​Ripple CTO Reacts to XRP Fee Hike Proposal The XRP community | Altcoin Holder

​Ripple CTO Reacts to XRP Fee Hike Proposal

The XRP community is in a heated debate over the proposal to increase transaction fees to boost the price of the controversial token.

David Schwartz, Ripple's chief technical officer, responded to the proposal, stating that he agrees that transaction fees should reflect the actual cost a transaction imposes on the network.

However, the architect behind the XRP Ledger disagreed with the notion of using transaction fee destruction as an artificial mechanism to put upward pressure on XRP's price.

Schwartz further explained that the advantage of the XRPL is low-cost, high-speed transaction confirmation. Still, he believes that node operators should not subsidize transactions whose value is less than their total cost.

According to Schwartz, if the transaction fee is less than the actual cost of a transaction, executing the transaction could destroy value and discourage people from running nodes. In contrast, if the fee is more than the cost, there would be needless friction.