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AlexCobb

You Need Check Out This Memo On a 1 Billion XRP Escrow Transaction!

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I'm not exactly sure, but more knowledgeable guys on the XRP Ledger than me said that the last time someone put the gif with the Arab in the memo, that anyone who knows how to code can release the escrow when is the day to be released. They can put in the memo anything they like.

For this memo it could be from someone who knows, but most likely is someone that who is ******* with us.

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11 minutes ago, Sukrim said:

Escrow or EscrowRelease transaction? That's a VERY big difference...

Would you be able to elaborate on the differences between the two and who can and can't initiate these transactions?

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Ok,Create an escrow release for 1 billion with your name on the memo
It's you who makes all those videos about xrp and doesn't believe and understand Escrow release? Everyone can do it once the end date has been reached. Doesn't mean you get the xrp.
What you ask has actually been proven before in this forum.

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1 minute ago, Sukrim said:

Yes. https://developers.ripple.com/escrow.html

EscrowCreate: Someone who has XRP can lock them up for a certain amount of time and/or until a secret is revealed. The receiving account is chosen and can't be changed by the one sending this transaction (in the "billion escrow" case, that's Ripple).
EscrowRelease: After time passed and/or if someone knows the secret, it is possible for ANYONE to send this transaction which releases the money to its predefined location. I wrote a quick guide about this here: 

Sending such a transaction with any kind of memo embeddded can be done by literally more than a million accounts at the moment.

I think you can also do it with the bithomp tools:

https://bithomp.com/tools/

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8 minutes ago, AlexCobb said:

Would you be able to elaborate on the differences between the two and who can and can't initiate these transactions?

An EscrowCreate transaction requires the initiator to have the required amount of XRP that is to be escrowed, otherwise the transaction will fail.

Once an escrow reaches its end of life, be it due to its expiration date having passed or its crypto conditions being fulfilled, the escrow needs to be release. The release is not automatic, as the XRPL doesn't support time-based triggers. A specific transaction is needed to release the escrow, and anyone can initiate that release transaction.

 

Quote

Step 1: To send an escrow, the sender uses an EscrowCreate transaction to lock up some XRP. This transaction defines a finish time, an expiration time, or both. The transaction may also define a crypto-condition that must be fulfilled to finish the escrow. This transaction must define an intended recipient for the XRP; the recipient may be the same as the sender.

Quote

Step 2: After this transaction has been processed, the XRP Ledger has an Escrow object that holds the escrowed XRP. This object contains the properties of the escrow as defined by the transaction that created it. If this escrow has a finish time, no one can access the XRP before then.

Quote

Step 3: The recipient, or any other XRP Ledger address, sends an EscrowFinish transaction to deliver the XRP. If the correct conditions are met, this destroys the Escrow object in the ledger and credits the XRP to the intended recipient. If the escrow has a crypto-condition, this transaction must include a fulfillment for that condition. If the escrow has an expiration time that has already passed, the EscrowFinish transaction instead fails with the code tecNO_PERMISSION.

 

Reference

XRP Ledger Dev Portal > Home > Docs > Concepts > Complex Payment Types > Escrow

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