XRP Ledger (XRPL) has reached a new milestone in its ongoing evolution, marked by its daily XRP burn rate. While not fully deflationary, XRPL burns a certain amount of XRP with each transaction contributing to a cumulative total that now stands at 13,014,042.56 XRP, according to XRPScan data.
Although this burned amount is small relative to XRP’s circulating supply, it demonstrates XRPL’s gradual development and positioning for future advancements.
XRPL is a distributed ledger technology supporting smart contracts, yet its role in the Decentralized Finance (DeFi) ecosystem remains less prominent than networks like Ethereum and Solana. However, XRPL mainly aims at commercial interactions, making it a platform for micro-payments.
Regarding these transactions, the protocol shaves off a small portion of the stated amount, sending it to a burning wallet, a process that has now reached the 13,014,042.56 XRP burn record. According to the most recent statistics, XRPL has executed 92,036,034 ledgers and 203,630 payments to date.
This post first appeared on 36crypto.com News.
