Crack XRP cryptocurrency and Interledger protocol can create a valuable Internet – NextBigFuture.com

Ripple is currently the number three of cryptocurrencies based on market capitalization as of August 29, 2018. Ripple has a market capitalization of $ 13.6 billion. Chris Larsen is co-founder and former CEO of the cryptocurrency company Ripple. In February 2018, Chris held a 17% stake in the Ripple company. (XRP 15.56 billion) At the current exchange rate of $ 0.34 for XRP, Chris Larsen's total value is about $ 5 billion

XRP is currently more than a thousand times faster than Bitcoin.
The XRP confirmation time is deterministic and closes every 3.2 seconds.
XRP transaction costs are 0.1 cents.

XRP constantly manages 1,500 transactions per second, 24 × 7 and can scale to handle the same return as Visa. (50,000 transactions per second, starting July 15, 2017.)

Ryan Fuger is a developer who created the Ripple Project in Canada in 2004. The Ripple project was to create a person-to-person exchange of IOUs.

In 2011, three people wanted to build a cryptocurrency that was much more efficient than Bitcoin. They wanted to change the consent algorithm. They took ideas from the ripple project around the idea of ​​pathfinding algorithms to exchange anything of value for anything else.

You could exchange anything of value in a very efficient way with a path-finding algorithm coupled with a digital resource that you did not have counterparty or gateway counterparty.

The birth of XRP was to keep company that would support an ecosystem and focus on the ecosystem. The company has been allocated a large percentage of the XRP currency. The Ryan ripple project folder was purchased.

Internet of Value

Globalization today has problems because it is incomplete.

Real mobilization needs interoperability and three basic things
1. data – goods
2. Shipping
3. Money

1. data – the goods interact with the Internet
2. The shipment interacts with the shipping container
3. Money – but the money networks do not interact

The blockchains are a subset of the solution.

The largest solution combines valuable interoperability protocols with a super fast and efficient digital asset and therefore with some kind of mechanism to program how that value moves

Protocol Interlingger

The Interlingger Protocol (ILP) and XRP (Ripple) can enable the interoperability of the monetary network.

Payment networks today are archived and disconnected. Payments are relatively easy within a country or if the sender and recipient have accounts on the same network or ledger. Sending from one register to another is often impossible. The connections that come out now are manual, slow or expensive.

The Interledger protocol provides for routing payments between different registers of digital resources while isolating senders and receivers from the risk of intermediate failures. Secure multi-hop payments and automatic routing enable a global network of networks for different types of value that can connect any sender to any receiver.

A Simple Payment Setup Protocol (SPSP) module would call the Interledger module with the address and other parameters in the Interledger package to send a payment. The Interledger module will send a transfer to the next connector or destination account together with the Interledger package and based on the parameters provided. The transfer and interleaver package would be received by the next interleaver module of the host and managed by each successive connector and finally by the destination SPSP module.

In the Ripple case, the Interledger module would call on a local accounting module that would create a Ripple transaction with the connected Interledger packet to transmit to the Ripple Consensus Ledger. The Ripple address would be derived from the address of the interleaver from the local registry interface and would be the address of some accounts in the Ripple network, which could belong to a connector of other registers .

Ripple XRP vision

Ripple XRP & # 39; s wants to remove the friction from global payments and enable the Internet of Value.

This will change the global financial system to improve the cost, speed and certainty of transactions. [19659002] A central problem in the global financial system is the way liquidity is managed.

If you enable real-time liquidity, you can eliminate the need for funding (ours and yours).

The Nostro account refers to an account that a bank holds in a foreign currency in another bank. Our products are frequently used to facilitate foreign exchange and trade transactions. The opposite term is your account. Costro is the way in which a bank refers to the accounts that other banks have on their books in the national currency.

Ripple sees this new financial world without friction a transformation from ten to fifteen years.

[19659002] Written by Brian Wang on Nextbigfuture.com
Sources – Ripple video on Youtube, wikipedia and Ripple website

Source link