The Commotion Of The Crypto Community, Is It True That Ripple Will Burn XRP?

Illustration of XRP coins. (Photo; Doc. Cryptoactu)

JAKARTA The Ripple case has reached its end even though it is currently just waiting for the court's decision. In waiting for a decision from the judge, the Ripple community debated the possibility of reducing XRP tokens from their total supply in the burning or burning mechanism.

In a recent conversation on Twitter of the crypto community, they discussed XRP which was kept in an environment account by Ripple Labs. This is because this cross-border payment company plans to release XRP in the interest of balancing the market and also controlling XRP supply.

For information, an ecorow in crypto is a security mechanism aimed at ensuring that crypto assets will only be released or used after the fulfillment of certain conditions or conditions.

Matt Hamilton, a former Ripple executive, has considered a number of ideas about the possibilities that will arise following Judge Torres' decision. According to Hamilton, XRP stored in an environment is set to be sent to a specific address and the company can disable the main key to this designated wallet.

If this is done, funds in XRP form will not be accessible to anyone even if the funds are released to anECKrow account. In a process that is commonly used to burn or burn crypto, it means that the XRP that has been released cannot be accessed will be removed from circulation.

In his argument, Hamilton said, "Current Ripples can openly and possibly make their entire future crowd funds inaccessible even to themselves. For all intents and purposes, 'burn them up' (XRP)."

Meanwhile, a more than two-year legal feud between Ripple and US regulators of the Securities and Exchange Commission (SEC) has had an impact on the company's business. Especially regarding the use of XRP in Ripple's On-Demand Liquidity (ODL) services.