Ripple proposed a new feature that can allow the XRP ledger users to delete their accounts according to the new announcement made by the CTO of the company, David Schwartz as per the reports that we have in our ripple news.
“One new feature proposed in the amendment process is Deletable Accounts and [it] is waiting to acquire and retain an 80% supermajority, before it activates. This feature allows XRPL accounts to be removed from the ledger and recover most of the reserve locked in the accounts for spam prevention,” said Schwartz of the feature.
The main benefit for users is reimbursement: opening an account now requires a 20 XRP deposit, and users who delete their account will have the possibility to recover part of that cost. The activation process of the amendment featuring deletable accounts stipulates that it has to have 80% approval from validators for two weeks. This gives the community the opportunity to give feedback and influence validators.
Some features have been introduced through amendments in the past, including multi-signing, on-chain escrow, and payment channels. But deletable accounts are relatively changed of higher importance. Ripple proposed deletable accounts that will give the possibility to “completely remove an account from the [XRP] ledger and remove the reserve from that account,” according to the original specs.
Beside the concerns the proposed feature doesn’t seem to give Ripple deletion powers. The author of the proposal, Nik Bougalis, has said that only account owners hold this power. “Only someone that is able to sign a transaction for the account can delete that account,” Bougalis explains.
Though Ripple itself cannot exploit the proposed deletion feature, account owners could be able to do so by deleting a large amount of important metadata, that can disrupt other transactions. Luckily, the proposal has limits and fees in place to stop the excessive deleting. Also, it seems that account records will remain visible in the history of the ledger, so transparency could be protected. This news is announced in time when another report of a Ripple new partnership. The National Bank of Egypt has the intention to use RippleNet platform for the purpose of handling inward remittances, according to news outlet Youm7.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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