XRPL Labs unveiled “Lite Accounts” proposal: New accounts can be activated with one XRP only

The software team that tackles the development of the XRP Ledger blockchain platform, XRPL Labs has revealed an important proposal. It’s a new account type that can be added to the XRPL toolkit, dubbed Lite Accounts.

XRP Ledger might have a new type of account: Lite Accounts

According to the official announcement shared by XRPL Labs on Twitter, the standard proposal XLS-23d has been submitted by devs. Reportedly, XRP Ledger is proposing to allow XRP holders to open a type of XRP Ledger account (“Lite Accounts”) with only one XRP. While the “Account Reserve” for regular accounts is 5 XRP (plus 15 redeemable XRP).

“Lite Accounts’ functionality will be limited: they will support only holding, sending, and receiving XRP. They cannot be used, for instance, to create offers, checks, payment channels, or “Hooks”, XRPL Labs lead developer, Wietse Wind added.

If passed, this amendment would optimize the logic of data storage on XRP Ledger: “less XRPL space” will be consumed by “Lite Accounts”.

Then it is proposed to continue to introduce the “Sponsored” account type. It opens an opportunity for sponsored users to participate in the XRP Ledger.

After XRP holders pay one XRP to their “Sponsored” account, their customers can use it. Otherwise, the sponsor can exchange one XRP. “Lite Accounts” can be upgraded to full-fledged ones by paying extra XRP fees.

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