Toast Wallet recently added full trustline support for XRP. The update is currently live for Windows, Linux, Mac, iOS, Android and the browser variants of the application.
The update also comes with news of Toast Wallet setting up their own cluster of nodes on Ripple’s network. This is to allow for the smooth functioning of the platform.
Trustlines are links between two addresses on the XRP Ledger. They represent an explicit statement of willingness to hold debt obligations for the gateway. It can allow strangers on the network to open credit lines and make payments based on trust.
On the XRP Ledger, it requires 5 XRP to open and keep a trustline open. A trustline cannot be closed if the balance is above 0. It is important to note that one must not open a trustline with an entity one does not trust.
Trustlines are important as they allow users to set up credit without the need for a third, centralized party to oversee the transaction. The credit limits are supervised by the server itself but only to the limits set by the parties participating.
The XRP Ledger requires wallet holders to hold a minimum of 20 XRP in order for users to activate wallet addresses. This is to prevent spam in the consensus protocol.
Toast Wallet does not charge any fees for using the wallet, and the website has stated that the wallet will always be free. It is protected by a PIN and a passphrase, with a recovery phrase in case of the loss of the password.
Raoul Sprangtrap on Twitter said:
“Thank you for answering. I realize these are super noob questions. I’m playing around with it now and IT IS SO COOL. You have one of the coolest apps ever. I predict even more success for Toast wallet. Congrats and thank you.”
User Matt Dodds said:
“Thanks @ToastWallet for all your excellent work!”
User Kheysitas said:
“Now i can finaly see the transactions i couldnt see after adding Allvor trustline…”
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