Introduction of incentives on the XRPL: Discussions and misunderstandings in the XRP community are flaming

Introduction of incentives on the XRPL: Discussions and misunderstandings in the XRP community are flaming

The introduction of incentives on the XRP Ledger (XRPL) has led to discussions and confusion in the XRP community and among Ripple's managers. A survey carried out by Daniel Keller, CTO at Eminence and XRPL ambassador via Twitter showed that 78% of the XRP community are for the introduction of incentives. However, it was not about a proof-of-stake (POS) consensus, but about alternative on-chain mechanisms with which users can earn rewards.

David Schwartz, CTO von Ripple, expressed his confusion about the demand for staking. He asked the question of where the return should come from. Keller emphasized that he wanted to create an on-chain alternative a centralized third-party solution and that the origin of the return was a separate matter.

Neil Hartner, senior software engineer at Ripple, supported this view and emphasized the difference between consensus staking and the blocking of XRP for a return. He explained that an on-chain option for the return is desirable, but he does not advocate a change to the proof-of-stake consensus.

WITSE Wind, developer of the XRP-based Xumm Wallet, praised the progress of testing "Burn to Mint" (B2M) in the Hooks V3. Another XRP developer, where Jake, expressed his thoughts on the incentive model on Twitter and emphasized the need for an improved model to promote the acceptance of XRPL in the real world. He proposed various native incentive models, such as rewards for the use of hooks and the locking of XRP.

Although a consensus-based incentive model such as Proof-of-Stake is not desired by the Ripple managers or the community, keeping XRP could become more lucrative in the future. The decision, which is implemented, is still pending.

It remains to be seen which solution is ultimately chosen. However, it is clear that the discussion about incentives on the XRPL is in full swing and the developers are working on researching alternative on-chain mechanisms in order to further improve the network and win more users for the XRPL ecosystem.