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23

The Stellar network does not have a mining-based currency. At the network's genesis, 100 billion stellars were created. The only other stellar creation mechanism is inflation. To account for both economic growth and lost stellars, there is a fixed 1% annual rate of new stellar creation. These new stellars will be generated on a weekly basis and distributed ...


13

I think it's necessary to first consider the question: Without ripple, how do banks "actually transfer money" from one bank to another? Suppose that you and I are banks, and I want to send you $10 million. I'm probably not going to actually physically ship you $10 million worth of bills and coins. Instead, there are a few ways we could do this: You and I ...


11

[Note: This answers the question as written and at the time it was written (and for quite some time afterwords). See a later answer for the current state.] The Stellar code is a straight fork of Ripple with mostly trivial changes. It does have certain controversial features omitted (I assume on purpose) such as freezing. From a server and protocol ...


10

The way Ripple's public ledger system works is that you propose a payment by specifying the source and destination accounts and currencies and then the system gives you a quote based on public offers. You can then specify a maximum amount you are willing to pay to complete the payment and submit it. If the payment is possible for the amount you offered or ...


9

After digging some more and finding pretty much every possible interpretation on different media outlets, I just called Nick Riegger, the press spokesman of Fidor Bank AG. According to my conversation with Nick Riegger: Fidor Bank AG has already started implementing support for Ripple on their back end. They will first be on the lookout for business ...


9

99% of altcoins claim an "innovation" that is broken or unproven. I would say that the first thing to do is look at unique codebases that aren't based on Bitcoin, which basically means (besides Bitcoin) you should look at Ethereum, Ripple, NXT, Monero, BitShares. Then if you're bored, PeerCoin / NuBits and Lisk. Once you are done with those you can look at ...


7

Stellar rewrote their code base using a different consensus algorithm (https://www.stellar.org/papers/stellar-consensus-protocol.pdf). Now the technology is quite different than ripple's.


7

A very large majority of these altcoins are essentially scams. There is a cottage industry that takes a coin, changes something minor (name, logo), and releases it with great fanfare, enticing people to buy it, allowing the forker to unload their typically worthless coins. As Нонн Болдырев said, there is a small list of worthwhile coins. I'd leave Ripple ...


6

Both Bitcoin and Ripple are systems made of many components. One such component is a method to synchronize transactions and secure against double-spending; Bitcoin uses mining based on proof of work for that, while Ripple uses a consensus mechanism. Another component is the initial issuing of coins - Bitcoin uses mining for that as well, while Ripple uses ...


6

Ripple times are seconds since 1/1/2000 00:00 UTC. You can add 946,684,800 to a Ripple time to convert it to a UNIX time. If you are writing code to convert from Ripple times to UNIX times, please do your math in a 64-bit variable, not a 32-bit one.


6

You may also be interested in an answer to "How to accept payments via Ripple on a website". It depends on if it makes sense to you to price your product or service in Bitcoin or in some other currency. For example, if your costs and profit margins are based in EUR then it makes sense to set your price in EUR (even if you'll later turn that into bitcoin). ...


6

Stellar actually consists of two entirely different code bases at this point. It started out as a fork of the ripple code base. That software, called stellard, is still running in production. However, about half a year after launching, Stellar subsequently released a completely unrelated payment system called stellar-core. Stellar core is based on a new ...


6

Ripple Labs makes a downloadable client available. You can store wallets in a local file, encrypted with a passphrase. The source code is available on github along with build instructions.


5

There is no official list of Ripple Gateways because there is no such thing as an "official" gateway. Anyone can operate one without registering anywhere (other than as required by local laws in their jurisdiction). That hinders the creation of any kind of comprehensive list. There are a few people that attempt to keep somewhat comprehensive lists but their ...


5

I just made a simple website which shows XRP price for different gateways. No historic charts yet.. http://xrpvalue.com/


5

@David's answer essentially doesn't talk about an attack scenario where the room is full of dishonest nodes. This is essentially what the proof-of-work was designed to fix. If you get a hold of a lot of IPs (nodes in the Ripple network) you could become a majority in the room. The difference is that it's really easy to get an IP, but extremely hard to prove ...


5

Offers are always filled best first. Among tying offers, the one placed first is taken first. Once they're placed, offers are always taken at the rate they were placed. Offers are always placed at their original rate, regardless of what crossing offers they take. When an offer is placed, any crossing offers (existing offers in the other direction that can ...


5

See the Ripple Trust Lines topics in the Ripple forum. In this context "empty trust line" probably means a trust line with a zero balance but a non-zero limit. Such a line indicates to Ripple that you are willing to accept a balance of the specified currency from the specified issuer. Note that the forum topic you refer to was written before the ...


5

First note that Ripple uses the term ledger slightly differently than general use. In Ripple a ledger is the set of all Ripple accounts, all their current balances, all open trade offers, and only the transaction details that justify the changes in this ledger from the previous ledger. A specific Ripple ledger does not contain any other past history of ...


5

There are some existing sources of information for merchants wishing to use Ripple: Brief introduction and overview of Ripple for merchants Merchant's section/pages on the Ripple wiki If you are looking for something pre-implemented and easy to add to an existing automated web commerce check-out page, there isn't much available along those lines at the ...


5

According to Ripple: Ripple for Financial Institutions Financial institutions, network operators and regulators play critical roles scaling and providing stability to payment systems. Ripple enhances the existing payment stack, offering real-time settlement infrastructure at the foundation." https://ripple.com/integrate/ Given that financial institutions, ...


5

It depends on the implementation. The network itself does not have a database engine. Bitcoin Core and software derived from it (most altcoin software is derived from Core) uses LevelDB to index the blockchain and store the chainstate data (UTXO set, current best block, etc.). It uses BerkeleyDB for the wallet. However different implementations can use ...


4

When building consensus how much traffic and their equivalent of orphan blocks are accumulated? Once a consensus round starts, the amount of information that needs to be distributed is fixed, since new transactions cannot be introduced. If there's no reason a transaction shouldn't be included, then almost all honest nodes will ask that it be included. If ...


4

Currently, Ripple Labs runs five validators and most Ripple servers have only these five validators on their UNL. A transition is in the works to distributed community management of UNLs, and that transition is expected to be completed during the first half of 2014. In the final scheme, publishers will be able to publish lists of validators (by public key). ...


4

Ripple is trying to replace SWIFT, the protocol for inter-bank transfers. To me it makes sense because, those systems are (according to my understanding) quite antiquated. So blockchain hype has provided the impetus for banks to consider trying something new such as Ripple. It was started by the guy who created MtGox. Bitcoin is a mechanism for exchanging ...


4

Usernames and passwords are client wallet functions. They have no meaning to the Ripple network and servers would have no idea what to do with them. In fact, servers do not have permission to obtain encrypted wallets because if they did, they could attempt to brute force decrypt them, negating the security advantages of the blob vault. By design, is is as ...


4

Ripple uses substantially the same signature scheme as Bitcoin does and the server validates signatures similarly using OpenSSL. But Ripple doesn't require you to refer to previous transactions by ID to spend from them. So you can't prevent people from spending funds or jam their transaction chains. The Ripple server will soon enforce fully canonical ...


4

Where can I find the address? The address you need to trust to hold Bitstamp issued currencies is available from the Bitstamp website, but as you noted, you must be logged in to see the relevant page. You can also find the address at https://www.bitstamp.net/ripple.txt under the [accounts] key. The ripple.txt file is documented here: https://ripple.com/...


4

With Bitcoin there are various ways to mitigate the risks and issues you mention to allow some use of payments with zero confirmations instead of waiting for sufficient confirmations to be sure the payment is irreversible. With Ripple, once a transaction is validated it is irreversible. Ripple transactions usually validate within seconds (5-20 seconds ...


4

The ripple server uses SQLite for structured data and a configurable "back end" for unstructured "bulk" storage. The structured data consists of things like transactions indexed by which accounts they affected. The unstructured data consists of "chunks" of data indexed by hash that constitute portions of network history. The preferred back end for bulk ...


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