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Difference between ILP & XRPL


Robcalum
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Hi

if anyone can help I’m trying to understand the difference between the XRP ledger and the Inter Ledger Protocol (ILP)

i understand xvia, xcurrent & Xrapid are built on the ILP.

ripplenet I have read is built on the XRP ledger.

Is the XRP Ledger built into the ILP as standard?

Are all transactions done on the XRPL and the ILP is just a way of different ledgers communicating with each other, but no transactions take place on it?

What is the difference?

Thank you

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@Robcalum, some of your statements above are not correct but nevermind. 

XRP Ledger is a decentralized cryptographic ledger, you could say it is similar to Bitcoin’s ledger or Visa. ILP is a protocol which can potentially connect all ledgers. Protocol is just a standard, no transactions take place on it.

If you imagine a graph, different ledgers would be nodes and ILP would ensure that edges between those nodes exist (it does not provide connectors though, just specifies how the connectors should look like).

P.S. You should read this article to understand the thinking behind ILP better - https://medium.com/interledger-blog/simplifying-interledger-the-graveyard-of-possible-protocol-features-b35bf67439be

Edited by Lamberth
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Thank you for the reply.

i will read the article,

do you know why ripplenet is built on the XRPL and it says the products like xcurrent are using the ILP?

Do you know if all transactions that happen with XRP are done on the XRPL?

sorry if it’s basic but I just want to understand it more.

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11 minutes ago, Robcalum said:

do you know why ripplenet is built on the XRPL and it says the products like xcurrent are using the ILP?

Do you know if all transactions that happen with XRP are done on the XRPL?

1. There is a lot of confusion what exactly RippleNet is (given it is a proprietary software). There are detailed descriptions of xCurrent and xRapid from 2017 (where you can see how and where ILP and XRPL are used) but I have never seen a new detailed architecture of RippleNet. I would guess that the architecture is still the same and RippleNet is a re-branding excercise.

2. All XRP transactions happen on XRPL (unless “XRPs” you are talking about are not real XRPs but IOU) - https://developers.ripple.com/xrp-ledger-overview.html

Edited by Lamberth
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RippleNet is the name given by Ripple for the entire ecosystem Ripple has built, that includes the 3 products (xCurrent, xRapid, xVia) and the open source XRP ledger. This is more of a marketing exercise (A very good one at that) than a new component.

ILP is the protocol with which all these components can interact with each other as well as other public and private ledgers

The reason for the marketing move to use the "RippleNet" name is because Ripple has advanced its vision to the point where it doesn't really matter if an institution is only using one of its products, because they can work with other institutions using other products from the Ripple portfolio.

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21 hours ago, LilBender said:

RippleNet is the name given by Ripple for the entire ecosystem Ripple has built, that includes the 3 products (xCurrent, xRapid, xVia) and the open source XRP ledger. This is more of a marketing exercise (A very good one at that) than a new component.

ILP is the protocol with which all these components can interact with each other as well as other public and private ledgers

The reason for the marketing move to use the "RippleNet" name is because Ripple has advanced its vision to the point where it doesn't really matter if an institution is only using one of its products, because they can work with other institutions using other products from the Ripple portfolio.

so genius. got it. youre calling it genius.

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  • 6 months later...

I don't understand how any other value can move across the ILP? If I have tokenised my business and I sell to someone the other side of the world. Does the ILP just transfer the tokens? How does it know the value of my business in order to transfer enough value to my buyer?

I'm assuming that the value going in needs to equal the value coming out, irrespective of how much that is but how does the ILP equate that value to a transmission medium like XRP? It's all very confusing!

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