Schwartz Fires Back at 'Ghost Chain' Claims: XRP Ledger's Usage Continues to Grow
Ripple's CTO Emeritus David Schwartz has responded to criticism of the XRP Ledger, which some have called a 'ghost chain' due to low human transaction activity.
Schwarz pointed out that while it's true that most transactions on the XRP Ledger are from bots and automated accounts, this doesn't necessarily make it a ghost chain. He highlighted the ledger's cheap fees, which attract users for both useful and useless purposes.
According to Schwartz, even if the fees were higher and fewer people used the ledger for low-value transactions, it wouldn't suddenly become better.
The XRP Ledger has seen growing usage in various areas, including tokenized real-world assets (RWAs), stablecoins, and decentralized liquidity. Its distributed RWA market cap stands at $458.37 million, with a represented asset value of $4.06 billion.