What is Ripple Crypto Currency?A brief description of Ripple.
Ripple’s distributed financial technology allows banks to efficiently transact with other banks to settle transactions in real time. An alternative to today’s global payment infrastructure, Ripple eliminates time delays and ensures certainty of settlement, resulting in lower transaction costs for banks and their customers and unlocking new revenue opportunities
Ripple Video
The purpose of Ripple
Low cost Interbank money transfers, Fraud resistant, Easy tracable transfers
Ripple Abstract
While several consensus algorithms exist for the Byzantine Generals Problem, specifically as it pertains to distributed payment systems, many suffer from high latency induced by the requirement that all nodes within the network communicate synchronously. In this work, we present a novel consensus algorithm that circumvents this requirement by utilizing collectively-trusted subnetworks within the larger network. We show that the “trust” required of these subnetworks is in fact minimal and can be further reduced with principled choice of the member nodes. In addition, we show that minimal connectivity is required to maintain agreement throughout the whole network. The result is a low-latency consensus algorithm which still maintains robustness in the face of Byzantine failures. We present this algorithm in its embodiment in the Ripple Protocol.
More information can be found in the Ripple whitepaper https://ripple.com/files/ripple_solutions_guide.pdf
Other Ripple facts
- Trading symbol: XRP
- Governance: Centralized > Hierarchical
- Open source: Yes
- Product status: Fully working product
- Consensus method: Proof of stake
- Emmission rate: Emitted in proportion to amount of network activity
- Transactions per second: n/a
- Total Supply: 100,000,000,000
- Release date: 2013-04-01
Usefull Ripple links
- Ripple’s Website
- Ripple pricing data & fundamental Ripple information
- Ripple’s Website
- Ripple official blog
- Ripple’s Bitcointalk Forum
- Ripple’s Reddit Forum
- Ripple’s block explorer
- Ripple’s Alexa site stats
- Ripple’s official forum: https://forum.ripple.com/
- Ripple’s Github code repository:
https://github.com/ripple/rippled - Ripple’s roadmap:
n/a - Ripple’s team page: https://ripple.com/company/leadership
- Ripple’s whitepaper: https://ripple.com/files/ripple_solutions_guide.pdf