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Everything posted by Picard78

  1. Sukrim you are right. Also I was just reading that "In reality, Visa processes around 1,700 transactions per second, a figure it rarely exceeds." Visa Transaction Speed
  2. mDuo13, I was surprised to read this. The following is from the XRP website https://ripple.com/xrp/ So XRP cannot scale to the same throughput as Visa in your opinion?
  3. Are the Validators in the UNL solely responsible for the next Ledger Version Or does a Validator not in the UNL also contribute to the consensus algorithm during the creation of the next Ledger Version? Thank you.
  4. So instead of forcing on-ledger escrow as a prerequisite in ILP, the Connector will take on the risk by providing the Sender Credit to move the transaction along?
  5. Hello XRP Community, Are they related? I was not able to get an answer via Google Search. Also I'm new and wasn't quite sure which Discussion Group to post this question in. Thanks
  6. Suppose I wanted to convert 1 of my BTC to XRP and then send this XRP to my XRP Wallet. Could I do this with either ILP or XRPL DEX? (assume both have good liquidity) If I have a choice of using ILP or XRPL DEX why would I use one over the other? Thank you.
  7. Hello, I just watched this ILP Overview on Youtube : https://www.youtube.com/watch?v=UdCxrqP6w3I In this video it states that in order for a Ledger to participate with ILP it must have Escrow functionality. It's my understanding that BTC does not have Escrow functionality in its protocol. How is it then possible that BTC is supported on the ILP? Thanks
  8. Tinyaccount, what you are referring to is the Base Reserve. There are two reserves; Account Base Reserve (20 XRP) and Object Owner Reserve (5 XRP). https://xrpl.org/reserves.html That being said, upon further reading in this forum, it has come to my attention that the XRPL Distributed Exchange isn't getting much focus. If that is the case my Owner Reserve argument for Holding XRP becomes a moot point.
  9. I believe once the XRP Ledger gets more adoption the Orders (XRP calls them Offers) will be posted right on the XRP Ledger. So User 1 will create an Offer to Sell 100 GBP for Y amount of XRP. User 2 will create an Offer to exchange 100 USD for 80 GBP. I think the XRP algorithm is then smart enough to Match these two Offers (Orders) in the next Ledger Version leaving User 1 with 20 GBP left in his initial Offer. Still learning the XRP ledger and would be interested if my understanding is correct.
  10. Each transaction has a memo field that can hold 1Kb of data. https://xrpl.org/transaction-common-fields.html#memos-field Your question reminds me of this article: https://finance.yahoo.com/news/ripple-devs-rush-fix-flaw-152342796.html
  11. Hello XRP Community, This is my first post. I was going over the XRP API documentation and discovered the Owner Reserve which is currently 5 XRP. Isn't this feature of XRP one reason that will limit XRP Supply once mass adoption occurs? Suppose I'm a Broker or Market Maker and I am required to have 5 XRP Owner Reserve for each Offer (limit BID and limit ASK that I place on the XRP Ledger which is not immediately consumed). Suppose I want the capacity to have up to 1 Million limit Offers in the XRP Ledger. Hence, I will always maintain a 5 million XRP reserve so my Offers never become flagged us Unfunded. As the Price of XRP increases the Base Reserve and Owner Reserve will be reduced, but the Owner Reserve is an important consideration to hold and accumulate XRP if I plan to be a significant future Broker or Market Maker on the XRP ledger. Am I understanding Owner Reserve correctly and how it encourages holding some XRP to be part of the XRP ecosystem? Thank you
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