Ripple News today – Ripple Launches New Update That Allows Users To Delete Their Crypto Wallet – May 12th, 2020

  • New Ripple Update Allows People to Delete Their Cryptocurrency Wallets at Will
  • The Request is in Line With What the Ripple Community Requested a While Ago
  • Ripple XRP Struggles Against the USD

Ripple News Today – Last week, the XRP community approved an update that would allow holders to delete their cryptocurrency wallets by themselves. The vote was made 2 weeks ago and 80% of the community was in consensus. This is the first time any cryptocurrency group is making such a major move. The move, which is titled DeletableAccounts Amendment” will also allow users to recover funds from inactive accounts before deleting them. This way, the XRP Ledger will be cleaner and there will be no need to waste resources for inactive wallet maintenance.

Ripple News Today – Ripple Becomes the First Cryptocurrency Network To Allow Deletable Accounts by Users

Even if the amendment has just been implemented, it is important to note that the idea was initially proposed in 2019 by Nik Bougalis. When he made the suggestions and highlighted the pros and cons last October, the community was worried about the possible mass deletion and wrongful deletion of accounts. After the upgrade was completed, a few members of the XRP community tested it out by deleting their inactive accounts. Before they could delete the accounts, however, certain prerequisites had to be met.

XRP (XRP) Price Today – XRP / USD

#NamePrice24H %
3
ripple
XRP(XRP)
$0.211
3.53%

The first and most important requirement is that the wallet can only be deleted by its verified owners. Just before the account is deleted, a transaction must be completed by the said user. Also, there must be no more than 1000 objects in the ledger and none of these objects must be linked to some defined objects. It would cost 5 XRP tokens to delete one account. After the account is deleted, the transaction history will remain on the blockchain but it will be on a different server, not the one that keeps recent activity. This way, no one will be able to mask illegal activities on the ledger. All deleted accounts can be retrieved but you’ll need to pay 20 XRP.

XRP Price Prediction 2020 – Ripple XRP Price Prediction 2020

XRP Price Analysis – Ripple XRP Struggles Against the USD After the Bloody Weekend

At the time of writing, the price of the XRP token was $0.197693. This means that it is up by 1.33% against the USD and up by 0.55% against the price of Bitcoin BTC. The trading volume over a 24 hour period is $2,469,580,998 and the market capitalization is $8,720,795,526. The bulls may not be back in the market but the token has managed to enter the green zone to prevent more losses. The rest of the market is still struggling against the USD.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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