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Misil

XRP-Native token to ILP

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Hi there,

Could someone provide some thoughts on the benefits of using XRP within Ripple platforms? It's been said that it provides further savings to transaction costs... but how is this achieved? 

My point is that if the argument is that it provides liquidity in the market, this is not a technical characteristic, so if one company wants to copy the model, just needs to do an ICO and launch another token?

Also, I know ILP and other softwares are open source, not patented. Is the code of XRP somehow protected, patented?

Thanks in advance to the community

 

 

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2 hours ago, Misil said:

My point is that if the argument is that it provides liquidity in the market, this is not a technical characteristic, so if one company wants to copy the model, just needs to do an ICO and launch another token?

Yeah, potentially it could happen, but Ripple would be years ahead in the competition.

2 hours ago, Misil said:

Also, I know ILP and other softwares are open source, not patented. Is the code of XRP somehow protected, patented?

Not patented, it's open source: https://github.com/ripple/rippled, and it has a specific license.

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4 hours ago, Misil said:

Hi there,

Could someone provide some thoughts on the benefits of using XRP within Ripple platforms? It's been said that it provides further savings to transaction costs... but how is this achieved? 

My point is that if the argument is that it provides liquidity in the market, this is not a technical characteristic, so if one company wants to copy the model, just needs to do an ICO and launch another token?

Also, I know ILP and other softwares are open source, not patented. Is the code of XRP somehow protected, patented?

Thanks in advance to the community

Are you implying that the sum of what Ripple has accomplished with XRP can be boiled down to open-source software? 

As for "how is this achieved?", that's been documented by Ripple here: https://ripple.com/files/xrp_cost_model_paper.pdf

 

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39 minutes ago, Hodor said:

Are you implying that the sum of what Ripple has accomplished with XRP can be boiled down to open-source software? 

As for "how is this achieved?", that's been documented by Ripple here: https://ripple.com/files/xrp_cost_model_paper.pdf

 

If we forget about the technical/software aspects of XRP, what have Ripple accomplished with it, except selling a lot for profit? I've seen it mentioned on their website, a few pdfs, the odd plug here and there.

I think the price of XRP is as high as it is because people see the  potential of XRP.

Now I hear the solitary Cuallix deployment will probably not add any volume to the exchange volume on the ledger when/if it ever goes live. If they are using the proprietary/secret software xCurrent their contact with the ledger may just be a payment between two MM accounts, or get a quote and route a payment directly through a MM exchange with xRapid/xTicker and not touch the XRPLedger at all! if so, why even use XRP (with its "better" software) and not just BTC with its much better liquidity?

Edited by elias

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11 minutes ago, elias said:

why even use XRP (with its "better" software) and not just BTC with its much better liquidity?

it's a good question -- xbt has much better liquidity

problem is, its slow confirmation time and not just slow but unpredictably so, making it hard to be factored into costs/projections

that's why xbt has failed as a p2p payments/money engine and is now purely a speculation/gambling engine

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50 minutes ago, Hodor said:

Are you implying that the sum of what Ripple has accomplished with XRP can be boiled down to open-source software? 

As for "how is this achieved?", that's been documented by Ripple here: https://ripple.com/files/xrp_cost_model_paper.pdf

 

Only asking to improve my technical knowledge on XRP and Ripple... No offence

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1 minute ago, zerpdigger said:

it's a good question -- xbt has much better liquidity

problem is, its slow confirmation time and not just slow but unpredictably so, making it hard to be factored into costs/projections

that's why xbt has failed as a p2p payments/money engine and is now purely a speculation/gambling engine

Thanks, of course, I forgot about the technical advantages of XRP in terms of speed. That's a good point.

And I imagine there are many more... Just wanted to find them out

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9 minutes ago, zerpdigger said:

it's a good question -- xbt has much better liquidity

problem is, its slow confirmation time and not just slow but unpredictably so, making it hard to be factored into costs/projections

that's why xbt has failed as a p2p payments/money engine and is now purely a speculation/gambling engine

the point is that if BTC liquidity is provided by exchanges in ILP, there you have instantaneous transactions because it's a private ledger.

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7 minutes ago, Misil said:

Thanks, of course, I forgot about the technical advantages of XRP in terms of speed. That's a good point.

And I imagine there are many more... Just wanted to find them out

yes, there are other benefits too but that's the simplified version i suppose

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1 minute ago, tulo said:

the point is that if BTC liquidity is provided by exchanges in ILP, there you have instantaneous transactions because it's a private ledger.

no this is two separate issues: settlement vs exchange

if you are moving actual assets and require settlement between parties, you can't use xbt as part of the hop (you can, but it's slow e.g. for escrow)

if you are moving funds around on exchanges, sure... you can use anything with liquidity: gold, xbt, xrp, stocks, airline miles...

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4 minutes ago, zerpdigger said:

no this is two separate issues: settlement vs exchange

if you are moving actual assets and require settlement between parties, you can't use xbt as part of the hop (you can, but it's slow e.g. for escrow)

if you are moving funds around on exchanges, sure... you can use anything with liquidity: gold, xbt, xrp, stocks, airline miles...

I wonder how much of the pie is settlement vs exchange, would Cuallix involve settlement with XRP or just exchange for example.

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2 minutes ago, zerpdigger said:

no this is two separate issues: settlement vs exchange

if you are moving actual assets and require settlement between parties, you can't use xbt as part of the hop (you can, but it's slow e.g. for escrow)

if you are moving funds around on exchanges, sure... you can use anything with liquidity: gold, xbt, xrp, stocks, airline miles...

No, this is an important point people don't understand...using ILP you have settlement, even if in between you move tokens or IOUs. If for a payment EUR-->USD from Reisebank to BoA, the path is (via ILP): EUR.Reisebank-->BTC.Bitstamp-->USD.Bitstamp-->USD.BoA, you have instant SETTLEMENT even if using BTC IOUs.

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1 minute ago, tulo said:

No, this is an important point people don't understand...using ILP you have settlement, even if in between you move tokens or IOUs. If for a payment EUR-->USD from Reisebank to BoA, the path is (via ILP): EUR.Reisebank-->BTC.Bitstamp-->USD.Bitstamp-->USD.BoA, you have instant SETTLEMENT even if using BTC IOUs.

erm... there is no settlement happening in bitcoin on your example... only exchange

the settlement occurs at the EUR and USD bank ledgers

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Just now, zerpdigger said:

erm... there is no settlement happening in bitcoin on your example... only exchange

the settlement occurs at the EUR and USD bank ledgers

Exactly...and that's what you want...why do u need settlement on real BTC blockchain or XRPLedger?

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Just now, tulo said:

Exactly...and that's what you want...why do u need settlement on real BTC blockchain or XRPLedger?

it depends on what you're trying to do... that's the point... if xrp is part of a hop, it's 4 secs, xbt is up tp ~1hr

but in your example, you'd not use xbt anyway... no point, as EUR/USD has liquidity

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