XRP Investors Rejoices Amidst News of Newly Developed XRPL Validator Tool with Incentives
On Sunday, July 21, 2019, a developer who goes by the name, Richard Holland, revealed the news regarding a validator tool that he created.
In particular, it is believed to permit XRPL validators to claim their rightful XRPL addresses. This endeavor is expected to provide validators with incentives, as seen in the tweet below:
I've written a tool to allow XRPL Validators to see and claim their corresponding XRPL address. Validator keys can be used as XRPL account keys but this hasn't been done until now. This will allow validators to be incentivised through tipping in the future https://t.co/Qf9Q8prJ0v
— Richard Holland ⚡️ (@codetsunami) July 21, 2019
Many members of the XRP community have since congratulated the developer for his achievements, applauding the idea that he came up with. Here’s a quick look at what people had to say:
Alex Cobb [XRP] @AlexCobb_
“This is a fantastic idea. Would be neat if you created a twitter account for this function and turn it into a splitter. So #XRP community members could send XRP to one account and have the tip equally distributed to all validators who claim and XRPL address +1.5 @xrptipbot.”
XRP Research Center @XrpCenter
“Amazing job Richard. Thanks for the hard work and your constant support to XRP! It’s exciting to think about how this tool could be able to interact with the validator dashboards being developed by others.”
As for how it works, here’s what Holland has since explained on GitHub:
“Validators use a keypair to publish validations to the XRPL mesh network […] The same keys can be used in an account context on the XRPL […] Using the validator’s key repeatedly to make transactions on this account would be insecure and cumbersome, so instead let’s send 20 XRP to the address and then rekey the account by using the tool […] This step requires access to the validator’s key file […] Now the validator can access his account from Toast or any other wallet.”
Given the fact that Ripple previously represented as most of the validators, this endeavor could potentially decentralize XRPL trusts the news outlet.