Ripple could be forced to burn all of its XRP holdings if the community decides to vote for it. David Schwartz, the company\u2019s CTO, confirmed this.David Schwartz, Ripple\u2019s chief technology officer, has admitted that the community could force the company to burn its 48 billion XRP tokens, regardless of whether Ripple agrees with the decision or not.Ripple currently owns half of the total XRP supply and has come under fire in the past for selling out tokens. In a Twitter thread, Schwartz confirmed that the community could vote for Ripple to burn XRP tokens, saying the blockchain is \u201cvery democratic.\u201dThere would be nothing Ripple could do to prevent this.Changes in the XRP ledger require an 80% approval rate from the ledger\u2019s validators. In June, the validators of the XRPL voted for the adoption of a new amendment, known as the \u201ccheque amendment,\u201d without Ripple\u2019s support.The change introduces users\u2019 ability to issue checks to each other for a predetermined amount of XRPL that can be redeemed at a later time.In November last year, Stellar reduced its total coins from 105 billion XLM to 50 billion.At that time, Schwartz publicly opposed Stellar\u2019s coin burning. When Stellar burns more than 50% of XLM tokens, Schwartz wrote:Too bad XRP is decentralized or someone could just burn half the supply and raise the price to 29 cents.- David Schwartz (@JoelKatz) November 8, 2019How would the XRP Price react if Ripple burns its tokens?In December 2017, Ripple created 55 Escrows with 1 billion XRP each. One of these 1 billion Escrows would expire every month and return the 1 billion XRP to Ripple. Ripple could then use this XRP or put a certain amount into a new escrow account.There are Ripple accounts that currently hold 51,794,328,522 XRP, which, according to Adam Riese, means that there are\u2026<\/p>","protected":false},"excerpt":{"rendered":"
Ripple could be forced to burn all of its XRP holdings if the community decides to vote for it. David Schwartz, the company\u2019s CTO, confirmed this.David [\u2026]<\/span><\/p>","protected":false},"author":0,"featured_media":2796,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/afluxcoin.com\/ru\/wp-json\/wp\/v2\/posts\/2919"}],"collection":[{"href":"https:\/\/afluxcoin.com\/ru\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/afluxcoin.com\/ru\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/ru\/wp-json\/wp\/v2\/comments?post=2919"}],"version-history":[{"count":0,"href":"https:\/\/afluxcoin.com\/ru\/wp-json\/wp\/v2\/posts\/2919\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/ru\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/afluxcoin.com\/ru\/wp-json\/wp\/v2\/media?parent=2919"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/afluxcoin.com\/ru\/wp-json\/wp\/v2\/categories?post=2919"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/afluxcoin.com\/ru\/wp-json\/wp\/v2\/tags?post=2919"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}