The XRP Ledger’s minimum reserve fees requirement from 20 XRPs to 10 XRPs proposal is approve after several weeks of voting.
However, the protocol insists holding a certain amount of tokens for opening a new account on the ledger. This will fend off spam and other malicious attacks.
So, Changing the reserve requirement there will be a consensus among the network’s trusted validators.
This moves are timely and necessary if there is a significant increase in the XRP price.
Furthermore, For every object (payments channels, checks, trust lines, etc.), 2 XRPs will be added to each address’s reserve requirement.
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In April, Ripple CTO David Schwartz Advocates For Lowering XRP Ledger’s Reserves.
“I now personally advocate lowering the XRPL reserves from 20/5 to 10/2. (I have not discussed this with anyone at Ripple. (Thinking about it, I probably should have.) It is my personal position.)”
Meanwhile, The amendment is successful and kick starts with opening a new account two times cheaper.
Also, insufficient requirements can also increase the chance of a denial-of-service attack.
XRP Ledger’s validators gave their votes in favor of the controversial “Deleted Accounts” proposal last May.
Conclusively, In April XRP Ledger’s Labs introduced “lite accounts” with a minimum reserve of only 1 XRP.
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