XRP Validators Approve Deletable Accounts Feature for Ripple Network


Ripple deletable accounts feature went online on the XRP Ledger on Friday with 80% of the Ripple-approved validators support.

11 May, 2020 | AtoZ Markets – Ripple’s XRP operates on a distributed ledger. “An XRP ledger account represents an XRP holder and a transaction sender”, said XRPL. Ripple network validators have approved a new feature for the XRP ledger which is Deletable Accounts. This new functionality came into effect on May 8 after obtaining 80% majority support from XRP validators.

“The amendment to the XRPL deletable accounts was activated on May 8, 2020, at 4:29:30 UTC, through the XRP ledger 55.313. 921. It was after maintaining an 80% consensus during the 15-day mandatory voting period, “said former XRP director Arturo Portilla.

Ripple Users Can Delete Accounts on the XRP Ledger

It will essentially allow users of the XRP ledger to delete their accounts. This feature was first offered by Nik Bougalis, crypto and software engineer from Ripple. The XRPL announced, “only the owner of an account can delete it, though, since you have to send a transaction from the account to be deleted “.

XRP users now have two wallet options, “deletable accounts” and “non-deletable accounts”, said Portilla. He also clarified that accounts swallowed up in certain functions, such as escrows accounts, for example, belong to the category of non-deletable wallet. Deleting a wallet means the account no longer exists in the current XRP ledger, although the ledger history still shows past wallet activity, the post said.

Users are usually required to deposit 20 XRP to open an account. Before activating this change, users could not recover these charges once they had decided to delete their accounts. With this feature, users can now receive at least 75% of their funds after deleting an account. Portilla said, “20 reserved XRP was released, 15 XRP was recovered and 5 XRP was burned as the transaction costs”.

With this feature Ripple Will Eliminate Spam Accounts

It is like Ripple is eliminating spam accounts.

The proposal for deletable accounts was first discussed in October of last year, with the main objective of eliminating suspicious accounts and recovering part of the funds. In February, Ripple CTO David Schwartz argued that this new feature would be useful in eliminating spam accounts. He also said that this feature “would build confidence in the ledger and ensure that XRPL continues to perform very well without downtime”.

In early May, Ripple released one billion XRP from its escrow wallet. The community always criticize Ripple due to its unusual token releases at the start of each month. But Ripple never disclose the reason behind its unusual token releases

Think we missed something? Let us know in the comment section below.

    Share Your Opinion, Write a Comment