XRPL EVM Validators to Receive XRP Rewards

Validators on the XRPL EVM sidechain are set to receive rewards in XRP, according to a recent announcement by Ferran Prat Tio, co-founder and CEO of Peersyst. The XRP Ledger employs a unique consensus mechanism known as the "XRP Ledger Consensus Protocol," which differs significantly from more popular mechanisms like Proof-of-Stake and Proof-of-Work.

One key difference between XRPL's approach and that of other networks lies in the absence of a validator reward system. Unlike other networks, validators on the XRP Ledger do not receive incentives from the network for their role. Instead, the network automatically burns all transaction fees it receives. Data from XRPL validators indicates that over 12 million XRP, worth more than $6.2 million, have been burned since the inception of the XRP Ledger.

Ferran Prat Tio states that the EVM sidechain, which will connect to the XRPL via a bridge, will adopt a different approach. Validators on the EVM sidechain will receive rewards in XRP for their contributions to the network. Despite being a separate network, the sidechain will use XRP as its native token. As a result, the blockchain will collect gas fees in XRP, similar to the XRP Ledger. However, these fees will be directed to validators rather than being burned.