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Speed and scalability Ripple


kyo
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hi to all ripple friends , i would like to get the point of view about this ,   Telegram (TON) that claims their blockchain will  allows for processing millions of transactions per
second and they will have the capacity  to replace VISA or Mastercard , they have a budget of 620 million for this project ,  what is ripple doing to improve their system and speed up the number of transactions they can handle per second ?  can we see the ripple network by next year processing millions of transactions per second?

white paper leaked in TNW:

https://drive.google.com/file/d/1ucUeKg_NiR8RxNAonb8Q55jZha03WC0O/view

Edited by kyo
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What you have to ask yourself is this...What can Telegram do to garner the relationships that Ripple has in just one years time?

 

Additionally, what can Telegram do to get the high level former baking executives on board that Ripple has. These things take years and although it may be a great form of technology, you still need to have longevity in the industry. IMO

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@RippleRicky @Duke67 , i understand and agree with what both of your are saying and im a believer in ripple , ripple , btc . etherium allready pave the way for many other new blockchains and anything is possible just remember Lycos (1994) , Altavista 1995 and many more  they were king until google came in 1998 , we can't underestimate other competitors technology. 1 million transactions per second is big!! hope ripple will reach those levels before other company does

Edited by kyo
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42 minutes ago, kyo said:

they have a budget of 620 million for this project

I estimate that Ripple will have a budge that is measured in billions this year alone.  And they have a five-year head start. 

That being said, your example of Lycos and Altavista are spot on - Ripple has to keep focused and innovate not to lose their competitive advantage in the space. 

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Sorry but there is no whitepaper. There is a document with a lot of marketing bull**it. There was not any description of how to achieve the scale and speed they are talking about. When it comes to performance of applications you cannot simply throw a number into the room and claim that what you are doing is fast. There are a lot of different aspects to consider. An example is RaiBlocks. They also talk about being able to handle I don't know how many transactions concurrently. When you have a decentralized system you scale horizontally. Adding more nodes which are basically more peers to accept transactions add up to the overall transaction count the whole network can handle. When you then look at what one node is able to do we get to the core. For instance a single RaiBlocks node can only validate 2 to 3 transactions per second. Now put 1000 of these nodes together and the number the network handles goes up to 2000/3000. Now check what the Ripple node is able to do. AFAIK one Ripple node is able to validate 1500 transactions per second. The whole network runs on 5 validators. We are not saying that the Ripple network can handle 5 times 15000 transactions, because it cannot, because it has to validate. Same is for the lightning network. People claim it can handle billions of transactions. It might be able to accept them, but validating and settling is a totally different story, because the lightning network when being settled on the Bitcoin blockchain requires to open and close what they call channels and a transaction has to be validated in order to open or close a channel. This again limits the validation to 7 per second. So let people talk and claim what they want. I believe it when I read a real whitepaper and see the claimed load being handled in reality. Ripple Labs knows all this and if there would have been something better for their use case they would have done differently. 

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At what point does speed and scalability stop being so important?  We already know XRP can scale to handle the same throughput as Visa.    World class engineers and XRP's five-year track record of stable technology and governance makes it ready for institutional and enterprise use.  Something the competitors are lacking.  I just don't think the users would jump ship because someone else comes along with higher scalability.  But I do agree Ripple needs to keep on top of technology and always strive to be the best at everything they do.

Edited by 1todd960
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Pavel Durov (Telegram) don't have any chance against Ripple. In this case, relations with banks and financial institution in the first place, technology in the second. Durov easily can find financing for that project but he can never reach the level of cooperation with a financial institution which he will need on the global market. The maximum that he can achieve is to become Apple pay for Telegram. And do not forget that close past ties with Russian oligarchs/government do not play in his favor too.

Edited by MOONWALKER
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3 hours ago, Duke67 said:

I agree with @RippleRicky. They should start 5+ years ago and they would need to navigate the waters that successfully as Ripple Inc. had. Now it seems it's too late for them as the winner is firmly on the path to the finish line.

#XRPtheStandard

I agree Ripple can be the winner if SWIFT is not able to get things moved fast, but Ripple doesn't mean XRP. Ripple's solutions are great for banks and payment providers and treasuries, but ILP builds a level playing field for anything of value to compete for usage.

XRP must bu analysed as if it was not linked to a company that owns the routing, messaging and ledger solution.

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