Chapter: Glossary of Terms

[BobWay]

Ripple uses lots of weird terms. It also uses terms you think you understand in non-standard ways. I'm going to use this thread to define things in one place so that everyone can link to the definitions from other threads.

I'm going to heavily moderate this thread to assure it stays just a list of terms and definitions.

Please add a term if you see a word you don't understand. If you can offer a definition to that term please add that as well. We'll work to moderate out the duplication in order to leave a clean list.

[Guest]

Settlement

(Damn, that requires a really long answer! It might even get its own chapter.)

Edited March 12, 2019 by Guest

[BobWay]

Trust Line

Any sane human being would call this an account. It is an object that maintains both a balance and a transaction history. Just like your check register or any other financial accounting system.

There are two reasons Ripple uses the term trust line rather than account.

1. Ryan Fugger's RipplePay used the term while developing the idea of social credit.
2. Ripple was created by programmers who think of an account as something you login to rather than something tracks your money.

You see the term trust line used a lot when talking about the XRP Ledger (XRPL) also formerly known as the Ripple Consensus Ledger (RCL).

[BobWay]

Address

(someone feel free to finish this definition and add the other two) 

NOTE: The three terms Address, Account and Wallet are often used interchangeably, but they mean subtly different things.

 

Edited March 12, 2019 by BobWay

[Liagala]

Account = Where your crypto lives.  Like your house.

Address = the reference that the system uses to find your account, just like your home address.  You don't live in the string of numbers and letters used to spell out "123 Main St, Anycity, Anycountry" but that string is how your mail and anything else finds the right place to go.

Wallet = the way you get into and out of your account, and interact with your funds.  People like to call it the front door of the house, but that's not really accurate.  It's more like what those Smart Home systems want you to picture in your mind when you think of their product (not what their product ACTUALLY does, but what they want you to think of). You tell it what you want, and it takes the necessary steps to make that result happen.

 

(Please delete if I'm wrong so this doesn't clutter up the thread)

[GiddyUp]

Rippling

This is probably really basic, but I have to admit I don't know exactly what it means...

[FOOD]

DLT

Edited March 13, 2019 by EcneitapLatnem

[FOOD]

ILP

Edited March 13, 2019 by EcneitapLatnem

[FOOD]

scalability

[FOOD]

lambo

Edited March 13, 2019 by EcneitapLatnem

[FOOD]

interoperability

[FOOD]

liquidity tool

[FOOD]

IOV

[thonypert]

Paper wallet

[FOOD]

Sharding