Ripple blockchain is built to facilitate faster and more reliable cross-border payments at lower costs. Its native token is XRP.
XRP (Ripple) uses a UNL (Unique Node List) consensus protocol to secure the network, and the UNL is a list of trusted nodes managed by Ripple. This consensus mechanism ensures network security and integrity by requiring all nodes to verify transactions and reach an agreement within a certain period of time.
● New accounts must lock 10 XRP for account activation
To reduce spam accounts and protect the network from spam email attacks and other abuses, Ripple requires that all new accounts permanently lock 10 XRP as Reserve. Only in this way can they connect to the validators in the UNL, and initiate transactions and communication across the XRP network. The 10 XRP reserve, known as "Minimum Balance", will be locked in the account permanently and thus cannot be used. If the XRP balance in the account is below the reserve requirement, this account will be unable to make transfers or trades.
● The reserve will be refunded by deleting the account
When an XRP account is deleted, the base reserve will be refunded to the account holder, with 2 XRP deducted as special transaction cost. Currently, ViaWallet only supports XRP account creation, and account deletion is not yet available.