- Peersyst CEO Ferran Prat reveals that the XRPL EVM validators will receive their rewards in XRP.
- He contrasted the XRPL EVM sidechain with the XRPL mainnet, in which XRP fees are burned.
- The team is currently unbothered about a new name for the sidechain, though it may happen in the future.
The XRP community has been abuzz with the recent developments in the XRPL ecosystem, including the EVM sidechain integration. In a recent revelation, Peersyst CEO Ferran Prat Tio revealed that the XRPL EVM Validators would be paid in Ripple’s native token, XRP.
Recently, XRP Ledger (XRPL), in collaboration with the blockchain firm Peersyst, announced the integration of the Ethereum Virtual Machine (EVM) sidechain, embracing the enhanced phase of blockchain technology. Addressing the community’s queries regarding the integration, Ripple CTO David Schwartz elaborated on the mechanism of EVM and assured a secure investment.
In a recent interview with Ferran Prat, crypto enthusiast ‘Crypto Eri’ on X enquired about the XRPL EVM validators’ reward system. Prat responded, confirming that the XRPL EVM validators collect their fees that are paid in XRP. Crypto Eri quoted his response on her X post, which read,
Different than the XRPL mainnet, where XRP transaction fees are burned, the validators collect these fees on the new Peersyst-built chain.
Another pertinent question put forward by Crypto Eri was about the potential brand-new name of the EVM sidechain. In response, he elucidated that the team is not bothered about the matter at the moment, though it could happen sometime later. He added that people should recognize the sidechain as a part of the XRP Ledger.
In other news, ‘Flip The Chain’, a prominent voice in the crypto community on X, shared insights on the potential benefits of the XRPL EVM sidechain. He asserted that the sidechain would facilitate new developers launching new projects with easier methods. The platform also stated that the integration would benefit decentralized finance (DeFi).
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