As Ripple CTO David Schwartz identified, XRPL has been round since 2012, and the blockchain world has modified dramatically since then.
As new use circumstances and applied sciences emerge, his personal eager about governance and consensus has additionally developed.
Ripple CTO is at present pondering significantly about how XRPL can assist DeFi natively fairly than counting on exterior protocols.
“With the programmability efforts and sensible contract discussions underway, it appeared like an excellent time to additionally talk about what different DeFi capabilities would possibly seem like natively,” Schwartz mentioned.
The core philosophy of XRPL
Schwartz believes that XRPL is essentially completely different from PoS chains. Validators ought to be egalitarian as a result of stability and belief are what issues, not who holds probably the most tokens.
Transaction charges are alleged to be burned fairly than used as staking rewards.
This ledger is particularly optimized for velocity, low value, and safe funds.
Subsequently, “staking” or DeFi performance should not violate these rules.
From his standpoint, it is a philosophical query. How can we prolong the performance of XRPL with out sacrificing what makes it distinctive?
Two layers of consensus concepts
Schwartz envisions dividing XRPL’s tasks into two tiers:
The outer layer handles current governance, amendments, charges, and policing.
In the meantime, the internal layer will probably be incentivized and can doubtless use staking/slashing to deal with frequent ledger advances.
This maintains the velocity and ease of XRPL in funds, permits new validator variety with out slowing down processing speeds, and will increase community resiliency.
In Schwartz’s view, that is technically extra refined and suits the XRPL philosophy higher than immediately changing XRPL to a typical PoS chain.
ZK proof concept
Schwartz can be contemplating utilizing transaction charges to pay for zero-knowledge proofs of sensible contract execution.
He sees this as a strategy to allow advanced on-chain operations with out forcing each node to carry out heavy calculations.
This might probably allow programmability and DeFi options whereas protecting the bottom ledger light-weight and quick.
