Ripple's Chief Technology Officer is Exploring Native XRP Staking

BlockBeats News, November 19th, according to thestreet report, David Schwartz, Chief Technology Officer (CTO) of Ripple and one of the founding architects of the XRP Ledger, proposed a new model involving staking that could fundamentally change the operation of the blockchain network. This discussion originated from a lengthy tweet by Ripple's Senior Engineering Director J. Ayo Akinyele on X, discussing the possibility of adding staking functionality to the XRP Ledger.

The XRP Ledger, launched in 2012, uses a Proof-of-Association (PoA) consensus mechanism, with validators agreeing on XRP transactions every 3-5 seconds. In contrast, blockchains like Ethereum (ETH) and Solana (SOL) use a Proof-of-Stake (PoS) consensus mechanism where users must lock or stake their cryptocurrency assets to qualify for transaction confirmation and secure the network, earning crypto rewards in the process.

Akinyele stated that XRP has evolved from a fast remittance tool to a network supporting tokenized asset settlements and real-time market liquidity. With the launch of the first U.S. physically-backed XRP exchange-traded product (ETF), the XRP ecosystem has entered a new phase, prompting him and Schwartz to consider supporting native staking on the XRP Ledger.