First Ledger, a trading platform on the XRP Ledger, has shared a fact about XRPL’s relatively lower transaction fees. The XRP Ledger participant engaged with a tweet that highlighted that it costs about $0.004 to execute a transaction on Solana, implying a user would need to send 2,500 transactions just to spend $10 in fees.
First Ledger noted that it costs about $0.0000152 to execute a transaction on the XRP Ledger, implying that a user might need to send 1,000,000 transactions just to spend $15.20 in fees.
XRP Ledger was launched in June 2012 and presents a core value proposition of cheap transactions relative to other currency-focused networks, as well as native functionalities for NFTs, escrow and DEX.
Transaction fees are systematically burned on the XRP Ledger, gradually reducing the total supply of 100 billion XRP. Since XRP Ledger’s inception, more than 14.3 million XRP have been burned.
Monthly, one billion XRP is released from escrow to Ripple every month. Any XRP not spent or distributed by Ripple in that month is put into new escrow contracts. This system will continue until the remaining XRP in the escrow becomes liquid.
In a major development, XRP Ledger now has more than 7.7 million holders, meaning nonempty wallets, for the first time in its history, as its usage continues to grow. Monday closed with a five-week high of 46,767 active addresses as XRP’s price jumped nearly 14% in a matter of 48 hours, surpassing $1.60.
XRP native staking explored
XRP Ledger does not distribute rewards or transaction fees to its validators, unlike several other blockchains. With proof-of-association (PoA) consensus, rather than receiving rewards, validators are mainly incentivized by supporting the decentralization of the network.
There are currently discussions on XRP native staking, but for this to exist, two things are essential: first, a source of staking rewards, and second, a way to distribute them fairly.
For instance, new fees associated with programmability features will be sent to a rewards pool.
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