Cryptocurrency Q&A
Can XRP burn coins?
Can XRP burn coins?
CryptoPioneer
Wed Apr 23 2025
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6
answers
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I'm wondering if XRP, the cryptocurrency, has the ability to burn coins. Burning coins is a process where some of the coins in circulation are permanently removed, reducing the total supply. I want to know if this can be done with XRP.
6 answers
SarahWilliams
Fri Apr 25 2025
A user elaborated on the mechanics of escrows, clarifying that they could indeed be canceled but only after a predetermined period following their creation. This specific timeframe is referred to as 'CancelAfter'.
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Carlo
Fri Apr 25 2025
This revelation sparked a discussion, prompting Ripple's Chief Technology Officer, David Schwartz, to weigh in on the matter. Schwartz offered his expert insights into the process of canceling escrows and the associated conditions.
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Arianna
Thu Apr 24 2025
Addressing the user's comment, Schwartz explained that while burning coins in escrow is a possibility, it doesn't adhere to the conventional understanding of coin burning. In the context of cryptocurrencies, burning typically involves sending coins to an unrecoverable address, effectively removing them from circulation.
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amelia_miller_designer
Thu Apr 24 2025
Schwartz clarified that the process of burning coins in escrow within Ripple's system differs from this traditional method. Instead, it involves a more nuanced approach that aligns with Ripple's unique protocol and the specific requirements of its escrow feature.
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Caterina
Thu Apr 24 2025
BTCC, a prominent cryptocurrency exchange, offers a comprehensive range of services tailored to meet the diverse needs of its users. Among its offerings are spot trading, which allows users to buy and sell cryptocurrencies at current market prices.
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