• The XRP Ledger Could Get a New Account Type: Proposal Received

  • XRPL Labs, the software development team for the XRP Ledger blockchain technology, has made an important proposal: a new type of account can be introduced to the XRPL toolset.

    Lite Accounts may become available on the XRP Ledger.

    Developers have filed a standard proposal XLS-23d, according to a formal notification released by XRPL Labs on its official social media accounts.

    According to the project’s GitHub page, it is proposing to allow XRP holders to register a new form of XRP Ledger account (“Lite Accounts”) with just one XRP, while the “Account Reserve” for ordinary accounts is set at 5 XRP (plus 15 redeemable XRP).

    Wietse Wind, head developer at XRPL Labs, stated that the functionality of Lite Accounts will be limited: they will only handle holding, sending, and receiving XRP tokens. They cannot, for example, be used to generate offers, checks, payment channels, or “Hooks.”

    If passed, this amendment would improve the logic of data storage on the XRP Ledger by consuming “less XRPL space” via “Lite Accounts.”

    One XRP can be used to start a sponsored account.

    The second component of the idea is to add a “Sponsored” account type, which will allow for sponsored user onboarding on the XRP Ledger.

    When an XRP holder spends one XRP for a “Sponsored” account, his or her clients can access it. If they do not, a sponsor can redeem one XRP.

    “Lite Accounts” can be upgraded to “Full Accounts” by paying additional XRP fees.

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