Ripple CTO Questions Evernode’s New Token Plan for XRPL, Warns of Network Fee Hikes
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- Evernode proposes adding Hooks and a new token, Codii, to enable programmability on XRPL.
- Ripple CTO David Schwartz questions the need for Codii, citing complexity without clear benefits.
- Schwartz raises concerns about increased transaction fees across the network due to higher demand on resources.
Evernode co-founder Scott Chamberlain recently proposed a new system to bring programmability to the XRP Ledger (XRPL), sparking debate over potential fee increases. His proposal introduces Hooks, smart contract-like functions, and a new token called Codii to make executing these Hooks affordable.
Chamberlain explained that Evernode, a decentralized hosting platform, already uses four Hooks on the Xahau sidechain to manage reward distribution, host registration, reputation systems, and governance. However, to bring Evernode fully onto XRPL’s mainnet, Chamberlain suggested that Codii be introduced as a token specifically for paying Hook-related fees.
Codii would be minted by locking up XRP and burned to fund Hook executions, while XRP would continue to handle standard transaction fees.
Ripple CTO Pushes Back on Complexity
Ripple CTO David Schwartz resp…
The post Ripple CTO Questions Evernode’s New Token Plan for XRPL, Warns of Network Fee Hikes appeared first on Coin Edition.
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