- XRPL recently reduced reserve requirements for using the blockchain network.
- Ripple CTO David Schwartz said that the changes were necessary but slightly aggressive.
- XRPL CEO Daniel Keller claims that the reserve reduction was long overdue.
Ripple’s blockchain network, XRPL, just lowered reserve requirements for using the XRP Ledger blockchain. Ripple CTO David Schwartz and XRPL CEO Daniel Keller talked about the changes with the XRP community as the altcoin climbed above $2.50.
Schwartz Addresses XRPL Voting Mechanism Concerns
On X (formerly Twitter), Schwartz said XRPL’s voting mechanism, designed for coordinating features, isn’t ideal for governance. It can govern, Schwartz said, “but not particularly well.” Only active validators participate in voting, and sometimes, validators can be inactive. This can cause instability when decisions are close.
To fix this, Schwartz suggested requiring validators to actively choose to vote on reserve increases. He also wants a default neutral position for reserve preferences. This would make the process more predictable and avoid unintended outcomes.
XRPL Reduces Reserve Requirements for Users
It is important to note that XRPL lowered the reserve requirements to use the blockchain. The new numbers are 1 XRP base reserve per account (down from 10 XRP) and 0.2 XRP owner reserve increment per item (down from 2 XRP). The base cost to send a transaction (10 drops) stays the same.
Schwartz said the XRPL reserve reduction was needed but maybe a bit aggressive. He stressed the need for careful reserve changes. Raising reserves limits XRP liquidity and could look like unfair influence. However, reducing reserves unlocks XRP for all accounts immediately, which helps users without hurting network security.
XRPL CEO Weighs In on Reserve Changes
CoinMarketCap data shows XRP is up 4.11% in the past 24 hours and trades at $2.51. In the last 30 days, prices increased by a massive 140.18%. These changes for the XRP community and XRPL users could push the altcoin towards $3 soon.
Read also: Ripple’s RLUSD Stablecoin Approved, XRP Climbs 15% This Week
XRPL CEO Daniel Keller said on X that validators are key to protecting the network from bad decisions. He called them “the last line of defense for the network.” He praised validators for prioritizing risk management over their own ideas of “good” or “bad” changes. He also said the reserve requirement reduction was a long time coming.
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