Post
Topic
Board Speculation (Altcoins)
Re: [XRP] Ripple announcing lock-up next month (june) - Shoot to stars
by
wingfr
on 07/05/2017, 11:50:26 UTC
I dont understand this fact about Ripple. Are there any official statistics? How many XRP are being destroyed per transaction? What if all XRP are getting destroyed? Can they "produce" new XRP? How many years it would take until all XRP are destroyed?

XRP spent as transaction fees are destroyed. The default transaction fee is currently 10 drops (=0.00001 XRP). There should be enough XRP to last for thousands of years despite this destruction. If the value of XRP changes, the transaction fee can be adjusted by the consensus of the network.

The rate of loss of XRP due to losing passwords is thousands of times more significant compared to the amount lost as transaction fees.

Because XRP are divisible, even if only 1 XRP remained, it could be divided up among the users of the network and be enough for the whole world to use.

Sources : https://ripple.com/build/transaction-cost/
and https://wiki.ripple.com/Ripple_credits