Jump to content

Recommended Posts

Posted (edited)

I thought this was a gem of an explanation.  I have not heard of Distributed Agreement System before, is it Pow, PoS and DAS?
 

Quote

 

"Cryptocurrencies that are susceptible to 51% attacks are based on proof-of-work (PoW) and proof-of-stake (PoS) systems, because essentially anyone can accumulate 51% of power over the system through enough mining resources or staking power (just by spending money).  Once an individual or entity has that majority control, they can rewrite history on the network, creating a scenario where you might rely on a transaction and then discover that the transaction was "unconfirmed" and a conflicting transaction accepted instead.  PoW and PoS systems have no clear recovery path from hostile majority attacks.

The XRP Ledger, on the other hand, is not vulnerable to these attacks as it uses a Distributed Agreement System, in which validation power is acquired through more democratic means – in order to reach such a high concentration of power, you would have to convince the other stakeholders in the network that you should hold that power.

Fundamentally, there is no such thing as an “un-confirmation” in a distributed agreement system.  This reduces the harm that can be created by malfeasance and reduces the incentive to misbehave.  We worry about mining collusion primarily because colluding miners can double spend and we can’t easily make choices to decentralize mining power."

 

People get rather worked up at the terms Speculative and Utility and speak of them as if they belong to two different mindsets.  In reality all valuations are a mixture.  Galgitron describes Speculative as being a dancing money and the Utility as being a platform that rises under the monkey.  As Kitao says Crypto has almost "no fundamental value", in other words the monkey is jumping up and down on a platform still at ground level.

Perhaps we could add one more element to Galgitron's monkey, and imagine the platform (Utility) as being mounted on top of a spring.  The more spring there is under the platform the higher the monkey (Speculative value) jumps when it dances.  XRP's platform has not risen from ground level (no Utility), but all the development of the ecosystem and testing of XRapid, has provided more spring under the platform on which the money dances.  XRP already has the potential to jump much higher than it did at the end of 2017.

Speculative investment is an absolutely necessary part of building a business.  It is high risk, high return investment.  Good speculative investors do their own research and reduce the risk, making the investment low risk high return, which is why we are reading your weekly progress reports.

Edited by Julian_Williams

Share this post


Link to post
Share on other sites
Posted (edited)
3 hours ago, Julian_Williams said:

I have not heard of Distributed Agreement System before, is it Pow, PoS and DAS?

I've heard a variety of labels, including this one.  The formal documentation calls it simply "Consensus":   

https://developers.ripple.com/consensus.html

 

 

 

 

Edited by Hodor

Share this post


Link to post
Share on other sites
Posted (edited)
5 hours ago, Hodor said:

I've heard a variety of labels, including this one.  The formal documentation calls it simply "Consensus":   

https://developers.ripple.com/consensus.html

 

 

 

 

Consensus is a little confusing.  PoW uses consensus between over 50%, DAS seems a better description to me.

Edited by Julian_Williams

Share this post


Link to post
Share on other sites

Recently went to a psychic who said my (XRP) portfolio would “greatly” increase in value within this decade but also fade out toward the end. So what’s up with a ten year cycle? I don’t get it. 

Share this post


Link to post
Share on other sites

Great read sir , enjoyed it with a apple cider , cheers @Hodor :drinks:

"XRP boasted unbelievable global coverage even at the beginning of the quarter, and now the network's liquidity and reach have only grown, by percentages that would be amazing even if measured over the course of a year;  but this is one quarter's worth of progress!"  Love this. 

Incredible isn't it , the growth is awesome. When you view the quarterly reports ( kudos to @LeonidasH )and see the endless news of adoption and positive news its amazing. I think we might be susceptible to a few more pump and dumps IMHO on this roller coaster ride of at least another 3 to 5 years to real utility. 

As for growth ,watching the video @xrpmommy posted today ,at 1:16:00 Navin Gupta said they're live in 40 corridors and on 6 continents ,everywhere except Antarctica I guess . Sorry no use to the penguins yet :D but a possibility for scientists and military based there to utilize it , that would make it Global lol. Anyway more on growth, Brad just said on "The Future of Payments Ft. Dan Schulman and Brad Garlinghouse " a video posted by @hallwaymonitor yesterday , that they're signing three production companies a week.  

It's endless , just a continuous bombardment at the dam. It can't hold back the inevitable for ever.  Whoa I'm getting excited must be the cider :biggrin: many thanks once again, please enjoy your day/evening/night :JC_doubleup: 

Share this post


Link to post
Share on other sites
9 hours ago, Truckdriver said:

As for growth ,watching the video @xrpmommy posted today ,at 1:16:00 Navin Gupta said they're live in 40 corridors and on 6 continents ,everywhere except Antarctica I guess . Sorry no use to the penguins yet :D but a possibility for scientists and military based there to utilize it , that would make it Global lol. Anyway more on growth, Brad just said on "The Future of Payments Ft. Dan Schulman and Brad Garlinghouse " a video posted by @hallwaymonitor yesterday , that they're signing three production companies a week.

Excellent update! 

Thanks for that; this entire paragraph just went into my notes - looks like I have some analysis incoming.  :yess:

 

9 hours ago, Truckdriver said:

Whoa I'm getting excited must be the cider :biggrin:

I'm only on my first cup of java. 

I usually start to get excited on the second cup... :JC_coffee2:

Share this post


Link to post
Share on other sites

Well doesn’t appear BTC is going away anytime soon apparently. :(  Not complaining about the recent spike but would be nice if XRP was the dog wagging the tail. 

Dont see the huge attraction with BTC aside from the fact that they were the OG. It has no real utility, it’s expensive, and it’s not eco friendly. WTH? 

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

×
×
  • Create New...