Ripple CTO: Although they voted in favor of the XRPL community’s proposal to increase transaction costs, they still have different opinions

It is reported that David Schwartz, the chief technology officer (CTO) of Ripple, posted a message on social media that the XRPL community still has differences on the proposal to increase transaction costs. David Schwartz said that although he voted in favor of the vote, he believed that transaction costs should not be used to artificially manipulate the price of XRP. Transaction costs should reflect the actual cost of the network, so as to allocate resources more effectively and ensure that XRPL network will not lose low costs Competitive advantages of high-speed blockchain. In addition, David Schwartz added: “If the transaction cost is lower than the actual cost, and the artificial execution cost is used to reduce the node operation, the network value will be damaged. If the transaction cost is higher than the actual cost, it is actually adding unnecessary trouble to the network.”

Interpretation of this information:

David Schwartz, the CTO of Ripple, recently posted on social media about the ongoing debate within the XRPL community regarding the proposal to increase transaction costs. While Schwartz voted in favor of the proposal, he emphasized that transaction costs should reflect the actual cost of the network and not be used to manipulate the price of XRP artificially.

Schwartz believes that setting transaction costs too low could harm the network’s value by reducing node operation, while setting them too high would impose unnecessary costs. Therefore, he advocates for transaction costs to accurately reflect the real cost of network operation, which will allow for more efficient resource allocation and preserve the network’s low-cost competitive advantage.

This message highlights the importance of transparency and fairness in setting transaction costs within the XRPL community. It suggests that artificially manipulating transaction costs to drive up the price of XRP is not a sustainable long-term strategy, and that investors and network users alike will ultimately be better served by an approach that reflects the network’s true costs.

Overall, the message emphasizes the need for a balanced approach to setting transaction costs within the XRPL network that supports its growth and stability over the long term.