The battle between Ripple and the SEC has finally come to an end. Users of the XRP can now breathe and expect a democratization of their favorite cryptocurrency. Aware of the stakes of this asset, the Root Network blockchain has studied the possibility of using XRP as rewards for validators. Zoom !
XRP as validator rewards
Brad Garlinghouse claims to be disappointed with the outcome of Ripple’s long legal battle with the SEC. For him, the American policeman of finance has undertaken actions of ” bad faith, plain and simple “.
But it should be noted that this case did not impact the development of Ripple and its XRP token.
In a recent publication, U°Today revealed that Root Network thinks resolve interoperability issues between XRP Ledger and Ethereum Virtual Machine (EVM) blockchains.
” Root is also a token? Do you have a common thread? »
” The RootNetwork is a very advanced substrate-based blockchain that is compatible with EVM, uses XRP as a gas token, with Root as a native token that will be used primarily as a staking token to secure the network and for governance. Staking rewards will be paid in XRP. It will be possible to pay gas fees with several tokens, but these will be converted into XRP at the end of the day. »
Explanations!
In other words, the blockchain qualified as ” very advanced by Dip Collector will build on Polkadot’s Substrate framework. Thus, compatibility with the EVM will become a given.
Moreover, its tokenomics will be supported by ROOT, the native Root Network token.
What happens next: ROOT holders will initially receive rewards in XRP. This same cryptocurrency will also serve as a gas token on Root Network.
Note also that holders of other altcoins of the same ilk will have the possibility of convert their holdings into XRP in order to pay gas fees.
In view of a progression of the XRP Ledger liquidity ecosystem, Root Network will connect to XRPL DEXs.
For Dip Collector, this will certainly bring joy to the XRP community.
” It’s time for the XRP community to realize the magnitude of what is being built here and what it means for XRP “, he underlined.
Note also that Root Network is currently only availablein beta on mainnet. This blockchain thus presents itself as another alternative to cross-chain compatibility between the XRP Ledger and other chains.
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