin has witnessed a slight downward movement, with a decline of 1.36%. This modest dip reflects the current volatility in the token market.

Related Reading: DOJ Crypto Task Force Goes After DeFi Hackers As Illicit Activity Soars

The coin is changing hands at $0.422, with a market cap and a 24-hour trading volume of $21,883,129,482 and $765,847,908, respectively.

Featured image from Pixabay and chart from Tradingview.com

Tweet123Share196ShareSend
Eli Dambel
Eli Dambel

Eli Dambel

Eli brings an eclectic point of view to market analysis. Currently, he writes about various asset classes, including Crypto and Stocks. Eli has been writing crypto oriented content for almost 6 years now and he is a hard core believer in Blockchain and is confident that it can reform the traditional financial system. He also thinks Bitcoin will become universal currency in the near future.

Read more

You can follow Eli on Twitter: @EliDambel

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

XRP koers kan 78% stijgen na wedge breakout

XRP koers kan 78% stijgen na wedge breakout

De Ripple koers heeft recentelijk de nodige volatiliteit ervaren, met een opwaartse trend. Een uitbraak boven een dalend wedge patroon...

Lars Diederiksen 1 day ago
XRP Price Recovery Fades

XRP Price Prepares for Possible Bounce — Support Levels In Focus

XRP price started a decent upward move from the $2.20 zone. The price is now correcting some gains and might...

Aayush Jindal 1 day ago
XRP Price Moves Up

XRP Price Moves Up — Hurdles Ahead Could Limit Gains

XRP price started a decent upward move from the $2.150 zone. The price is now consolidating gains and might face...

Aayush Jindal 2 days ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

XRP

Pundit Predicts XRP Price Will Surge 35,000% When These Two Things Happen

Scott Matherson 1 minute ago
XRP

XRP’s Time Is Now, Says Pundit—Don’t Snooze On The ‘Biggest Transfer Of Wealth’

Christian Encila 18 hours ago
XRP

XRP’s 30% Jump To $2.8: Analyst Says This ‘Classic Confirmation’ Must Happen First

Scott Matherson 1 day ago

Premium Sponsors

Press Releases

  • XRP Cryptocurrency × Dogecoin Mining: HASHJ launches...

    51 minutes ago
  • Koja kriptovaluta ima veći potencijal za stvaranje milijunaša XRP ili Shiba Inu

    Koja kriptovaluta ima veći potencijal za stvaranje...

    5 hours ago
  • 3 altcoina koje vrijedi pratiti u prvom tjednu srpnja 2025

    5 hours ago
  • XRP Bulls Are Soaring — FINDMINING Rides the Wave to...

    11 hours ago
  • $AIN Expands to 7 DEXs as AI Network Activates Omnichain AI...

    11 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.