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13 votes

How Ripple actually transfer money from one bank to another?

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 ...
Josh's user avatar
  • 131
10 votes
Accepted

How Ripple actually transfer money from one bank to another?

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. ...
David Schwartz's user avatar
9 votes

What are the differences (and value adds) among all the different Crypto Currencies?

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 ...
Нонн Болдырев's user avatar
7 votes

What are the differences (and value adds) among all the different Crypto Currencies?

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 ...
user36303's user avatar
  • 786
6 votes
Accepted

What database engine does Bitcoin and other top altcoins use?

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 ...
Ava Chow's user avatar
  • 70k
4 votes

What is Ripple and how does it compare to Bitcoin?

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 ...
smatthewenglish's user avatar
4 votes

Ripple testnet explorer

There is a variant of viewing the transaction history at a certain address: http://ripplerm.github.io/ripple-wallet/ Dont forget to switch the network to the test in the upper left corner. Good luck =...
Дима Марков's user avatar
4 votes
Accepted

Ripple validator nodes

Are ripple validation nodes appointed by central authority? No. Nobody has any particular right to tell anyone what validators to use or listen to. If not, what prevents 51% attack through ...
David Schwartz's user avatar
4 votes
Accepted

Ripple: what’s the difference between “block” and “ledger”

Bitcoin In bitcoin, there is no concept of accounts, users, balances and payments. The bitcoin blockchain just stores the history of all the transactions that have happened. Each block contains ...
Ugam Kamat's user avatar
  • 7,398
3 votes
Accepted

Specification of Transaction Inputs - Bitcoin vs Ripple

Advantages of UTXO/blockchain approach: You don't have to pay to addresses that refer to accounts. Transactions can pay to unique rules or conditions that can exist only as the rule to claim a ...
David Schwartz's user avatar
3 votes

Is Ripple centralized or decentralized?

Are people still fighting about this or have they come to a consensus? I'm probably the worst person to represent whether there's a consensus or not since I'm one of the designers of Ripple. But the ...
David Schwartz's user avatar
3 votes

Why are the fees for converting Ripple to Bitcoin so high?

This is most likely explained by the high fees on bitcoin. These services still have to move the bitcoin from one wallet to another and you have to pay a fortune at this time, about $6- $19. You didn'...
My2Centrist's user avatar
3 votes
Accepted

What is the purpose of the 20 XRP cost to start a wallet?

Unlike a bitcoin receiving address, a funded Ripple wallet is a real thing on the ledger that has properties. This has advantages and disadvantages, but one of the disadvantages is that there's a cost ...
David Schwartz's user avatar
3 votes

What is the advantage of running a Ripple masternode?

The same reason someone would run a bitcoin full node. If you want to transact on the network, you either have to run your own node or use someone else's. If you choose to use someone else's, you are ...
David Schwartz's user avatar
3 votes

Is there a testnet version of data.ripple.com -- the Ripple Data API v2?

At https://medium.com/interledger-blog/sending-out-of-the-interledger-network-9f42c1217c72 there was a link to https://testnet.data.api.ripple.com/v2/ which seems to be what I was looking for.
craigpastro's user avatar
3 votes
Accepted

Ripple: How to calculate transaction ID (TXID)

The transaction ID is calculated by prepending the bytes 0x54, 0x58, 0x4e, 0x00 to the signed transaction and then taking the SHA512Half of this input. Example for a signed transaction, bytes are ...
Thorkil Værge's user avatar
3 votes
Accepted

Ripple difference between source and destination tags

The ledger itself doesn't really care what tags you attach to a payment. They're just used to help exchanges or wallet services know who to credit for a payment. The standard use of the a destination ...
David Schwartz's user avatar
3 votes
Accepted

Will Bitcoin copy Best Features of Litecoin, Ripple, if its Open Source?

Proponents of Bitcoin always mention that Bitcoin is Open Source, so if any better cryptocurrency comes along, Bitcoin can just copy those features in their open source. Bitcoin can of course adapt ...
Pieter Wuille's user avatar
3 votes

Will Bitcoin copy Best Features of Litecoin, Ripple, if its Open Source?

People have heterogeneous visions for Bitcoin. Some people want it to be a digital gold, some value censorship resistance most, others want it to rival digital payment systems like PayPal. Given that, ...
Murch's user avatar
  • 74.5k
2 votes

Why can't I spend my reserve XRP and delete my address from the network?

Changing the Reserve Requirements The XRP Ledger has a mechanism to adjust the reserve requirements for long-term changes in the value of XRP. Any changes have to be approved by the consensus ...
DaveB's user avatar
  • 21
2 votes

I want to buy some xrp and hold them offline

Download "ripple-paper-wallet" https://github.com/OctillionSA/ripple-paper-wallet Open index.html (HTML/javascript) in a browser (on a PC without Internet, better a fresh new OS). Write down or Print ...
Viacheslav Bakshaev's user avatar
2 votes
Accepted

Is it still possible to issue your own assets on Ripple?

It is definitely still possible to issue your own assets. Here is the process: Create an account on the Ripple network, you will need to get someone to send you enough XRP to perform transactions, $1 ...
David Schwartz's user avatar
2 votes

BTC to BTC trades on Ripple

The counter-parties are different. In Ripple chain: BTC has an issuer, it can be Bitstamp, Snapswap, Gatehub or any other gateway. So if you send your BTC to Bitstamp, they will give you BTC (issued ...
Viacheslav Bakshaev's user avatar
2 votes

Buying Ripple XRP with Bitcoin BTC

The usual process is this: You create an account on the exchange. You go through their menus to deposit bitcoins. They give you an address to send bitcoins to. You withdraw from Coinbase to that ...
David Schwartz's user avatar
2 votes

What happened to the original Ripple Project?

Why does the current Ripple protocol require a global consensus? Can someone use the old Ripple design to make money between people actually work in a local community without a global singleton ...
Nick ODell's user avatar
  • 29.4k
2 votes

How are 'Not Mineable ' cryptos able to verify transactions?

I'm not sure about Ripple, but I know IOTA specifically uses each transaction to confirm the transactions around it. So instead of a dedicated miner, each user is essentially a "miner" for the short ...
Fumbles's user avatar
  • 21
2 votes

Destination Tag of Ripple Desktop Wallet

I've never seen an exchange that required a destination tag even when sending to an account that doesn't require one. But any destination tag will do. The destination tag just tells the recipient ...
David Schwartz's user avatar
2 votes

How to run my own Ripple RPC server (full node)?

error: control directory has bad permissions 777 (must be >=0755 and <=0775) Could it be a permissions problem?
ulu's user avatar
  • 170
2 votes
Accepted

What can we do with XRP?

What does it mean to buy XRP as an individual OTHER THAN speculation? You can also use it as a means of payment and as a means of exchange for other assets on the network. (If investing in XRP ...
David Schwartz's user avatar
2 votes
Accepted

Is it legal to buy concurrency in USA

Yes. It is legal to buy cryptocurrencies in the USA and they are taxed like property by the IRS. See https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory#North_America From the ...
Jimmyjay's user avatar

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