HomeCrypto NewsMarketHere's How Long It Would Take XRPL to Burn 1M XRP if the Ledger Processed 1,500 Txns Per Second

Here’s How Long It Would Take XRPL to Burn 1M XRP if the Ledger Processed 1,500 Txns Per Second

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A community pundit has assessed how long it would take for the XRP Ledger (XRPL) to burn 1 million XRP if it constantly processed 1,500 transactions per second.

Andy, a community member, presented this assessment while speaking on a recent commentary from Digital Ascension Group CEO Jake Claver. Based on his evaluation, it would take up to 21 years for the XRPL to burn 1 million XRP if it processed 1,500 transactions every second non-stop. However, accurate figures put it at 2.1 years.

XRPL Would Need to Scale to Match Global Demands

For context, Claver recently called attention to the XRP Ledger’s scalability capacity. According to him, the XRPL, in its current form, processes about 1,500 transactions per second. This referenced figures from official disclosures. However, while this remains impressive, Claver believes it is insufficient to support true global transaction volumes. 

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He explained that achieving full-scale adoption will demand additional scaling solutions, especially technologies such as subnets or payment channels, as necessary next steps. Claver added that he already has an idea of how these solutions could emerge. Notably, previous reports suggested an increase in the TPS to 3,400.

The XRPL Burn Feature

Meanwhile, in response to Claver’s commentary, Andy shifted the conversation to the XRPL burn feature, leading to another deflationary argument. For context, while official figures suggest the XRPL can handle 1,500 transactions per second, the network does not necessarily handle this speed nonstop.

According to Andy, even if the XRPL does process 1,500 transactions every second consistently, it would only burn 0.0015 XRP tokens per second, considering a burn rate of 1 drop (or 0.000001 XRP) per transaction. Notably, this translates to 1 XRP burned in 11 minutes, and 10 XRP tokens incinerated every 1.8 hours. Essentially, at this pace, it would take 21 years to burn 1 million XRP.

How Long Would It Take to Burn 1M XRP

However, his assessment had a single detail wrong: the burn rate per transaction. Specifically, the XRPL burns 0.00001 XRP (or 10 drops) per transaction, not 0.000001. With this, it would take 100,000 transactions to burn 1 whole XRP token. As a result, if the XRPL consistently processed 1,500 transactions each second, it would require 1.11 minutes to burn 1 XRP.

At this rate, the XRP Ledger would burn 10 XRP in 11 minutes, and 100 XRP within 1 hour, 51 minutes. Essentially, it would take the network 2.11 years to actually burn 1 million XRP, not 21 years. Notably, at the correct pace, the XRPL would have burned 9.95 million XRP tokens in 21 years. Since its launch, the XRPL has burned 14.267 million XRP due to certain surges in transaction count and cost.

Despite the reassessment, most XRP community members still believe this is rather low for 21 years. However, this is expected, as the original XRPL architects never designed the burn rate to induce scarcity, but to reduce spam. Even Andy agreed that XRP’s price would likely grow with ETF demand rather than burns.

DisClamier: 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 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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Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

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