Cryptocurrency Q&A
Does XRP burn every transaction?
Does XRP burn every transaction?
Martina
Sat Nov 30 2024
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6 answers
1274
I'm wondering if XRP, the cryptocurrency, has a burning mechanism in place for every transaction that occurs. In other words, does a certain amount of XRP get permanently removed from the total supply whenever a transaction takes place?
6 answers
BitcoinBaroness
Mon Dec 02 2024
This fee is paid in XRP, the native cryptocurrency of the XRPL.
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Leonardo
Mon Dec 02 2024
The Burn Mechanism is fundamentally about maintaining network security.
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Carlo
Mon Dec 02 2024
It operates by deterring spam transactions from occurring on the network.
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MysticMoon
Mon Dec 02 2024
When a user makes a transaction on the XRPL, they are required to pay a fee.
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ZenHarmonious
Sun Dec 01 2024
Upon payment, the XRP fee is not returned to the user or added to the network's reserves.
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