The Desktop Wallet and the closure of Rippex
ON THE USE OF THE WALLET AFTER THE CLOSURE OF RIPPEX
The termination of Rippex activities DOES NOT AFFECT the use of the wallet, to understand why we will see some basic concepts of Ripple and the desktop wallet.
DIRECT CONNECTION TO THE DECENTRALIZED NETWORK
A desktop Ripple wallet is similar to a desktop bitcoin wallet, i.e. it connects DIRECTLY with the ripple network. Note in the settings, in the section "network settings" that there is even how to choose which servers from the ripple network you want to connect to.
That way, while there is a ripple network and compatibility of the network and its operating system with the wallet, it can be used without Rippex and without any other gateway.
YOUR ACCOUNT IS YOUR SECRET KEY - PORTABILITY 100%
The desktop ripple wallet is nothing more than a Ripple key generator and an interface to use these keys. When you create the key you save it in an encrypted way on your computer in the form of the wallet file. The secret key is an alphanumeric code that begins with "s" and has 29 characters - you MUST have noted this in the creation of the account.
To use the key you open the file with your wallet application and you can then create transactions. So your account is, in fact, your secret key and the wallet is just a means of using it. Your balances are contained in the Secret Key and not in the wallet application.
This is very important because:
Your secret key can be imported into other wallet apps, meaning it is the guarantee of portability. Here you will find other wallet applications if you want to learn about other options.
Rippex does not know the secret keys of its users because they are generated locally in the computers of each one. So, the locally generated Ripple account is an exclusive property of the creator.
Your XRP balances or those issued by other gateways continue your ownership.
Because the secret key is the exclusive property of the creator, the balances contained in this secret key are also the exclusive property of the creator. Thus, even if Rippex terminates its activities you can still use the balances in XRP or issued by other gateways.
MOTIVATION TO PROVIDE ACCESS TO THE WALLET BUILDS
The desktop wallet project was developed by Ripple some time ago, and as Ripple announced the end of its main official web wallet at the time (rippletrade) we decided to compile another Ripple project and offer it to the public - the desktop wallet.
The motivation was that there was no viable option at the time to generate and manage ripple keys locally. The idea was precisely to give people an option to use the Ripple network autonomously and privately.
ABOUT RIPPEX SUPPORT TO WALLET DESIGN OPENSOURCE
Rippex will no longer work on the opensource project of the desktop wallet. In fact we did little more than fix some bugs on the previous code base. But the code is in github and can be copied and maintained by those who so desire.
We will also remove the possibility of downloading the wallet from our site on 02/28/2018 - we have already received some messages from community members who volunteered to host the files and continue to offer the download. We will release the new URLs if this is confirmed.
THE REQUIRED RESERVES
The public ledger (XRPLedger) requires a reserve for all accounts created, this is attached to the ACCOUNT and therefore has no relation to Rippex. Please learn more about that here.
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