Xumm Founder Compares XRP to Bus Tickets, Says XRPL Hardly Used To its Capacity

Xumm and XRPL Labs founder discusses the role of XRP as a resource for consuming network capacity on the XRPL, highlighting user speculation.

Discussions about XRP’s function within the XRP Ledger (XRPL) have emerged. Amid the conversation, Wietse Wind, founder of XRPL Labs and Xumm, asserted that XRP is simply a resource for network capacity consumption on the XRPL.

The conversation delves into the nature of XRP’s role in the network. Vet, an XRPL DUNL validator, triggered the discourse with an initial comment in which he sought to dispel the notion that XRP is a gas token on the XRPL. 

XRP is not a gas token. Gas implies a auction mechanism where you bid with XRP on gas, much like you bid with ETH on gas to be included by validators.

You can't do that on the XRPL.

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August 24, 2023

Vet emphasizes that XRP does not operate using an auction-style mechanism where users bid to secure transaction processing, akin to the way Ethereum’s gas fees function. As a result, he does not see XRP as a gas token.

Xumm Founder Reacts

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