.Poloniex is behind a record-breaking surge in account deletions on XRPL
Considering Poloniex's deletion of 15,000 accounts, the total burned in fees is substantial, and this could grow considerably, given that Poloniex is reported to have a total of 84,000 accounts. If all of these accounts are deleted, it could result in a burn of 168,000 XRP.
Surprisingly, it appears that the exchange had created individual accounts for each of its users, maintaining the minimum reserve balance for each. This outdated practice seems to have been the result of ignorance or oversight regarding the use of destination tags, a feature in XRP Ledger that allows for the efficient grouping and identification of transactions to a particular party. Poloniex seems to have since moved to a destination tag-based model.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Save a massive $200 on the equally massive Anycubic Photon M3 Max 3D printerThis is a Father's Day sale, but anyone can grab the Anycubic Photon M3 Max 3D printer with a massive $200 discount, for a limited time.
Read more »
Ripple Does Not Care Whether XRP Is 'Sufficiently Decentralized'Ripple fought to release hundreds of internal SEC documents showing disagreement and a potential conflict of interest in how the agency would regulate cryptocurrencies, danielgkuhn writes. Opinion for The Node newsletter
Read more »
XRP Trading Pair Listed on This Australian Crypto Exchange: DetailsNew XRP trading pair listed on Australia's largest crypto exchange XRPArmy XRPHolders XRPCommunity $XRP
Read more »
XRP Breaks New Bullish Record, According to Recent ReportRecent analytics report shows that XRP is getting more attention from market than before
Read more »
Biggest Movers: XRP 9% Lower, as Price Falls From 10-Week High – Market Updates Bitcoin NewsXRP plunged by over 9% on Wednesday, as traders moved to secure profits following a recent ten-week high. Cardano also remained lower.
Read more »
Hinman Docs Leave XRP Investors DeflatedUnfortunately, $XRP is not gaining the expected traction on the market after the release of the Hinman docs, but what about $ADA?
Read more »