XRP
Ripple CTO Emeritus Rejects Proposal to Raise XRP Ledger Fees 100-Fold
A community suggestion to increase network transaction costs to accelerate token burns met pushback from one of the ledger's key architects.
An XRP holder proposed on X that XRP Ledger transaction fees should be increased by 10 to 100 times to accelerate the destruction of XRP tokens. David Schwartz, Ripple's Chief Technology Officer Emeritus and a co-creator of the ledger, criticized the suggestion, arguing that measuring a blockchain's success by fee revenue is fundamentally flawed.
Under current network rules, transaction fees are destroyed rather than distributed to validators. At a price of $1.51 on October 6, the standard fee of 0.00001 XRP represents a tiny fraction of a cent. Even a 100-fold increase to 0.001 XRP, or roughly $0.0015, would have an imperceptible impact on the circulating supply of approximately 63.1 billion tokens, which carried a total value of around $95.4 billion.
Increasing the fee structure would shift financial burdens directly onto active users while passively rewarding token holders who do not transact. Furthermore, higher costs could undermine the ledger's primary value proposition of providing fast and affordable settlement for payment and remittance businesses.
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