Jump to content
JoelKatz

An update on Ripple's XRP escrow

Recommended Posts

3 hours ago, JoelKatz said:

If others created escrows intended to be used as time lock that set the release time in the "CancelAfter" field but have no "FinishAfter" or "Condition" field set, they will have the same issue. When I get a chance, I'll search the entire ledger for any such escrows post a list.

That’s great of you.   I was more interested to know if anyone using the ‘Reservoir’ escrow service are affected.

Perhaps @Di3twater could chime in

Edited by Khaleesi
Rephrased

Share this post


Link to post
Share on other sites

In preparation for the ensuing media exposure and price fallout, let's use the following terminology:

instead of 'defect', use 'feature'

instead of 'took out of escrow and back into new escrow', use 'upgraded the escrow"

instead of "other escrows being affected, list will be provided", use "customers that can benefit from the new escrow features"

Share this post


Link to post
Share on other sites

Because everyones probably thinking it, I'm optimistic this will have little effect on XRP's market price. Ripple has leaned into this problem with transparency, and just swapped the funds from one escrow into another which doesn't have the vulnerability. This was also less of a bug, and more of an oversight. I think it would benefit the community if the Ripple team, or someone with a deep understanding of the code base wrote up a technical case study that can connect the dots for us. 

Edited by nav

Share this post


Link to post
Share on other sites
4 minutes ago, nav said:

I'm optimistic this will have little effect on XRP's market price. 

hmm, as much as I hate to be the one to say it, there is no way the FUDders are going to let this one slip away easily.  Remember, the lockup was Ripple's ace up the sleeve.  Any loss of faith in the integrity of this mechanism is going to spiral into many unforseen consequences.  It may not even matter that the new escrow is bulletproof, the first one was also supposed to be bulletproof and a week later all the funds come out of it.  I believe this is going to haunt us for a bit.

Edited by galgitron

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

×
×
  • Create New...