Ripple Engineers Eye Native XRP Staking as XRPL DeFi Growth Lags
Ripple engineers are exploring native XRP staking to boost lagging decentralized finance growth on the XRP Ledger (XRPL).Summary
J. Ayo Akinyele, Head of Engineering at RippleX, initiated a discussion on the feasibility of implementing native staking on the XRP Ledger (XRPL) as its decentralized finance (DeFi) presence remains limited, evidenced by a Total Value Locked (TVL) of only $75.77 million.
Akinyele noted that native staking would require establishing a source for rewards and a fair distribution method, necessitating a rethink of XRPL's current Proof of Association consensus where fees are burned, not redistributed. Ripple CTO David Schwartz outlined two experimental concepts: a two-layer consensus model where an inner set of validators is chosen by stake, or using transaction fees to pay for zero-knowledge (ZK) proofs for smart contract execution.
Schwartz cautioned that both ideas are technically complex and unlikely to be implemented soon. However, the exploration is timely given the ongoing progress in XRPL programmability. Introducing native staking could potentially attract more capital, increase XRP utility, and accelerate XRPL's DeFi growth.
(Source：BeInCrypto)