Apollo

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Apollo last won the day on April 16

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About Apollo

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  1. Ethereum makes a poor replacement to Ripple. Honestly, I think Ethereum is the rorschach test of the crypto world. It can theoretically do almost anything, so people imagine all kinds of things Ethereum can do but seem to totally ignore the limitations of the system. There is a reason why Ripple updates RCL's feature set so slowly. Every new feature must not cause unwanted interactions with any other feature. The more flexible a system is, the more difficult this problem becomes. And as we saw with the DAO, security failures can be rather catastrophic. I have had a few conversations with some very smart people who are convinced that Ethereum programs can basically never be sufficiently secure for enterprise grade fintech. This is because Ethereum by nature can have a nearly infinite number of interactions between programs and features, and it is very difficult if not impossible to guarantee the required level of security. Beyond the security problem Ethereum also cannot deliver the kind of performance that a system with a more limited feature set can. Ethereum will almost certainly never be able to deliver the kind of speed and throughput Ripple can. This is a real problem if you are trying to pitch ETH as a candidate to replace XRP or even Ripples IOU system. So yes you can build similar functionality on Ethereum, but I think it is like trying to build a race car out of Legos. Can you? I suppose in some sense yes. But will it be as safe and fast as a real race car? No.
  2. @TiffanyHayden This was a fantastic idea! Its things like this that make this community strong.
  3. Can we ban this guy? He is a troll.
  4. It was great to meet a few fellow Ripplers for the first time. Thanks, @tomxcs for putting this together. It was lots of fun, as always.
  5. Count me in. See you all soon.
  6. This is no longer true. ILP enables the use of off ledger trade volume and order books to provide liquidity for payments. This is part of why Ripple has been focused on adding new exchanges and not just gateways. Good indicators of XRP utility are trade volume against fiat and XRP payment volume.
  7. Ripple has been working to get liquidity on the order books. Maybe it is paying off. If so, this could be big for XRP.
  8. This article is trying to make the case that if only RCL was less useful and did not allow users to chose their preferred payment path XRP would be worth more. This is nonsense. If you forced users of RCL to use XRP users who do not want to or can't use XRP would use something else. If they are part of the network, even if they do not use XRP directly, XRP is that much more useful (ie. more destinations, payment paths and so on.)
  9. Don't get me wrong, I think the idea that Ripple will crash the price of an asset which has huge upside and they hold over 60 B of, and has over an 11B market cap already... is completely ridiculous... but they left themselves WAY more flexibility than they actually need. I think this is a mistake. They could have used this to create a perception of scarcity and much more predictability. They need to topple the king, and while this is good news, I think if they would have been more aggressive with the terms it could have shot XRP right past BTC. If they are able to get that top spot, I don't think there will be any going back... so some small operating constraints would have been one hell of a good trade. This is one of the only times I believe Ripple has made a strategic blunder considering the information available at the time of decision. I don't think it's a big one, but it definitely is one, and I don't think I have ever said that before.
  10. This should have been done a lot better, but I will take what I can get.
  11. As it stands, each validator selects a UNL based on who they trust not to collude against the network. Ripple did not want to add other validators until they had the code base built out and had a firm understanding of network topology. Ripple is now willing to start adding other validators to their UNL. This means those other validators will be counted when determining whether a TX was validated. Validated just means more or less that the transaction was voted as valid by a super majority of validators. (ie. the request was sent in time to make it into the ledger, it paid the required TX fee, and had the funds to make the payment.) More or less all validators do is check to make sure those types of conditions are met, order transactions according to pre-defined rules and include or exclude TX from around based on fee and timing. They also fill requests for data and stuff... So, in this context, approved transaction just means you met the basic requirements of a valid transaction.
  12. "Authorized transactions," I think is worse, and these days a lot of things bother me more than misleading statements about Ripple.... But one crotchety pedantic battle at a time I say! lol
  13. Ripple announced a plan to begin to add validators which meet certain technical benchmarks and are tied to a publicly known identity to their UNL, and then begin to close operation of their validators over the next 18 M. Authorized transaction just = validated ones. There is no evidence that anyone is planning any form of political censorship. I suppose that you could describe Ripples plan to add 3rd party validators to their UNL as "authorizing" them, but that is an extremely loaded way to describe a plan which appears to have nothing to do with maintaining political control, and everything to do with managing a safe transition to full decentralization.
  14. They have already done all that. They are just decentralizing it.