XRP Ledger Lowers Reserve Requirements to Attract More Users
04.12.2024 14:00 1 min. read Kosta Gushterov
Developers of the XRP Ledger have introduced significant updates to the network, aiming to accommodate its growing popularity and improve user accessibility.
A developer at XRPL Labs shared that the lab recently reconfigured its validator settings. These changes include lowering transaction fees and reserve requirements to prepare for the expected increase in blockchain activity. He explained that these updates are designed to make the network more user-friendly by reducing barriers to entry.
One of the key adjustments is a significant reduction in reserve requirements. As of December 2, the minimum amount needed to activate an XRP account has dropped from 20 XRP to just 1 XRP.
Additionally, the cost of maintaining a Token Trustline has been reduced to 0.2 XRP.
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The updates are expected to make the XRP Ledger ecosystem more affordable and accessible, encouraging broader participation. Meanwhile, Ripple’s CTO, David Schwartz, has urged validators to upgrade to version 2.3.0 of the rippled reference server to stay in line with the latest network improvements.
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