Skip to content
Herald Sheets

Herald Sheets

Live Cryptocurrency News

Follow Herald Sheets on Twitter, Facebook, Telegram, Please Read Our Disclaimer

  • Homepage
  • Start Trading
  • Guide
  • Crypto News
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Ripple (XRP)
    • Dogecoin (DOGE)
    • Cardano (ADA)
    • Litecoin (LTC)
  • Analysis
  • Blockchain
  • Mining
  • Reviews
    • Brokers
    • Exchanges
  • Regulation
  • Press Release
  • About Us
    • Contact Us
    • Privacy Policy
    • Submit Press Release
  • Disclaimer
  • News
  • Ripple (XRP)

Ripple’s CTO David Schwartz on What Can Cause XRP to be Created, Destroyed, Frozen or Locked Out

Solomon Odunayo March 8, 2020 3 min read
David Schwartz Submits Proposal towards Adding NFT Support to XRP Ledger

The CTO at Ripple David Schwartz was in an impromptu conversation with two members of the XRP community a couple of hours ago. There, he was asked about what can cause XRP to be created, destroyed, frozen or locked out.

A user identified as BAAL, who seems to be a newbie in the crypto industry started the conversation with a sensitive question directed at David Schwartz and some experienced members of the XRP community.


trade now

In the tweet, he asked if the digital token XRP can be created, destroyed, frozen or locked out.

“Question from a newby. What can cause XRP to be created or destroyed besides the transaction protocol or forking? Can it be frozen/locked out?” BAAL asked.

In response to the question, Schwartz said there is no means for any software to create XRP. He furthered that users’ XRP cannot be locked by any third-party.

However, he said there is a possibility for holders to personally destroy their XRP tokens.

“There’s no mechanism in the software to create XRP and safeties to prevent it from being created by a bug or trick. There’s no freeze or lock for other people’s XRP since nobody would be entitled to that capability. You can easily lock or destroy your own XRP if you wish,” David Schwartz responded.

There's no mechanism in the software to create XRP and safeties to prevent it from being created by a bug or trick. There's no freeze or lock for other people's XRP since nobody would be entitled to that capability. You can easily lock or destroy your own XRP if you wish.

— David "JoelKatz" Schwartz (@JoelKatz) March 7, 2020

Another XRP enthusiast identified on Twitter as Breal asked the Ripple CTO if validators have the capability to burn XRP in the wallet.

“Could validators choose to burn Ripples escrow? Or, let’s say my xrp in my wallet?” Breal asked.

David Schwartz responded thus:

“No. Servers count the number of validators that agree with it. So such validators would just count as disagreeing, potentially halting the network if too many of them did this

Changing the rules or operating outside the agreed rules is effectively a hard fork. That requires everyone who wants to be on the side of the hark fork with the new rules to change their code.”

Trade Now

HeraldSheets.com produces top quality content for crypto companies. We provide brand exposure for hundreds of companies. All of our clients appreciate our services. If you have any questions you may contact us easily with Herald Sheets Facebook Messenger App. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors and the views expressed in them do not reflect the views of this website. Herald Sheets is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.

Continue Reading

Previous: Steemit’s Recent Reaction Questions What Justin Sun Presently Controls
Next: Litecoin Releases New Version of Litewallet for Android and iOS with Improvements

Related Stories

What is a Bear Trap in Trading and How Does It Work?
11 min read
  • Crypto Trading
  • Guide
  • News

What is a Bear Trap in Trading and How Does It Work?

August 13, 2022
All You Need To Know About Virtual Asset Service Provider (VASP)
11 min read
  • Cryptocurrency
  • Guide
  • News
  • Regulation

All You Need To Know About Virtual Asset Service Provider (VASP)

August 13, 2022
Animoca Co-Founder Says Web3 Requires More Developers For A True Decentralized Environment
3 min read
  • Cryptocurrency
  • News
  • Web3

Animoca Co-Founder Says Web3 Requires More Developers For A True Decentralized Environment

August 12, 2022

Top 10 Crypto

Name Price24H (%)
bitcoin
Bitcoin (BTC)
$24,638.00
0.48%
ethereum
Ethereum (ETH)
$1,992.74
1.56%
tether
Tether (USDT)
$1.00
0.37%
usd-coin
USD Coin (USDC)
$1.00
0.40%
binancecoin
BNB (BNB)
$328.62
0.88%
cardano
Cardano (ADA)
$0.59
8.86%
ripple
XRP (XRP)
$0.383206
0.76%
Binance USD
Binance USD (BUSD)
$1.00
0.30%
polkadot
Polkadot (DOT)
$9.39
-0.71%
dogecoin
Dogecoin (DOGE)
$0.074441
1.92%

Recent Posts

  • What is a Bear Trap in Trading and How Does It Work?
  • FxCapital360 Review – Is FxCapital360 Scam or a Proper Broker?
  • All You Need To Know About Virtual Asset Service Provider (VASP)
  • Animoca Co-Founder Says Web3 Requires More Developers For A True Decentralized Environment
  • Nvidia Launches New Developer Tools To Up Its Metaverse Bet
  • Velocity Trade Review – Is Velocity Trade Scam or a Proper Broker?
  • Blockchain vs. Database: How Do They Differ?
  • Paper Wallets: How To Secure Your Crypto Assets
  • New Report Says Nigeria Has Become the Most Crypto-obsessed Country
  • Institutional Demand for BTC Is Insatiable, Says Kevin O’Leary
  • Money-Laundering And Wash Trading In NFTs – All You Need To Know
  • Alfabtc Review – Is Alfabtc Scam or a Proper Broker?
  • Ethereum Whales Holding SHIB Remain Undefeated, but Here’s the Catch
  • Here’s Why Celsius (CEL) Gained 109% Within a Month
  • Security Tokens Vs Utility Tokens: How Do They Differ?

Categories

You may have missed

What is a Bear Trap in Trading and How Does It Work?
11 min read
  • Crypto Trading
  • Guide
  • News

What is a Bear Trap in Trading and How Does It Work?

August 13, 2022
FxCapital360 Review – Is FxCapital360 Scam or a Proper Broker?
4 min read
  • Cryptocurrency Brokers News and Reviews

FxCapital360 Review – Is FxCapital360 Scam or a Proper Broker?

August 13, 2022
All You Need To Know About Virtual Asset Service Provider (VASP)
11 min read
  • Cryptocurrency
  • Guide
  • News
  • Regulation

All You Need To Know About Virtual Asset Service Provider (VASP)

August 13, 2022
Animoca Co-Founder Says Web3 Requires More Developers For A True Decentralized Environment
3 min read
  • Cryptocurrency
  • News
  • Web3

Animoca Co-Founder Says Web3 Requires More Developers For A True Decentralized Environment

August 12, 2022
Copyright © All rights reserved. | DarkNews by AF themes.
  • RelevantRelevant(REL)$0.825.35%
  • TadpoleTadpole(TAD)$7.32-1.74%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184213-2.11%
  • SakeTokenSakeToken(SAKE)$0.0127135.28%
  • WTF TokenWTF Token(WTF)$0.0113500.17%
  • BNSD FinanceBNSD Finance(BNSD)$0.005461-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%