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hamasugu

Useful Ripple Weekly report from Japan.By checking the weekly reports, you can see that Ripple is making steady progress.

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Interesting report, thanks @hamasugu

Can't find any quote however by David confirming that ODL spending on the EUR / USD pair increased by $ 1.5 million a day, as the report says. David vaguely hinted at it on Twitter. 

Where did David say this?

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Posted (edited)
1 hour ago, panmores said:

Interesting report, thanks @hamasugu

Can't find any quote however by David confirming that ODL spending on the EUR / USD pair increased by $ 1.5 million a day, as the report says. David vaguely hinted at it on Twitter. 

Where did David say this?

This source is this article.

https://www.crypto-news-flash.com/ripple-xrp-volume-between-the-us-and-europe-explodes/

And David said it on this Twitter URL.

 

They are talking here.

Edited by hamasugu

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Posted (edited)

I don't know if David hinted at it.But I seem to increase EUR / USD pair volume.

https://utility-scan.com/#/dashboard

I think this is probably caused by autobridge bridging two order books with XRP.

For example, I think Bitstamp's XRP/USD and XRP/EUR order books are automatically synthesized.

https://xrpl.org/autobridging.html

https://xrpl.org/blog/2014/introducing-offer-autobridging.html

 

 

 

Edited by hamasugu

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3 hours ago, hamasugu said:

I don't know if David hinted at it.But I seem to increase EUR / USD pair volume.

https://utility-scan.com/#/dashboard

I think this is probably caused by autobridge bridging two order books with XRP.

For example, I think Bitstamp's XRP/USD and XRP/EUR order books are automatically synthesized.

https://xrpl.org/autobridging.html

https://xrpl.org/blog/2014/introducing-offer-autobridging.html

 

 

 

WooW interesting, thanks for sharing :) 

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Posted (edited)
2 hours ago, KarmaCoverage said:

1574229212_Bridgecurrencysmallwhite.PNG.7a2110ccb321e0349e0986ea0b11d41c.PNG

autobridging-graphic.png.b5137db72cfd5cb

Without a doubt is ODL inspired by the DEX, autobridging and XRPLedger, the similarities are clearly there. But look at the dates, autobridging existed already in 2014 (Yes, brilliant even then) and works only on the DEX - not on Bitstamp or Bitso. To my knowledge there is nothing on https://xrpl.org that directly describes ODL.

edit: except for sending XRP from account A to account B

Edited by jn_r

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Posted (edited)

Certainly there is no direct explanation for ODL. However, the Ripple CTO says that XRP is used for all ODL (xRapid) exchanges.

But how does ODL (formerly xRapid) bridge XRP if it doesn't have autobridge feature?

I think fiat money transfer are synthetic of order books.Or I think it's combination of XRP / EUR, XRP / USD, XRP / JPY, etc.(Combined buying and selling)

 

 

Edited by hamasugu

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12 minutes ago, hamasugu said:

Certainly there is no direct explanation for ODL. However, the Ripple CTO says that XRP is used for all ODL (xRapid) exchanges.

But how does ODL (formerly xRapid) bridge XRP if it doesn't have autobridge feature?

I think all fiat money transfer are synthetic of order books.

 

 

Autobridging is a beautiful thing. It allows for combining two orders in to one atomic order. Because it is atomic (only possible on one ledger) it takes away an important risk for arbitrage, namely either both orders succeed or both don't. So you never end up with an asset that you don't want (XRP in this case).

ODL can't do the order in an atomic way. ODL is dependent on normally two exchange ledgers, the XRP Ledger and two market makers.  That is not atomic. But, it is guaranteed to work for a predetermined price because 2 market makers guarantee a certain price. This only works with market makers.

ODL could be atomic if both on-ramp and off-ramp are on one exchange, so, in this case EUR/USD could be like that. But I think market makers are still part of the flow and therefor the trade is not atomic. Just the on-ramp and off-ramp on one exchange and no need to transact the XRP because it is already on the target exchange. 

 

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6 minutes ago, hamasugu said:

I don't know the detailed mechanism of ODL, but this may be explained by the CTO of Ripple about the mechanism of xRapid or ILP?.

https://gtgox.com/joelkatz-bank-never-adopt-xrp-2016-06-16/

Well, this is something different and requires some knowledge about ILP. (ILP is also not used in ODL afaik..) With an ILP transaction between 2 parties you need a connector that facilitates the ILP transaction. It seemed at the time that exchanges would be very well fit to take that roll. So in this example someone sends from the Bitcoin ledger some bitcoin, via ILP (via a hypothetical Poloniex connector) to an Ether adres at the Ethereum ledger. And in doing so, Poloniex uses its XRP orderbooks from BTC/XRP and XRP/ETH. Joel Katz uses the term 'XRP auto-bridging', but I doubt it has ever been implemented as such on an exchange. 

It could definitely be done, but then, why would any exchange use XRP as intermediary. Better use BTC, just as fast (your're not on the bitcoin ledger, remember?) and much more liquid on the orderbooks. 

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1 hour ago, jn_r said:

Look at the dates, autobridging existed already in 2014 (Yes, brilliant even then) and works only on the DEX

I saw this "lowest common denominator" strategy immediately when autobridging was first announced. It was as brilliant as ILP.

ODL must preform a routing function to move the value from end point to end point.

I think RippleNet can accomplish routing the value through multiple xCurrent/Rippled ledgers automatically. With many options for routing orders on each bank's ledger, the value can consume multiple orders per ledger also, (like packet switching).

40 minutes ago, hamasugu said:

Certainly there is no direct explanation for ODL.

In my How xPool write up I explained how the routing function could be accomplished using what I called "Distributed Pathfinding".

This would employ each bank's own xCurrent ledger's Pathfinding functionality to search through the abaliable N/V relationships, and if xRapid/ODL is enabled, XRPL becomes effectively another N/V relationship that would be an available option to source liquidity. 

 

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Posted (edited)
35 minutes ago, KarmaCoverage said:

ODL must preform a routing function to move the value from end point to end point.

I forgot about that. Up till now we have only seen xVia (moneygram) + xRapid. The xCurrent implementations however (banks and such) transact with a form of ILP. So if an xCurrent implementation routes a transaction via an ODL enabled exchange, that would imply that the on-ramp is possible via ILP and the off-ramp also..Maybe @hamasugu is correct with the Joel Katz explanation. 

like this (ODL only on bitstamp exchange):

EUR bankA -> ILP(via Bitstamp) -> USD bankB

or (ODL via bitstamp/bitso exchanges)

EUR bankA -> ILP(via Bitstamp/Bitso) -> MXN bankC 

Edited by jn_r

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4 minutes ago, jn_r said:

Maybe @hamasugu is correct with the Joel Katz explan

Yeah, what @JoelKatz is saying is that each ledger operator (Polenex exchange in his example) can internally "autobridge" aka "match transactions across 3 currencies".

This makes sense. Any Exchange can operate as a "market maker", and Ripple can loan them XRP using Payment Channels as I articulated in What could xPool be? 

It is important for XRP transactions to be able to occure off ledger. It solves the 3 second TX time delay, and offers infinite TX scalability with XRP as the common denominator. 

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