David Schwartz, the CTO of Ripple, said the community could influence the burning of $48 million worth of XRP.
The company has over 50% of the total token, and the community suggests burning instead of selling off to strengthen the price. The way they can do this is through their vote. If validators want XRP tokens worth $48 billion burnt, then it is a decision that doesn’t have to be debated.
Major Updates
- Ripple to burn billions to put an end to price manipulation
- Ripple users will vote on the decision
- June’s check amendment allows users to send checks to others
Giving the community to vote is because Blockchain is a democratic system, and the people have the power in their hands.
