Flip The Chain
Lets Make Blockchain simple @ flipthechain.com
Published Oct 6, 2023
Let's dive into the reasons behind it! ๐คThe minimum balance of 10 XRP isn't a fee โ it's a reserve, ensuring every account on the XRP Ledger has a stake in the network and discouraging spam and misuse. ๐ก๏ธ Malicious actors can't flood the ledger with fake accounts, thanks to this requirement.
It aligns ledger growth with technology improvements so it remains manageable on current machines.๐ To create an account, an address must hold the minimum XRP required on the shared ledger.
You can't send this reserved XRP to others, but you can recover some by deleting the account.๐ The XRP Reserve requirement has two parts:
Base Reserve: The minimum XRP required for each address on the ledger.
Owner Reserve: An increase in the requirement for each object the address owns in the ledger, known as the incremental reserve.
๐ As of now, the reserve requirement on Mainnet is:
Base Reserve: 10 XRPOwner
Reserve: 2 XRP per item
Understanding these mechanics helps maintain the integrity of the XRP Ledger and ensures its efficient operation. Knowledge is power! ๐ก๐ช#XRP #Blockchain #CryptoInsights #ripple #crypto
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