With the approval of the XRP Ledger network validators, the cost of creating an account in this protocol became 50% cheaper.
to the Report After weeks of voting to cut Ripple Ledger account creation costs, YouTube finally reduced the minimum balance required to create an account on the network from 20 to 10 “XRP”.
Ripple Ledger is a blockchain-like network in which XRP token transactions are recorded and managed. This protocol requires users to deposit a certain amount of XRP tokens to create a new account in order to prevent spam and other malicious attacks on the network.
If the network’s trusted validators agree to change the cost of creating an account in Ripple Ledger, the minimum balance required to create an account in this protocol can be reduced or increased. It will be necessary to adjust this rate when the price of XRP increases significantly.
According to the Ripple Ledger validation agreement, 2 XRP tokens are to be added to the storage account of each address. These addresses include payment channels, digital check issuers, trust lines, and other Ripple Ledger affiliates.
Also read: What is Ripple? All about Ripple and XRP
Ripple Technology Director David Schwartz had earlier, in late April, backed the idea of reducing the cost of building an account at Ripple Ledger.
Schwartz had said:
Personally from the necessary inventory reduction [برای ساخت حساب جدید در] I support Ripple Ledger from 20.5 to 10.2. With someone in [شرکت] Ripple I did not talk about this. Think about it, I probably should too [به آن فکر کنم]. This is my personal opinion.
An amendment passed by Ripple Ledger validators would make opening an account on the network twice as cheap, but a lack of deterrent regulation could increase the likelihood of DoS blocking.
Ripple Ledger validators voted in favor of the controversial plan to delete the network’s accounts in May. According to this plan, users can delete their account completely by paying 5 XRP tokens.
In April, Ripple Ledger also added the ability to create Light accounts with a minimum of 1 XRP balance on its network.