Ripple CTO David Schwartz reveals why no more XRP can ever be created
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U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.has put an end to speculation regarding the potential creation of additional XRP tokens. In response to recent claims on social media, Schwartz clarified that the XRP Ledger does not allow for the minting of new XRP under any circumstances.An X user, Pierre Rochard, claimed that Ripple could create more XRP, fueling speculation within the crypto community. Addressing this, Schwartz:"No network rule in the XRPL code permits XRP to be created. In fact, network rules enforced by nodes specifically prohibit this." No network rule in the XRPL code permits XRP to be created. In fact, network rules enforced by nodes specifically prohibit this. I'm pretty sure someone specifically pointed this out to you the last time you spread this nonsense. 1/2Schwartz added that creating more XRP was impossible on the XRP Ledger due to its sophisticated invariant checking system:"Well, not counting the time a bug allowed creating unlimited bitcoin. Something not possible on XRPL because of its sophisticated invariant checking system, an XRPL innovation that could have prevented the Bitcoin overflow incident and the DAO attack."Backing Schwartz, Vet, an XRPL dunl validator and the xrpcafe cofounder, responded to the claims, stating:"There is no function to mint more XRP, nor is it possible through a bug to do so."responded, saying,"There is literally no function to create any more XRP. Literally the code to do such a thing does not exist. Furthermore, there is a check each node runs that ensures that no XRP could even accidentally be created ."XRP's maximum supply is fixed at 100 billion tokens and is deflationary owing to fee burning. Vet explains why this is so.launched in 2012, 100 billion XRP were created in the genesis XRP account on the genesis ledger. This account is hardcoded, with all keys exposed. With this, no more XRP may be issued because the XRP Ledger checks every transaction to see if it creates a new XRP, for example, due to a bug, and blocks it. As a result, unlike Bitcoin, no occurrence in history has resulted in the creation of a new XRP. These checks are referred to as invariant checkers in the code. The XRPL being decentralized would not permit further creation of XRP because the same rules apply to everyone, even Ripple, which must follow the public XRPL rules.Shiba Inu Set to Break Worst Record Versus Bitcoin
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