XRP Community Could Make Ripple Burn Huge Crypto Holdings

Ripple has been making great efforts to boost the whole XRP ecosystem and also to push the adoption of the digital asset XRP.

The XRP army of fans is happy to see that the price of the digital asset also mirrored the successes of the coin and San Francisco-based firm.

David Schwartz addresses the XRP army of fans

Now, it’s been revealed that Ripple chief technology officer David Schwartz recently said that the XRP community could force Ripple to burn its massive trove of XRP holdings.

Just to refresh your memory, Ripple owns more than half the total supply of XRP.

The firm says that they are not selling enough to impact the price of the coin, but they have been facing criticism about their routine.

Not too long ago, Schwartz was asked on Twitter whether the nodes, validators and community members of the XRP Ledger could cause Ripple to burn its more than 50 billion in XRP, as reported by the online publication the Daily Hodl.

According to the info revealed by the online publication mentioned above, XRP Ledger amendments require an 80% approval rating from the ledger’s validators.

 

“If an amendment stays above that threshold for two weeks, it is activated. In June, validators on the XRPL notably voted to adopt a new amendment without support from Ripple,” the Daily Hodl notes.

Schwartz also talked about BTC and ETH.

He said that he is bullish on ETH saying that the coin has an “incredibly strong developer community and the best DeFi ecosystem.”

Schwartz also said that Bitcoin’s tech would need to improve in order to avoid becoming obsolete.

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