The XRPL account reserve threshold can be lowered to 10 XRP, but If the reserves are too low, the XRPL network is susceptible to DDoS attacks.
Witse Wind, a lead developer of the XRPL Labs team responsible for creating the XRP Ledger tools, shared his opinion on reducing the “XRPL reserves.”
The XRPL account reserve threshold can be lowered to 10 XRP.
Mr. Wind tweeted that he supports the position of Ripple’s chief technology officer, David Schwartz, on the need to reduce ” XRPL reserves.”
Ripple’s chief technology officer, David Schwartz tweeted about decreasing XRPL account reserve threshold on April 11th.
If the price of XRP stays over 1 USD for two weeks, I will personally start advocating for a drop in the XRPL reserve requirements from 20/5 to 10/2.
— Ｄａｖｉｄ "ＪｏｅｌＫａｔｚ" Ｓｃｈｗａｒｔｚ (@JoelKatz) April 10, 2021
“XRPL reserves” is defined as the minimum amount of XRP stored in an XRPL account to perform specific actions in the XRP blockchain.
While today it is equal to 20 XRP, the validator, managed by Mr. Wind, votes for this number to be reduced to 10 XRP.
Mr. Wind argues:
- Instead of an account reserve of 20 XRP, my validator is now voting for 10 XRP.
- Instead of an owner reserve of 5 XRP (Trust Lines, Escrows, Offers), my validator is now voting for 2 XRP.
I just joined @JoelKatz and @alloynetworks in voting for lower XRP Ledger reserves.
Instead of an account reserve of 20 XRP, my validator is now votes for 10 XRP.
Instead of an owner reserve of 5 XRP (Trust Lines, Escrows, Offers, …) my validator is now voting for 2 XRP.— WietseWind – ? XUMM @ XRPL Labs (@WietseWind) April 29, 2021
If the reserves are too low, the XRPL network is susceptible to DDoS attacks. In addition, the vote may review the “reference fee” or the number of XRP tokens destroyed to authorize the reference transaction.
Portal XRPL.org of XRP Ledger emphasizes that if validators approve thresholds that are too low for these metrics, it could expose XRP Ledger to denial-of-service attacks. With a bit of minimum holding, it would become effortless to initiate “dusty” transactions.
Mr. Wind added that Alloy Networks, an influential validator of the XRP Ledger, also supports reducing the XRPL account reserve threshold.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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