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  1. Hello XRP community, What would make XRP-L an ideal network to be used by banks, exchanges, governments, retailers as a derivatives platform/market? From a personal POV, why do you think it will be a derivatives platform in the mere future? Why would banks, exchanges, governments and retailers favor the network over others?
  2. Today, RippleX is rolling out a community page on Dev To aimed at engaging the growing XRP Ledger Community. Our inaugural post was written by David Schwartz, CTO at Ripple and one of the original architects of the XRP Ledger, and introduces his vision for Federated Sidechains. Developers around the world are invited to share ideas, provide feedback, ask questions and join the discussion. Together, we look forward to building trust and utility for the XRP Ledger. https://dev.to/ripplexdev/a-vision-for-federated-sidechains-on-the-xrp-ledger-2o7o
  3. Hi, I've been researching a lot about the XRP Ledger and the bridging mechanism, but I still have some questions. Can XRP work as a bridge between USDC(StableCoin) and Cross-Currencies payments(FIAT)? Hypothetical example: I use a Wallet where I have some USDC deposited and I want to make a payment in a Fiat currency as the Colombian Peso, can XRP be used to bridge between USDC->XRP and XRP->COP? (USDC->COP)
  4. Hello XRP Community, I have been a long-time viewer of these boards and XRP holder. I've been interested in crypto for some time and first came by XRP when transferring ETH and BTC to and from exchanges. It was far cheaper and quicker to convert to XRP before sending and converting back. At which point I realized how much of a game changer XRP and other coins are/will be and stopped converting back to other currencies. Until recently, without significant coding skills, there was not much ability to participate in XRPL except for holding and trading XRP. I think this has now changed with the launch of XUMM, XRPTOOLKIT, SOLOGENIC and XUMM.COMMUNITY and other Dapps. They provide gateways/clients for the laymen to access and interact with XRPL all be it some of the apps may not be completely polished. I decided to try it out in the XUMM app where I found a “create token” app. I created two tokens, HADA and HADALITE, using the XUMM app and XUMM.COMMUNITY tool. I have also managed to get the HADA/HADALITE tradable pair on the DEX via XRPTOOLKIT and SOLOGENIC. I am not a financial expert, coder or technical guru just someone interested in trying out new technology. The decentralised exchange (DEX) capacity of the XRPL and NFTs are fascinating as too is Defi. I guess these tokens would be termed NFT's although they have no tangible value. I'll explain WHY I did this, WHAT the differences between the TOKENS are and HOW you can get some. WHY? I wanted to know how I could use XRP and XRPL for its intended purpose as an individual and felt the best method to support the XRP ecosystem would be to learn to use it. Wallet creation, tokenisation, creating trust lines and exchanges all use the ledger and expend or lock-up XRP. Flare Finance is an exciting development and sort of set me of on this path through creating trust lines for the pending airdrop. I have no intended use case for these tokens, there is no white paper, there is no team this is just a bit of fun and a way to learn through experience how to use the XRPL and various Dapps. I see this as an educational exercise in anticipation of Flare Finance and XRPL NFTs as well as allowing the community to interact in a positive way, not just charts, moons and lambos. Maybe there is a way to gamify onboarding and uptake of functionality. I’ll try to provide instruction for how to claim HADA tokens using the XUMM app and XRPTOOLKIT below. However, this is new to me too. Improvements and constructive suggestions are welcome. I will also investigate other wallet options, exchanges and apps in the future or as requested. If anyone has a list of available XRPL Dapps that would be helpful. WHAT? I created two tokens through the XUMM app using the token creator tool and followed the instructions. It was simple and took about 3 hours. It has taken longer to write this then create the tokens. I have no idea if it was done correctly and there are some risks associated with token creation. The first token, HADA COIN, had an initial issuance of 10B tokens with the capacity to issue an infinite amount when desired. Another 50M was issued to investigate how to issue more coins. I set a 0.5% HADA transaction fee which is returned to the issuance wallet and charged to the sender. The transaction fee rate can be changed as desired. Rippling is enabled on the issuance wallet. WARNING - there is a transaction fee of 12 drops when sending or receiving either token, placing buy or sell orders and creating trust lines. The public address for the HADA issuance wallet is: https://bithomp.com/explorer/rsR5JSisuXsbipP6sGdKdz5agjxn8BhHUC The issued tokens are required to be sent to another wallet or “receiver wallet”. They can not be sent to the same wallet as the issuing wallet. The second token, HADALITE, has a finite amount of 10B tokens. No more of these tokens can be issued. These were issued via a NEW paper wallet created using the XUMM app and the keys burnt. There is no transaction fee for HADALITE, other than the usual drops, and rippling is enabled on this wallet. WARNING - when issuing a finite number of tokens you will permanently destroy the regular key and secret key and block incoming and outgoing transactions for that account. You will not be able to access any tokens including the XRP used to create the wallet or any other balance it contained. ALSO, issuing accounts must have rippling enabled. Receiving accounts are recommended to have rippling disabled. The issued HADALITE token was sent to the same receiver wallet as before whilst destroying the keys of the issuance wallet. The public address for the HADALITE issuance wallet is: https://bithomp.com/explorer/rHiPGSMBbzDGpoTPmk2dXaTk12ZV1pLVCZ If you look on bithomp you can see the above account issued the HADALITE and has a total of 25 XRP locked in it FOREVER (Be Careful). This account is set to NOT receive XRP and has rippling enabled. You can however send HADALITE to the issuance account where it is burnt. I sent 1 HADALITE to try it out. You can not SEND any other token to this account including HADA COIN as there are no further trust lines set. DO NOT send ripple to this account, it will be lost. The HADALITE issuance account has rippling enabled. Both tokens were sent to the CuentosDeHada receiving wallet with the public address: https://bithomp.com/explorer/rwKgwydb7NRHNS8gVpG6QEP2tYqPhroYrK I have left some residual XRP and SOLO in this account to pay for transactions and to experiment with escrow and trust lines. Rippling is disabled on this account. DISTRIBUTION I would like to distribute as many of the tokens as I can to anyone that wants them for testing the various suite of apps which act as gateways for the XRPL. As this is for fun I thought I’d try to gamify the learning experience with rewards of HADA and HADALITE for completing tasks associated with onboarding, trust line creation, escrow, encrypted messaging, burning and trading. Initially, I’ll distribute 10M HADA and 10M HADALITE to those who create trust lines to the respective issuers (instructions below). A bonus of 50M of each token will be given to the first 10 wallets to create trust lines. 1B HADALITE will be retained by the receiving account and is to be used to experiment with escrow, incentives, trading, and other features. If possible, all HADA COIN will be distributed and more HADA will be issued as and when required. 50M HADA and 10M HADALITE have been sent to the HADA issuing account for posterity. I gave the same to two friends who created their first wallets and helped in some capacity testing trust line creation. I’ll distribute another 40M HADA to anyone who creates a fresh wallet. There is an escrow of 1000 XRP between the HADA issuance account and the HADA receiving wallet which is set to expire on Aug 31st 2021 at 00:000 UTC. If there is any traction with this project the XRP can remain in the account to cover any costs or create incentives. A decision on any excess tokens will be made in the future, hopefully, by a community or driven by a use case or simply burnt. HADA COIN can not be burnt at present. A wallet can be created for this purpose in the future if needed. Or maybe sending to a general XRP black hole wallet would work, I don’t know. HOW TO GET HADA? There will be some effort on your part if you wish to participate. If you don’t already have one you will need the XUMM app on your phone which will cost 20 XRP to activate and you will require a pen and paper to write down the secret keys (lowering the wallet creation fee would be good news). You can also integrate XUMM with existing XRPL wallet addresses. A further 5 XRP will be required to create each trust line (10 XRP in total) and a small amount for transaction costs. In total you will need 35 XRP to participate at a basic level. 30 of which you will get back if you decide not to continue. Creating a buy or sell order on the DEX temporarily locks up 5 XRP for the period of the trade and placing the trade requires a few drops. So if you wish to trade you will need some extra XRP in reserve to place orders. The XUMM wallet can be downloaded from Google Play or the App Store https://xumm.app/. You will need to create trust lines with the HADA and HADALITE issuance wallets which will temporarily lock up 5 XRP whilst the trust line is active There is a transaction cost of a few drops to create or destroy the trust line or sign any other transaction (i.e. set trade buy or sell order) on the XRPL. I don’t know the implications of destroying a trust line with respect to sending/receiving the token. At present, I see no way to add custom trust lines in XUMM so you will have to do this via XRPTOOLKIT or SOLOGENIC. Both apps are similar but have different UIs. I’ll explain here for XRPTOOLKIT. XRPTOOLKIT - Creating trust lines https://www.xrptoolkit.com/ Set up a trust line as follows:- · Open XRPTOOLKIT on a web browser · Connect your XUMM wallet to XRPTOOLKIT (Follow the instructions) · Select account/assets or the add asset tab · Select the Custom Edit tab (You will see an input for the issuer, currency, and limit) · Input the issuer address from the table below for the desired token · Input the currency ID for the desired token · The issuer address and Currency ID must be for the same token · Set the limit to how many tokens maximum to receive (leave as default, 100M, this can be changed later) Token - HADA Issuer Address - rsR5JSisuXsbipP6sGdKdz5agjxn8BhHUC Currency ID - 4841444100000000000000000000000000000000 Token - HADALITE Issuer Address - rHiPGSMBbzDGpoTPmk2dXaTk12ZV1pLVCZ Currency ID - 484144414C495445000000000000000000000000 · Open the Show More tab and check the flag is “SET NO RIPPLE” · If the issuer address and currency ID are correct the NEXT button will be highlighted · If the NEXT button does not highlight there is an error with your address and/or ID · You will then be requested to sign for the transaction on the XUMM app (5 XRP will be locked up and you will be charged 12 drops to open the trust line). · I will monitor newly created trust lines, verify the address and send the required tokens to your account. If you have any issues claiming your HADA or HADALITE please DM through this forum or contact hada@protonmail.com. This is an educational project, and you may not receive the tokens immediately, be patient, I’ll be sending them manually when I can. SOLOGENIC https://sologenic.org/ To trade HADA and HADALITE on the DEX you will require a gateway. The best I have found so far is SOLOGENIC which allows for the trade of “Custom asset 1” to “Custom asset 2”. You should also be able to trade via the XRPTOOLKIT. To trade HADA for HADALITE on the DEX with SOLOGENIC follow these instructions:- · Connect the XUMM wallet to Sologenic (follow the instructions) · Once connected, select ACCESS DEX · Select the MARKET tab on the left-hand side and a CUSTOM pair tab should appear · Select the issuer currency dropdown box and select “Other” · Enter the issuers address from the table above for the desired HADA or HADALITE token and click SEARCH · The currency should then be discoverable in the currency drop down box below the search box · Select the currency · Click confirm · Repeat the steps above for the counter currency using the alternate currency address from the table above · Click confirm · Click confirm again · This should redirect to a trading platform for the HADA/HADALITE pairs · I have started to create an order book · Check the Star in the top left corner to add the pair to your favorites for faster access · Try buying and selling HADA/HADALITE, creating orders and getting used to the signature process on XUMM This is an exercise and a way to learn and understand the DEX without risking our precious Zerps. However, a few drops will be spent when placing any buy or sell orders between the HADA and HADALITE pair and a reserve of 5 XRP is required to place any trade. WARNING – The DEX can be confusing, especially when reversing pairs. Be careful as you may inadvertently buy when you meant to sell or vice versa. This is not trading advice just a way to understand the DEX. WHATS NEXT? I have locked 1000 XRP in an escrow for release on 31st August 2021. If there is any traction with this project (i.e. 50 % of HADA coins have been distributed) the XRP can remain in the account to pay for any incentives, costs or put back into escrow. At present the use case will be rewards for completing tasks (i.e. sending secret message via XRPL, creating trust line via Gatehub or other software). Automate certain processes such as issuance and distribution. I have reserved a twitter handle @hadacoin. Just in case. If others would like to learn how to create their own token or already have one let me know I would be happy to exchange / create trust lines etc…. or give advice. It could be interesting to develop the HADA ecosystem using only services and goods purchased using XRP (i.e. purchase a web domain name using XRP, pay for services using XRP). It would be nice to create a Logo, Icon, or website paid for using XRP. Develop a governance / voting method. Assign tangible assets (virtual and real-world) to a token (new or existing) and further experiment with NFTs and token issuance. DISCLAIMER This is not an investment contract nor a common enterprise and there is no expectation of profits derived from the efforts of others or myself. The value of HADACOIN or HADALITE is zero and is not expected to increase above zero. There is no intrinsic value in these tokens, and you could lose money by participating. Despite that, if you live in the USA the decision to participate is at your own risk. This is a personal project. I have no connection to any of the above application developers or Ripple. However, I think they are doing a spectacular job. USEFUL LINKS https://xrpl.org/ https://blog.ripplex.io/building-a-more-sustainable-scalable-and-accessible-future-for-nfts-with-xrpl/ https://xumm.community/ If anyone would like to assist further in this project in any way please contact HADA at hadacoin@protonmail.com. If you have read this far, thank you and if you want more I’ll give you another 10M HADALITE and HADACOIN. Send an email or DM with the code HADACOINx2 and your public address in the text and I’ll send you another 10M tokens of each. Thanks HADA
  5. Hello world! We're pleased to announce something special that we've been preparing for the past couple months: XRPL Grants! This is a new program to support the XRP community by funding developers and projects directly. Unlike any prior initiative, XRPL Grants is primarily targeting individual developers and very small dev teams, in the earliest stages of building the next big thing. We know that many types of projects don't have a clear business model, especially in the early days. There are also lots of needs in the open source community, which don't directly lead to users or revenue, but are critically important to evolving the network and fostering innovative use cases. Those are the projects we want to support! There's more we can say, and we look forward to discussing in more detail today and in the weeks ahead. Find out more at: https://xrplgrants.org/ Also, I shall be running a couple of extra Twitch session tomorrow (Thursday 27th) at: 11 AM Pacific Daylight Time (18:00 UTC) 11 AM British Summer Time (10:00 UTC) Come chat to us at: https://www.twitch.tv/ripplexdev -Matt
  6. Please take this with a small pinch of salt. It's work in progress so I haven't thought it all the way through 100%. I'd like to call upon some old pals who are smarter than me: @KarmaCoverage @tulo @kanaas @protechtor @cmbartley @baggy23 @yxxyun @Mercury @mars75 @Graine @Global @jn_r @brianwalden @Parabellum etc, to help me thrash this out and debunk/critique as necessary. –––––––––––––––––––––––––––– x-Assets Synthetic, XRP-collateralized, price-pegged digital assets. Collateral could be 1.5:1, 2:1, 3:1 as necessary. Based on the XRP Ledger Stablecoin Proposal by David Schwartz: xUSD xEUR xXAU xXAG xBTC xLTC xMXN xQQQ xAPPL xTSLA xWTI (etc) Assets inside exchange orderbooks are always "synthetic" or IOUs of some sort because on-ledger exchanges (even XRPL's DEX) cannot handle such immense trading volumes. The exchanges hold "real" assets in the back end (either bought "on demand" or most likely in advance bought at bulk or at their own risk), so when you want to cash out you convert the (for example) BTC "IOU" to BTC. Instead of exchanges holding multiple real assets, what if some exchanges only held a quantity of XRP (over-collateralized, say 200%) that's required to buy back those assets upon cashing out? -- @KarmaCoverage rightly mentioned (below) that ILP ledgers can do this; @tulo made a great thread back in 2017 re: ILP & multihop -- The problem is that there are any given number of assets with particular quirks e.g. bitcoin and its slow transaction time. Or some niche digital gold ledger somewhere. So exchanges still have to buy/hold the actual asset "somewhere" to make the withdrawal. But stablecoins prove that synthetics can work. Just look at USDT (aka Tether). What it allows is for better rebalancing and liquidity between exchanges. Users can port USDT to any supporting exchange and hold. Tether acts as a treasury or rebalancing mechanism. But it's still slow and requires trusting the Tether treasurers! Let's assume exchanges support an x-Asset standard instead: xUSD, xMXN to start. Instead of e.g. using ODL for remittance (where we know Ripple have had rebalancing issues) the usual way – deposit to USD exchange (slow), swap to XRP (fee), withdrawal of XRP to MXN exchange (slow, possible fee) and another conversion from XRP to MXN (fee) then withdraw to MXN bank (slow, fee?) – this time a market maker (and/or collateral provider/issuer of some sort) holds only XRP and uses the XRPL's pegged stablecoin feature to create a synthetic 200% backed xUSD / xMXN on the XRP ledger. These synthetics move in 3 sec just like XRP, because they are XRP! But remember, these also behave like "real" USD or MXN for holders thanks to price oracles (perhaps supplied by Flare, Tezos, Chainlink?) so that they always guarantee the same market value upon redemption. That price volatility risk is managed profitably by the issuers (and market makers?). Since the exchanges support x-Assets directly, the market makers (MMs) can quote for a remittance flow from e.g. USD->MXN and since we know the XRP value of both USD and MXN, we can also calculate this in XRP. So all the MM is doing is moving XRP from the xUSD to the xMXN (or vice versa). Or, XRP is just rebalancing instantly from one "pot" to another, so to speak. Going from xUSD to xMXN is really just an XRP tradeoff in a collateral pool. Side note: this might be what parts of Bob Way's patents were alluding to (or not). I believe (but I'm not 100% sure) this gets rid of at least one of the two fees that's been a problem for ODL on traditional exchanges where you have to go e.g. from Kraken (USA, fees) to Bitso (MXN, fees) and cannot also guarantee their withdrawals will be timely. So instead, we're just moving XRP direct and only incurr the XRPL fee plus whatever the MM quotes. Now notice in the bottom graphics that I've put examples of various synthetics trading with one another without XRP, which is a weird notion. E.g. xXAG (silver) & xQQQ (NASDAQ). But remember, these are all just XRP anyway. But I think it's possible. They are really just "pots" being refilled like water flowing from one to another on-demand. The water is XRP. Just for fun really. Also notice one can get a total calculation of volume (in XRP, of course) for the entire orderbook slot. So rebalancing is in theory very easy to calculate here to top-up one-way flows. Remittance/ODL? The main point though, is how a remittance flow would work through this system vs ODL. How the rebalancing gets done. Because now it's just a matter of moving XRP from pot to pot. However, at some point the x-Asset has to hit a real bank account. Unless of course... banks are part of the "pool" in some way. But my brain can't play out all the pieces and I start getting a headache and thinking... maybe this is all total crap?! We know under David's proposal that x-Asset issuers will get rewarded for taking over other positions and providing excess collateral to guarantee redemptions and so on. So the game theory works for this part and provides a sort of long-fabled liquidity incentive (Miguel?!) in the meantime (possibly related to Bob Way's automated, scalable and non-partisan mechanism for allocating XRP on the DEX). Questions/problems Anyway my questions to you guys, are: 1/ How and by whom does this rebalancing take place when new money comes into exchanges e.g. speculators/traders/retail? Who accounts for the extra flows? 2/ What happens at the point of withdrawal to a real bank account? Is that actually faster than just having regular exchanges, or the same? 3/ What if the Banks themselves simply hold and rebalance x-Assets (xPool?) until they need to withdraw in bulk? 4/ What if consumer-end apps and pseudo-banks e.g. Uphold, Gatehub, Coinbase, even Paypal/Revolut, started accepting an x-Asset type standard? 5/ Could x-Asset rebalancing between exchanges/pools be achieved in an automated fashion by an XRPL native AI/monitoring system? 6/ Is this a useful implementation for Offer Auto-Bridging? @nikb 7/ Is this really a legit thought experiment?! Am I wrong or completely bonkers?! PLEASE DON'T ROAST ME ALIVE!!! . . –––––––––––––––––––––––––––––––––––––––––––––––– . . REFERENCE MATERIAL (reading to do if this is all new):
  7. (1/2) - 22 February 2020 Although never confirmed by Jed McCaleb, the "tacostand" XRP wallet (rEhKZcz5Ndjm9BzZmmKrtvhXPnSWByssDv) is well-known to belong to him. A quick look at the wallet and its transactions (https://bithomp.com/explorer/rEhKZcz5Ndjm9BzZmmKrtvhXPnSWByssDv) and you will quickly notice that Mr McCaleb manages his funds following a very strict routine. Every morning at 08:02 UTC, 1.7M XRP are sent to another wallet. The so-called wallet, activated by Jed, is then "in charge" of selling the XRP. A rigorous routine is also in place. Wait 09:00 UTC and you will see on the ledger the first "create offer". Offer that is usually selling 1M XRP for USD Bitstamp (IOU). Keep an eye on the XRP:USD.Bitstamp orderbook and you will see that the order is algorithmically managed. The price (exchange rate) of the limit order is, if needed, constantly adjusted. As an example, last Thursday (2020-02-20), the limit order was canceled and re placed 13 times. Jed aims to sell the XRP. The more the offer is at the edge of / at a competitive price on the orderbook, the more chance it has to be filled. However, this Saturday morning, 22 February 2020, Jed's automated bot sold 1.7M XRP for ... $188,456 USD, meaning that it sold at an approximate XRP:USD price of ... 0.11 USD. The price this Saturday morning being around 0.271 USD. The candle below highlights the magnitude of the slippage. Details of the transactions: https://bithomp.com/explorer/E470541E262C6DA171CFCBBD7A115A0F12EADE6B21360DDDC936723093CF6528 https://bithomp.com/explorer/4D705B1F0EC0C4B3DD01198EBDC01345528067F5CC3C280FB16D1C1FED9A8636 https://bithomp.com/explorer/AD536145D6F76EF8E019E897C200F4635DD20ABEE8EC2B20C9140706057C5E5D A trade has two participants, a buyer and a seller. Selling at a discount of 0.59% means that an individual (or group of individuals) made approx 270,000 USD of profit this morning. Luck or Jed's bot generosity is not, as you guess, the explanation of the dramatic event. The attacker (https://bithomp.com/explorer/raBmhBNmYFGe5hJ5Gez2MbpNspewctCAGv) has been preparing his/her/their coup de grâce. Although only successul today, the attacker has been groping for the flaw. Transaction activities of the wallet indicate that the wallet has been active on the XRP:USD.Bitstamp trading pair for at least two months. The wallet sold this morning around 1M XRP, cleaning all the liquidity / depth of the bids of the orderbook, then placed the first killing order (1) that Jed's bot decide to take, then the second killing order (2). Jed's bot also hit the bid for the latter. (1): https://bithomp.com/explorer/FEDC30F932389FC34D126172E26ACD10D79CAD78ACEA360B44B82ABA25868087 (2): https://bithomp.com/explorer/0E3372A2F43154B02100CEF29C941FBC85084EF2BDCA65FA7DCD4ACA709F214E The attacker does not act alone. Sub-wallets 1 (https://bithomp.com/explorer/rHjzw8L2ZBNhLfWw3yv8AY1hf1QYnRMriR) and 2 (https://bithomp.com/explorer/r9ujfsgebDGPEoQP7WFYcVrhEKQZPKVGd7), activated by the one mentionned above, looked like to have specific roles. Mostly create counter orders, allowing front running kind of strategy. To be continued... Many interesting unanswered questions: - What was the specific technical flaw the attacker took advantage of? - What is the profitability of the attack? (taking into account potential front running costs - previous tests / iterations before finding the flaw) - Will the attack repeat itself tomorrow? / Had Jed noticed the event? (2/2) - 25 February 2020 Yes. As you can see below, the attack was repeated every day since the first successful attempt. More active market participants during the week than the weekend has probably a positive impact (less slippage) on Jed's bot loss, although today's data indicate that the attacker had a +10% discount on the XRP bought. When yesterday, on Monday February 24th, many bids populated the orderbook, therefore reducing the potential slippage and the arbitrage gain, the attacker does not seem to be discouraged. The malicious wallet even sent few payments with some interesting memo (here below) to push for more cooperation... Cooperation that was indeed tried, successfully or not, in the past. Look at the memo below regarding a payment sent early January. A payment got some echo (payback, as a sign of approval for cooperation?) on at least one receiver. Please note that the client description below recalls some other events (https://medium.com/@john.cantell/hi-renier-8f887aee027b). John Nash would have been proud. Even in a decentralised exchange the concept of game theory can stand. Memo can support text messages, allowing market participants to communicate with each other and therefore, look at decision not in isolation but as being part of different interactions. As regards Jed's bot flaw, it seems that the algorithm takes decisions based on: the distance to the best ask: replacing the order to make sure that it is at the edge of the ask side the bid ask spread the volume depth of the bids: Jed's bot hits the attacker bids (in all examples), meaning that Jed's bot decides to hit the bid if the slippage is not too important and if a tight spread (mentionned above) is true Note that the above are assumptions and educated guesses. Digging into the transactions is probably the best way to know more about it. I am quite surprised that (my assumption) there is no outside / off ledger element Jed's bot relies on. For instance, the XRP:USD spot price of another (liquid) market, making sure that the decision to place an order on the ledger at x price is not irrational compare to the latter. The best for that being probably the BitMex XRP:USD spot index (https://www.bitmex.com/app/index/.BXRP). Peace.
  8. I'm running XRPL validator (public key: nHBmJuwMPRh2mLrYhUdFHNKrZ3cwXEkiGAKXESM4mDvQKMF8WAp7) based on Wietse's Wind docker rippled validator repo (https://github.com/WietseWind/docker-rippled-validator). It's up and running newest rippled version 1.2.0. Now I'm trying to validate my (sub)domain (again according to the instructions of Wietse - https://medium.com/@WietseWind/verify-your-ripple-validator-show-your-domain-da19de30b19bbut) with no success. I'm little bit desperate and really don't know what I'm doing wrong. Hope someone can help me. After a few attempts I ended up with following configuration: Server 1 (S1): web hosting with simple web presentation https://www.rippled.eu Server 2 (S2): with rippled validator running CentOS with webserver running and serving subdomain https://validator.rippled.eu I edited apache ssl configuration file (ssl.conf) with these parameters: ServerName validator.rippled.eu SSLCertificateFile /.../validator.rippled.eu/cert.pem SSLCertificateKeyFile /.../validator.rippled.eu/privkey.pem SSLCertificateChainFile /.../validator.rippled.eu/chain.pem Both servers has its own Let's Encrypt certificate (S1 *.rippled.eu, S2 validator.ripppled.eu). Certificates were generated using Certbot on S2. On S1 I uploaded thru administration control panel of my webhosting service. Web browsers displays that certificates are valid. S1 has DNS A record (validator.rippled.eu and *.validator.rippled.eu pointing to public IP of S2) In verification process I'm running following command: "docker run --rm -it -v /keystore/:/keystore/ -p 80:80 xrptipbot/verify-rippledvalidator" Next listing is as folows: So I ran next command: docker exec rippledvalidator /keystore/finish_signing In final step I inserted requested data into Google Docs "XRP Ledger Validator Domain Verification" document Email: my email Domain: validator.rippled.eu Validator public key: nHBmJuwMPRh2mLrYhUdFHNKrZ3cwXEkiGAKXESM4mDvQKMF8WAp7 SSL Signature: 512B long hash Domain Signature: 128B long hash Everytime I tried, I received email with following message: Could someone point me where I'm making mistake, what's wrong with my certificate or verification process? Why is verification process missing my certificate? Am I missing something in apache configuration files (https.conf, ssl.conf) or rippled config file (rippled.cfg)? I'll be glad for every suggestion or help. Thank you.
  9. As Twitter has revamped its Lists feature, I decided to put one together that includes XRPL Developers and also Twitter handles of their projects. The list is a work in progress and suggestions are always welcome. Let's follow and support those who buidl and contribute instead of those who are only here to sell hopium for the follows Here's the link: https://twitter.com/i/lists/1279847872461246464
  10. I'd like to invite you to check out XRPLore, my new blog in Coil where I post about the ever-growing list of projects that either have been built or are in the works around the XRP Ledger. The objectives of XRPLore are to help spread the word about the outstanding work done by the Developers within the XRP Community through their projects, while also supporting the One More Home XRP fundraiser via Coil streams that result from Coil subscribers reading the weekly project spotlight and accessing the curated list which will be updated every month to reveal the projects covered each coming month. https://coil.com/p/moncho/XRPLORE/IqobsS8Bz Would really appreciate your feedback!
  11. Hey All! I wanted to share my latest blog. A long overdue XRPLORE edition about one of the legacy XRPL projects and a key player in the XRP ecosystem: Bithomp. If you find yourself with some extra time, I invite you to browse through the different posts I have written in Coil on XRPL projects (8 so far counting now Bithomp) I hope you and your loved ones are safe in these difficult times. https://coil.com/p/moncho/XRPLORE-Bithomp/5TLiO4Lt
  12. Thomas Silkjaer was really kind in letting me have a sneak peek into his latest project Xrplorer and write an early preview about it. xrplorer is a graph database representation of the XRPL, it is currently in the final stage of filling the database and will be released soon. I'd like to share the link to the post: https://coil.com/p/moncho/XRPLORE-A-Sneak-Peek-on-XRPLORER/qXYmWJ3HI
  13. Maybe I missed this acquisition announcement, but It appears that Ripple has acquired TOWO Labs, a startup based in Sweden October 17th 2019 per Crunchbase. The only announcement that I could find linking TOWO Labs to Ripple prior to this was a Xpring investment that was announced by Danny Aranda on October 16th, 2019. TOWO Labs confirmed the investment with an announcement of their own via a Coil post: "Towo Labs, a Swedish startup aimed at simplifying crypto self-custody, today announced a strategic investment from Xpring, Ripple’s developer initiative to build the internet of value." "The investment will support Towo Labs’ development of hardware wallet firmware with support for all XRP Ledger (XRPL) transaction types and a trustless, non-custodial web interface to the XRP Ledger." "At the outset, Towo Labs will focus on developing hardware wallet firmware with full XRPL support for Ledger Nano S, Ledger Nano X and Trezor T — making it easier to securely sign any transaction type. All open-source code contributions will be subject to the involved repositories normal contribution guidelines. Today’s existing firmware only supports XRP payment transactions, which in some cases block further XRPL and Interledger innovation. The new firmware, however, will support the signing of cross-currency payments, trust lines, escrows, orders, payment channels, account settings and so forth." The only acquisitions that I was aware of were Logos, Strata Labs, and Algrim, all of which Ripple/Xpring publicly announced.
  14. Calling all developers 👨‍💻👩‍💻 CoinField is offering a new incentive program for Open Source Developers! "...developers around the world will be encouraged to participate and create new open source projects built on top of the XRP ledger." 💻 The project: Sologenic is an ecosystem that was developed by CoinField Exchange in 2019. The aim of Sologenic is to build the bridge between cryptocurrencies and traditional financial markets by allowing traders to instantly trade stocks, ETFs and cryptocurrencies, making CoinField a one-stop-shop for all your trading needs. Within the Sologenic ecosystem, there are three main components: Tokenize/Trade Sologenic’s native token (SOLO), is used in order to buy or sell up to 30,000 stocks & ETFs from the top 25 global stock exchanges, instantly over the XRP ledger. For example, if a client wants to buy a share of TSLA stock they can execute the trade, the third party broker will hold the stock in a trust, and Sologenic’s ecosystem will instantly tokenize your asset, backing it 1:1, reflecting the price of the asset. Spend Instantly spend your crypto anywhere in the world in real-time with the FREE Sologenic Crypto Card. We offer 4 tiers of cards based on the amount of SOLO you hold in your wallet, They offer a variety of different perks such as monthly rebates, airport lounge access & discounts. Earn Earn with the Liquidity Provider Reward Program (LPRP) SOLO holders have the option to participate in the LPRP program and earn up to 20% in rewards annually. For detailed information about the Sologenic Ecosystem please read the white paper on www.sologenic.com Sign up here 👉 http://ow.ly/d1NC50xs1V8 Press Release👇 http://ow.ly/eroq50xs1V6
  15. Hi everyone! This Friday CoinField is hosting a live AMA session on Friday, December 6th at 9:30 AM PST with the two brains behind Sologenic. Please leave any questions you have for Bob + Reza in the comments below and the best questions will be addressed in the AMA! Project: www.sologenic.com Link to AMA: https://www.youtube.com/watch?v=dzUr9-W5AXM #GoSOLO
  16. CoinField will send out 50,000 invitations to the Sologenic VIP Pre-Sale on Friday, November 22. Only 40 million SOLO tokens will be available for purchase at a discounted rate to a limited amount of participants before the public sale in Q1 2020. The Pre-Sale is set to take place December 9-16, 2019, just days after Sologenic was nominated as “DeFi Project of the Year” at a leading blockchain conference in Malta. Check out the full story: https://finance.yahoo.com/amphtml/news/coinfield-sends-limited-invites-solo-120400023.html
  17. Didn't see this posted yet - article below. This could lead to some interesting things and accelerate XRP's deflation rate depending on the burn mechanics. https://coil.com/p/xpring/Investing-in-Flare-Networks-/srIKao0Kf
  18. Myself and afew other community members are putting together a website that users can use to interact with the ledger. We already have a server setup with the full ledger being downloaded.(75% done) The websites main purpose will be for analyzing the ledger data in various ways as well as keeping track of wallets and more. As of now there is a ton of information scattered across the community in spreadsheets and we are really hoping to provide a place that allows everyone a chance to get a nice visual and interactive, All in one experience. There are members in the community that go well out of their way to provide data. However, there is not much of a way for everyone to add to that data. We have many ideas being worked on for the site and would not mind other members to get involved, whether it is ideas they would like to see or developers who want to be hands on. Feel free to PM me on here or same username inside the XRP discord!
  19. https://xrpripplenews.com/2019/10/20/why-xrp-odl-will-transform-our-world-why-its-about-to-explode/
  20. ""This new ecosystem is the most sophisticated project ever built on top of XRPL, and it is the best use case for that. We believe this will be a big step forward for the whole industry and the mass adoption of XRP blockchain," "More information will be announced to the public on October 15, 2019." Source: https://m.insidertracking.com/coinfield-launches-xrp-validator-in-preparation-for-the-upcoming-xrpl-project Tnx to Bank XRP (Twitter handle @BankXRP)
  21. Hi, Definition of the Blockchain according to the JoelKatz blog (https://www.distributedagreement.com/2018/09/24/what-is-a-blockchain/) """ A blockchain is a series of states of a distributed ledger where each state, except the first, contains a secure reference to the prior state and sufficient information to demonstrate that the transition from that prior state is valid according to the system’s rules.""" It is clear for me how it achieves 'secure reference' in the case of Bitcoin block since if we changed any piece of byte in the block it would be revealed quickly with hash calculation. On the other hand it would be hard to reproduce hash value for the modified block with the proper difficulty level. My question is how does XRPL create secure reference to the prior state? since in the case of XRPL there is no such concept that we called difficulty level of hash (number of leading zeros). How could be secure? Why is it hard to create and easy to check the secure reference in XRPL? Can you explain me how it works? Thanks in advance
  22. Hi all, I've been trying to do some tests with checks (https://xrpl.org/checks.html) for a project of mine. I'm using the test net (wss://s.altnet.rippletest.net:51233). I can successfully do checkCreate transactions but cannot seem to do a checkCash (tecNO_ENTRY: No matching entry found). I'm using ripple-lib in order to generate those checks. The currency used is XRP, not an issued currency. The test is for 1 XRP or 1000000 drops. Here's the checkCreate transaction: https://testnet.xrpl.org/transactions/F0A3342809F466A216D7930F3001AAAC3CC41877BFEA29A3CC88B4781CC4AC41 Here's the failed checkCash transaction: https://testnet.xrpl.org/transactions/25C901046A4E97B262448EBE339EDC00BBEFDB8366F3ED2E7D499089E8CE6671 The checkID used to do the checkCreate and checkCash is: ABCDEFABABCDEFABABCDEFABABCDEFABABCDEFABABCDEFABABCDEFABABCDEFAF I just can't figure out what I'm doing wrong. I've read the documentation on xrpl.org, tried with 'drops' and 'XRP' as currencies (both ways are used in the doc) but I always get a tecNO_ENTRY. Maybe the Check amendment is not active on the test net node I'm using? How can I know that? Thanks a bunch for your help.
  23. https://todaysgazette.com/kava-labs-is-developing-ripples-xrp-collaterised-stablecoin/
  24. Although arguments can be made against the notion of future adoption of the XRPL by the financial system thru supporting the retention of the current international payment system or emphasizing the technological progress in the SWIFT payment network, they fail to address critical flaws in today’s system. Hackers, political pressure, regulators, and the shrinking correspondent banking system are all legitimate issues that are impacting banking operations. Most international payments are facilitated through the SWIFT network today. SWIFT is a messaging network used to send and receive information on financial transactions between financial institutions. Currently, more than 11,000 financial institutions from around the world are linked to the SWIFT network for operations. Typically, the originating bank is required to have a working relationship with the destination bank in international wire transfers. If there is none, the originating bank can search the SWIFT network for a correspondent bank that has one with both banks.(2) Once found, the transaction is transferred through Nostro accounts held at the intermediary bank for a fee to the destination bank. Although SWIFT’s inception has proven to be beneficial in enabling international payments between banks globally, it’s reliance or the monopolistic position has become a double-edged sword. Due to their international relationships, SWIFT was viewed as an apolitical organization that was independent of any country’s domestic foreign policy. Unfortunately, this has not been proven the case the past few years as political disputes now threaten to fragment the international payments space. Regardless of your political views towards Iran, the United States pressure on SWIFT to disconnect Iranian financial institutions from the network has been unprecedented. While the action undergone by SWIFT contradicts the European Union’s desires. Although the EU intends to maintain trade with Iranian institutions, SWIFT complied with the US requests.(3) With the consequence being that now the international payment network has become weaponized to exert political pressure onto countries or regions. This undermines the trust within the network as participants can ultimately be on the wrong side of political discourse. Along with Iranian FIs, there has been heavy speculation from US media sources and diplomats that Russian financial institutions might face similar sanctions to their Iranian counterparts in the future.(4) Further eroding any participant confidence in SWIFT remaining apolitical. SWIFT’s inability to remain impartial to the network’s participants is already beginning to have repercussions. In Europe, there has been a political push back on the US influence over the payment network. Germany's foreign minister, Heiko Maas, has publicly stated that the EU should "strengthen European autonomy by creating payment channels that are independent of the United States — a European Monetary Fund and an independent SWIFT system".(5) Even more striking were Maas’ comments that the EU had already begun the process of developing an alternative payment system. Both Iran and Russia have also taken similar responses to the EU. Iran has begun implementing an alternative banking platform for banking transactions with foreign institutions.(6) Meanwhile, Russian financial institutions have prepared themselves to be disconnected from the SWIFT network at a moments notice and have begun to adopt another alternative payment system CIPS. CIPS or the Chinese Alternative Global Payments System is also an alternative payment platform provided by China. CIPS was intended to make transactions between China and Russia easier while enticing other countries to utilize the system.(7) Russia has also begun to develop its own payment system called the “System for Transfer of Financial Messages” (SPFS). Essentially, the global political environment has pushed regions or countries to develop or adopt alternative solutions to SWIFT. Creating an ever growing, fragmented international payment network that will require interoperability between systems. SWIFT’s security has also been exploited these past several years, further testing the participant's trust of the network. Along with the frequency of these hacks occurring, the severity of them is increasing. Of the top five biggest SWIFT hacks by money lost, four of them have occurred within the past two years.(8) The sophistication of these attacks is becoming so advanced for SWIFT’s liking that they have begun to issue warnings and urge participants to increase their security measures.(9) In some attacks, hackers have been able to order payments to banks in other countries by copying preformatted payment requests into the SWIFT messaging software. Even further eroding trust in the network’s security, it was discovered that the NSA had breached SWIFT’s security and have developed tools for its operations. Thru leaked documents and files by a hacker group, the public was made aware of how the NSA had accessed the messaging system. Possibly setting in an uncomfortable feeling for financial institutions located in Eastern countries that the SWIFT network is a possible vector for attacks. Structurally, the correspondent banking system has been on a gradual decline for several years while total volume and value of payments through SWIFT are increasing. The Financial Stability Board conducted a study in which the FSB found that from 2011 to the end of 2017, active correspondent relationships declined by 15.5 percent across all currencies.(1) While for 2017 alone, it declined by 4.1 percent. More recent studies have concluded that 2018 saw declines in active relationships and corridors of about 3.5% and 2% respectively.(11) With the global correspondent banking network now declining by about 20% and the number of active corridors having fallen by roughly 10% the past seven years. This decline in active correspondent relationships has also coincided with the increased concentration within the correspondent banking market. Remaining participants in the network have their market share increase as competing banks exit the system. Both these trends pose respective risks and issues to the banking system. An increase in the volume of payments with the decrease in the number of correspondent relationships is theorized to increase the length of the payment chains. Implying payments will need to be facilitated thru more intermediary parties to reach the same destination. Possibly adding more exchange or transaction fees along with increasing the settlement time. Meanwhile, a concentration in the correspondent banking market introduces an unwelcoming scenario. Theorized consequences include a decrease in the competition of services, leading to higher costs and more fragile networks. As the payment network relies on fewer participants to facilitate payments, the failure of a participant will have greater repercussions as they are more relied on. Ultimately, the global political environment is causing a fragmentation of the global payment system while the financial system is gradually entering a delicate state. Both trends have already begun to force global and financial institutions to adapt and find alternative systems. Regardless of what SWIFT can develop to enhance it’s services to its participants, there will be issues the organization cannot resolve. Interoperability will more than likely be the key in enabling the future global payment space to withstand any geopolitical shocks, along with providing a crucial capability if the financial system is under strain due to the structure of the correspondent banking system. Placing Ripple’s xCurrent or ILP in an advantageous position. 1. https://bankingjournal.aba.com/2018/11/basel-decline-in-global-correspondent-banking-relationships-accelerates/ 2. https://www.investopedia.com/terms/c/correspondent-bank.asp 3. https://www.ft.com/content/8f16f8aa-e104-11e8-8e70-5e22a430c1ad 4. https://www.voanews.com/a/us-diplomat-russia-should-release-ukrainian-sailors-by-christmas-/4688911.html 5. https://www.businessinsider.com/germany-wants-european-rival-to-us-backed-swift-payment-system-2018-8 6. https://en.mehrnews.com/news/139715/Iran-welcomes-foreign-banks-to-join-its-alternative-to-SWIFT 7. https://ethereumworldnews.com/after-ripple-chinas-cips-now-competes-with-swift-departure-from-us-dollar/ 8. https://medium.com/@kvantorcom/top-5-biggest-swift-hacks-52fca78145c 9. https://www.reuters.com/article/us-cyber-heist-warning/swift-warns-banks-on-cyber-heists-as-hack-sophistication-grows-idUSKBN1DT012 10. https://www.reuters.com/article/us-usa-cyber-swift/hacker-documents-show-nsa-tools-for-breaching-global-money-transfer-system-idUSKBN17H0NX 11. https://www.bis.org/cpmi/paysysinfo/corr_bank_data/corr_bank_data_commentary_1905.htm
  25. Blog URL: https://xrpcommunity.blog/introduction-to-xrp-2019-edition/ Just published the updated, 2019 version of an "Introduction to XRP" on the XRP Community 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 thank you 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
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