Gateways and rippled network

[Guest]

Hi,

I have some questions regarding gateways and rippled.

My first, is what does a gateway represents in term of nodes in the rippled network? does it run upon it own stock-server node? or as validator? Or could it be neither and rely on third-party nodes?

Then how does a gateway sends transactions to the network? 

And finally how are wallets managed by gateways. Does each client have a wallet that was created by the gateway (by sending the minimum 20XRP)? Or does the gateway have global wallets and "fakes" user wallet that does not really exists in the network?

Does the gateway manage the keys? Is it possible to relate a wallet that was created by a gateway to that gateway?

Thank you 

 

[Sukrim]

11 hours ago, ecaquot said:

My first, is what does a gateway represents in term of nodes in the rippled network? does it run upon it own stock-server node? or as validator? Or could it be neither and rely on third-party nodes?

A gateway is an entity that issues something on-ledger and (ideally) keeps the thing that's represented available upon request for deposits and withdrawals. You don't need to run a server for this at all, but then you are depending on someone else to run servers and make them available to you (without lying to you about the current state of the network) as well as forwarding transactions you might send to the network. I'd recommend running your own stock node and only rely on public nodes as fallback or in addition to your own.

11 hours ago, ecaquot said:

Then how does a gateway sends transactions to the network? 

Like anyone else: Create and sign a transaction, submit it to a rippled server and wait a few seconds if it made it into a ledger.

11 hours ago, ecaquot said:

And finally how are wallets managed by gateways. Does each client have a wallet that was created by the gateway (by sending the minimum 20XRP)? Or does the gateway have global wallets and "fakes" user wallet that does not really exists in the network?

Gateways operate on trust lines, so each client would have to have full control over their own "wallet" (or rather: account). Some gateways had giveaways where they gifted potential customers some XRP.

11 hours ago, ecaquot said:

Does the gateway manage the keys?

No, never. If you see someone trying to manage keys for you in any cryptocurrency setting, that's a huge red flag.

11 hours ago, ecaquot said:

Is it possible to relate a wallet that was created by a gateway to that gateway?

Gateways don't create wallets, but in general all transactions are public, so you see all transaction that a gateway or their customers did.

[Guest]

Thank you for your answer!

3 hours ago, Sukrim said:

Gateways operate on trust lines, so each client would have to have full control over their own "wallet" (or rather: account). Some gateways had giveaways where they gifted potential customers some XRP.

1

How does one first creates his account since we need to send 20XRP to an address that hasn't been "claimed" already? 

Suppose I want to buy 100$ of XRP. I would sign up to a Gateway and pay them 100$. Then what would happen in term of transactions and trust lines?

How could the gateway create a trust line (worth 100$ ?) between my account and his if I don't have an account yet?

[Sukrim]

1 hour ago, ecaquot said:

How does one first creates his account since we need to send 20XRP to an address that hasn't been "claimed" already? 

One first needs to create a trust line toward the gateway anyways - so just "invest" ~10 USD and get the ~30 XRP you'll ever need.

1 hour ago, ecaquot said:

Suppose I want to buy 100$ of XRP. I would sign up to a Gateway and pay them 100$. Then what would happen in term of transactions and trust lines?

If you want to buy 100$ of XRP, you'd not need a gateway, you'd need a brokerage or an exchange. A gateway would give you 100 USD for your 100 USD, not XRP.

You'd send them the money, ensure you still have 100+USD available in the trust line towards them and they'd credit you with 100 USD on the ledger.

1 hour ago, ecaquot said:

How could the gateway create a trust line (worth 100$ ?) between my account and his if I don't have an account yet?

A gateway has incoming trust lines, not outgoing ones. If you don't have an account, you should buy some XRP instead. Some gateways might offer to convert a few of the USD of your first deposit to XRP, so you can fund your account. You'll still need to create a trust line for now, unfortunately advanced features like checks are still not enabled on the official ledger.

There are concepts around how a system could work that would instead have a gateway trust all its customers instead the other way round, but that's for another time.