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Crypto

Ripple's Escrowed XRP Safe from Burn Amid Decentralized Ledger

Guavy AI Editorial Team
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A recent rumor has been circulating in the crypto community that Ripple will burn its approximately 32 billion XRP held in escrow.

Crypto commentator Jake Claver, Chairman of Digital Ascension Group, stated that this is not possible as of now due to the decentralized nature of the XRP Ledger.

The ledger is based on a validator consensus system, which means that any change to the protocol requires 80% agreement from the validators.

Ripple operates three out of 35 trusted validators, and Claver explained that they cannot destroy the escrowed tokens without putting it to a vote for all the UNL validators.

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