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Stellar just released Protocol 11 and there is an interesting thing in there that I cannot find on the dev ripple site... Current situation: for each transaction on the XRP Ledger you'll need to specify an amount of XRP that needs to be destroyed to pay the transaction cost. The minimum that you can select is 1e-5 XRP or 10 drops. For now, I'm discarding multi-signed and escrow transactions that have a bit higher fees. This is done to prevent the network from being spammed/DDoS-ed. There's an amendment called "FeeEscalation" that makes sure (when network is under heavy load, and by heavy load I assume more than 1500 Tx/s) that the consensus process selects transactions that pay higher cost and queues other transactions with lower cost which will be inserted in the later ledger versions. Looking at Stellar they had : " Before Protocol 11, fees were fixed: you submitted the amount you were willing to pay to add your transaction to the ledger, and that was that. You paid the fee you specified, or, if that fee was too low, ran the risk of getting squeezed out by surge pricing. " The updated version is: "After Protocol 11, fixed fees are replaced with a version of a VCG auction. You now choose the maximum fee you’re willing to pay, but you’re actually charged the lowest possible fee. If network activity is light, you’ll pay the absolute minimum. If it’s heavy, you’ll pay up to the amount you specify, but no more. As a result, you can choose the highest fee you’re comfortable with safe in the knowledge that you’ll only pay that fee if required by circumstance. " Maybe a fix to "FeeEscalation" amendment can apply the similar "Stellar trick"? References: https://www.stellar.org/blog/protocol-11-improvements-stellar https://developers.ripple.com/transaction-cost.html https://developers.ripple.com/known-amendments.html#feeescalation
Blog URL: https://xrpcommunity.blog/share-your-xrp-with-newbies/ We can all easily contribute in an effort to enlarge XRP's network of stakeholders by simply tipping others! Learn more in today's blog. I hope you enjoy the read: Please feel free to share my blog with a friend or share it on any other platform - and thanks for doing so! My blog announcement links on other platforms: Twitter Reddit r/Ripple Reddit r/CryptoCurrency Reddit r/CryptoMarkets Reddit r/xrp Reddit r/RippleTalk Reddit r/alternativecoin Reddit r/CoilCommunity Bitcointalk - alt coin sub forum Bitcointalk - XRP speculation thread
Every once in a while, it's good for crypto investors to take stock of their investments and where they're at in terms of liquidity and adoption. Today is that day, and I'm taking a look at the same numbers that we discussed just three months ago. Headlines: Liquidity is massive. The number of wallets doubled. To find out more, you'll have to read for yourself! Hope you enjoy the read & please let me know what you think; feel free to share my blog with others or on any other media or platform, and thank you for doing so! Blog announcements on other media: Twitter Reddit r/Ripple Reddit r/CryptoCurrency Reddit r/CryptoMarkets Reddit r/xrp Reddit r/RippleTalk Bitcointalk - alt coin sub forum Bitcointalk - XRP speculation thread
Who and how setting price for the transactions in XRP? Is it right? If USD value of XRP will be increasing, transactions costs (in USD) will be increasing too? If so, nobody (banks, Ripple, users) will not want expensive XRP and we will never see XRP price like 5$ or 10$.
Hi all, Take a peek at this article: https://goo.gl/hQE7IA Which SO much makes the case for a ledger-based systems like XRP. Of course "believers" may still want to wait for a day to get confirmation, and pay $1 per transaction... yet everything has got its tipping point, and this BTC stuff is getting a bit out of hand, isn't it? Beating The Clock - yeah, the Ripple network does!