David Schwartz Describes XRP Ledger Fee Revenue as a Misleading Metric
Prefer us on GoogleRipple CTO Emeritus David Schwartz defended the low transaction fees of the XRP Ledger in a discussion on platform X. The debate began when some investors evaluated Layer 1 blockchains based on fee revenue. Transaction fees on the XRP Ledger are not paid to validators; instead, they are burned, creating a permanent reduction in XRP supply. According to XRPscan data, 14,403,762 XRP have been burned since the network's inception, which corresponds to approximately 0.014% of the total supply of 100 billion XRP. Schwartz stated that fee revenue does not indicate a blockchain's efficiency but rather reflects how much users' costs have decreased. The user who initiated the discussion suggested increasing the base fee on the network, but Schwartz criticized this approach. He emphasized that while high fees may be attractive to fee-collecting parties, the real issue lies with the interests of the users who pay these costs. The XRP Ledger's ability to offer fast and low-cost transactions makes it appealing for large-scale institutional use.
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