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'Why Not Just Burn XRP?': Ripple CTO Doubts New XRPL Initiative

Author: Content Editor
The recent discussion on the future of programmability on XRP Ledger involved a proposal by Evernode co-founder Scott Chamberlain. He suggested using Hooks and a new token called Codii to enhance transaction functionality on XRPL. Hooks automate tasks and offer a seamless solution for transaction execution, while Codii would be a native token used to reduce financial strain on users by burning it for hook-related fees instead of burning XRP directly. However, Ripple CTO David Schwartz expressed skepticism about the proposal, stating that burning XRP for all transaction fees could simplify operations and that introducing Codii could lead to dilution losses for XRP holders. Chamberlain argued that Codii would offer a self-sustaining system and allow for more affordable smart contracts if XRP appreciates. Schwartz maintained that any system imposing costs on users through token inflation risks complicating fee management without significant benefits. The current system of burning XRP as the sole method for transaction funding was outlined as straightforward and accessible as the value of XRP changes.

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