XRP XRP Ledger’s path to decentralization: Ripple has less than 48% of validators on default UNL

[nomad_z]

Ladies and gents, just came across this bit of news, which is good and helps the case for declaring XRP as a non-security (in my opinion):

https://ambcrypto.com/xrp-ledgers-path-decentralization-ripple-less-than-48-of-validators-default-unl/

[cryptoxrp]

Hope that decentralization will also help speed up transactions to the Visa level. Because that is the real target the Ripple team should be aiming for in 2018.

Edited August 14, 2018 by cryptoxrp

[AB196]

https://ambcrypto.com/xrp-ledgers-path-decentralization-ripple-less-than-48-of-validators-default-unl/

[Men_of_coin]

This has been covered here a couple times, but it's very exciting!

[nomad_z]

5 hours ago, cryptoxrp said:

Hope that decentralization will also help speed up transactions to the Visa level. Because that is the real target the Ripple team should be aiming for in 2018.

I thought they had already tested it out last year and exceeded Visa on the private network. My understanding is 50,000 TPS with off-ledger txs. Native on-ledger TPS is 1500.

See just before halfway on this page:

https://ripple.com/xrp/

[cryptoxrp]

11 hours ago, vsyc said:

With paychan they already at visa level, or you mean on chain?

I mean my concern is with the on chain 1500 TPS. How is Ripple going to scale that to 15000 on chain TPS?

Off ledger transactions do at some time have to sync with the XRP ledger....or am I missing something?

Edited August 15, 2018 by cryptoxrp

[nomad_z]

2 hours ago, cryptoxrp said:

I mean my concern is with the on chain 1500 TPS. How is Ripple going to scale that to 15000 on chain TPS?

Off ledger transactions do at some time have to sync with the XRP ledger....or am I missing something?

I haven't done my research on this, so what I say may require search, but my understanding is that off ledger will be used for institutions who require the high tps. Perhaps the off-ledger will be a private ledger, which some banks and institutions prefer and it is the overall volume of the private ledger that gets reported on the native on-ledger. I'm no expert on this area, but if I get a chance, I'll try and dig deeper.

[Guest]

2 hours ago, cryptoxrp said:

Off ledger transactions do at some time have to sync with the XRP ledger....or am I missing something?

Ten thousand off ledger transactions can be settled with one net aggregated on-ledger transaction.  That can be done daily, hourly or every minute if required...  the institution will be able to pick and choose its methodology to suit it's needs.

Edit:. The ten thousand is just an arbitrary number...   any amount of trans can be settled with just one tran.

Edited August 15, 2018 by Guest
Clarify

[nomad_z]

1 minute ago, Tinyaccount said:

Ten thousand off ledger transactions can be settled with one net aggregated on-ledger transaction.  That can be done daily, hourly or every minute if required...  the institution will be able to pick and choose its methodology to suit it's needs.

Wow, that's huge! So for the TPS race, we are doing very well.

[cryptoxrp]

Tnx @Tinyaccount for the clarification. So decentralisation of validators AND Transactions Per Second on and off (private) ledger is well under control. 

Edited August 15, 2018 by cryptoxrp

[Guest]

Just now, nomad_z said:

Wow, that's huge! So for the TPS race, we are doing very well.

Yes but it is perhaps not what you are thinking....   The payment channel is like the existing visa system...  It can be scaled horizontally...  so if near capacity you just add more hardware.  But as transactions occur, unless they are perfectly balanced in value in both directions, a net movement of value occurs.  That is what is then settled with the on ledger transaction....  which can move any amount in four seconds or so.

Currently on ledger load tested can do 1500 per sec trans.  Cobalt is coming and that will bump that number up.  Meanwhile payment channels are available now,  so throughput should not be an issue since they are arbitrarily scalable.

 Although I'm supply answers here...  I am not an expert.  I have some IT experience and a fair understanding of transactional systems but the information about the Ripple software utilising the XRPLedger is not fully available as yet, so some of the above is filling in the blanks on what I know so far.  I'm sure there are many here with a much better understanding than me,  so you might get more detail if they chime in.

[Still1]

https://cryptocrimson.com/ripple-continues-to-decentralize-the-xrp-ledger-as-its-dominance-falls-to-21/

The total number of validators on the XRP ledger currently add up to 68 after the Ripple company initiated the increment of validators back in July 2017. In the announcement back in July that was made by the Ripple team to add 55 new validators, the following information was provided:

TODAY WE ARE EXCITED TO ANNOUNCE THAT THE XRP LEDGER ECOSYSTEM HAS EXPANDED TO 55 VALIDATOR NODES, AN INCREASE 

OF 120 PERCENT SINCE MAY. THESE NEW VALIDATORS INCLUDE WORLDLINK, TELINDUS-PROXIMUS GROUP, BAHNHOF (SWEDISH ISP) AND AT TOKYO CORPORATION, AND JOIN A GROWING NETWORK OF LEADING COMPANIES AND ORGANIZATIONS CURRENTLY VALIDATING TRANSACTIONS ON THE XRP LEDGER, INCLUDING MICROSOFT, MASSACHUSETTS INSTITUTE OF TECHNOLOGY (MIT) AND CGI.

Further checking the stats of validators on the Mini Validator List as of today, 15th August, we get a total of 68 validators with Ripple making up 21% of this number.

[Men_of_coin]

Nothing changed from yesterday, the author just turned off the (default UNL only) tab, it's still 48% dominance when that is turned on

Edited August 15, 2018 by Men_of_coin

[mikkelhviid]

8 minutes ago, Men_of_coin said:

Nothing changed from yesterday, the author just turned off the (default UNL only) tab, it's still 48% dominance when that is turned on

As stated in the article.

[Men_of_coin]

2 minutes ago, mikkelhviid said:

As stated in the article.

Correct, this article is crap though that's all I'm saying.