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XRP Ledger Validator Explains Why More XRP Tokens Can’t Be Created

XRP Ledger Validator Explains Why More XRP Tokens Can’t Be Created

TimestabloidTimestabloid2023/07/14 16:00
By:By Zaccheaus Ogunjobi

Recently, speculation has emerged that Ripple could generate additional XRP tokens beyond the original 100 billion. These claims, fueled by criticisms from Bitcoin maximalist Pierre Rochard, have been thoroughly addressed by an XRP Ledger validator, Vet. According to Vet, Ripple can’t create more tokens, as the total supply of 100 billion XRP is permanently fixed.

Vet, a decentralized unique node list (dUNL) validator on the XRPL , clarified in a post on X that the token supply is capped at 100 billion tokens, a limit established when the ledger was launched in 2012. The entire token supply was pre-mined and is now permanently set in the ledger’s code, ensuring a fixed total supply. The initial 100 billion tokens were stored in the Genesis account, which has been publicly documented, providing complete visibility. 

The fixed supply of tokens is hardcoded into the ledger’s infrastructure, ensuring immutability. The ledger’s cryptographic keys are publicly accessible, allowing anyone to verify the token supply in real-time. The XRPL’s design incorporates multiple security features that prevent the creation of new tokens under any circumstances, guaranteeing the integrity of the asset’s supply.

Features That Prevent the Creation of More Tokens

The XRPL’s invariant checker is a robust safeguard to prevent the unauthorized creation of new tokens. This built-in security feature continuously scrutinizes all network transactions, ensuring the token supply remains unchanged. Any attempt to generate new tokens would be instantly detected and blocked, maintaining the system’s integrity.

Unlike Bitcoin , which suffered from accidental inflation in the past due to a bug, the XRPL has never encountered such an issue. Vet referenced the notorious 2010 Bitcoin bug, which led to the accidental creation of 184 billion BTC tokens, as an example of how such issues can arise in other blockchains. The ledger, however, has maintained its integrity, preventing any such inflation from occurring.

Moreover, the asset is deflationary, not inflationary. Each time a transaction is conducted on the ledger, a small portion of the asset is burned as a fee, this reduces the circulating supply over time. This mechanism ensures that the total number of tokens in supply continues to decrease, rather than increase, reinforcing the idea that the supply cannot be expanded beyond the original 100 billion.

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Rochard’s Claims and Ripple’s Response

Rochard’s comments, made on January 26, 2025, suggested that Ripple could alter the ledger’s software and remove the supply cap or change the escrow locks, potentially allowing the creation of trillions of additional tokens. He also argued that Ripple had misled the public about the ledger’s decentralization, asserting that Ripple and its affiliates control the network.

Ripple’s Chief Technology Officer (CTO), David Schwartz, countered these claims, explaining that forking a blockchain does not automatically result in widespread adoption of the forked version. While it is technically possible to fork a blockchain and change its rules, this does not alter the functionality or consensus of the original network. Schwartz emphasized that similar to Bitcoin, even if someone were to fork the ledger and modify the supply rules, it would not change the behavior of the original ledger network.

The claims that Ripple can issue more tokens beyond 100 billion are unfounded. The ledger’s design ensures a fixed supply, and the network’s built-in security features prevent any attempts to generate additional tokens. The scarcity of the asset is not an illusion but a fundamental characteristic of the system. As Vet and Schwartz have pointed out, the integrity of the ledger is maintained by its transparent, decentralized nature, and it is not susceptible to the same risks that have affected other blockchains in the past.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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