Proposal to change to reserve for virtual currency XRP (Ripple)

XRP change proposal

It turned out that the decentralized ledger “XRP Leisure (XRPL)” of crypto assets (virtual currency) XRP (Ripple) has proposed changes related to the network. A project to provide Oracle functionality to flare networks, proposed by Network Varidata’s FTSO.EU.

The proposal is to change the rule that you must have at least 20 XRP to activate your XRP Leisure wallet. FTSO.EU has proposed lowering this standard to 10XRP.

As you can see at the # 47, we voted supporting @JoelKatz @WietseWind @alloynetworks to lower #xrp wallet activation to 10 xrp and (ie) trustlines to 2 xrp. #XRPCommunity retweet if you are with us! @sentosumosaba @MrFreshTime @Kevin_Cage_ @jungleincxrp @THEXRPBULLY @BankXRP https://t.co/6ZmFsVLutR

— Ftso.eu (@ftso_eu) May 10, 2021

XRP Leisure has introduced a reserve mechanism to prevent the ledger from expanding excessively due to malicious use. One of them is the “basic reserve” required for each address, which is currently set at 20XRP. XRP Leisure has a mechanism that allows Varidata to vote for changes in reserves.

Wietse, the founder of XRPL Labs, was funded by Ripple’s CTO, David Schwartz, and Ripple’s investment arm, RippleX (formerly Xpring), to lower this standard. Wind and others agreed.

The FTSO.EU has now expressed its support for another proposal. This is the content related to the “owner reserve” required according to the data held, such as information and processing on XRP leisure. It is currently stipulated that 5XRP is required for each item, but FTSO.EU has proposed to reduce this reserve to 2XRP. Wietse Wind also last monthtwitterHas shown their support for lowering to 2XRP.

Relation:What is virtual currency XRP (Ripple) | Related projects and future prospects

About flare network

FTSO.EU is a project to provide Oracle to the flare network. It plays a role in providing price data from multiple sources such as cryptocurrency exchanges and decentralized exchanges (DEX).

Flair Network is a RippleX-funded project aimed at implementing smart contracts for XRP leisure. It is planned to launch around June, and Spark tokens will be granted (airdrop) according to the amount of XRP held.

Relation: Token distribution for XRP holders, June ── Flare Network mentions mainnet launch date

Relation: What is Flare Network | The future of Spark tokens closely related to XRP (Ripple)

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