Jump to content
TplusZero

Ripple Coindesk article!

Recommended Posts

Quote

Because of the technical issue, the average time needed to confirm bitcoin transactions has risen significantly in recent months, reaching 168 minutes on 27th March and 145 minutes on 31st March.


Garlinghouse sought to contrast this performance with Ripple's, tweeting on 31st March that his network's confirmations were taking an average of 3.7 seconds, while it costs $0.00031 per transaction compared to $0.48 using bitcoin.

 

@miguel @warpaul @Tim 

Suggestion: Whenever a member of the Ripple Team is presented with an opportunity to make comparisons with other networks, can they please state and emphasize that the Ripple Network achieves settlement finality in near real-time, whereas other networks require multiple confirmations before a transaction is deemed settled.

Share this post


Link to post
Share on other sites
5 minutes ago, Ant said:

 

@miguel @warpaul @Tim 

Suggestion: Whenever a member of the Ripple Team is presented with an opportunity to make comparisons with other networks, can they please state and emphasize that the Ripple Network achieves settlement finality in near real-time, whereas other networks require multiple confirmations before a transaction is deemed settled.

Well said!

Share this post


Link to post
Share on other sites

I can only see any sort of press like this as a positive for creating further awareness for Ripple.

Coindesk despite often being late to the party with regards to breaking news is well respected but only really in Blockchain circles. What is really needed is more coverage in places like the FT and the Economist that was experience by Ethereum and Bitcoin. These sort of mainstream news publications hold the key to promoting Ripple to a much wider audience and that in turn with create acceptance to the larger corporates.

Share this post


Link to post
Share on other sites

In the past, I have seen big news after big news headline come about with no change in the XRP price (sometimes a negative effect).  I truly believe that the recent price movement had to do with Ripple's recent push to market XRP. From hiring Miguel to major discussions about an XRP lock-up and making distribution more transparent. Not to mention the release of escrow and the idea that Ripple can now handle as many transactions as Visa. The coming months I believe we will see a rise in articles regarding decentralized assets being used more on the back-end than the front-end and I think Ripple is the best positioned in this aspect. Keep up the great work @miguel and the Ripple team!

Share this post


Link to post
Share on other sites
2 hours ago, Ant said:

Suggestion: Whenever a member of the Ripple Team is presented with an opportunity to make comparisons with other networks, can they please state and emphasize that the Ripple Network achieves settlement finality in near real-time, whereas other networks require multiple confirmations before a transaction is deemed settled.

Well said, indeed! I always appreciate when people recognize RCL's key differentiators.

Share this post


Link to post
Share on other sites
3 hours ago, Ant said:

Suggestion: Whenever a member of the Ripple Team is presented with an opportunity to make comparisons with other networks, can they please state and emphasize that the Ripple Network achieves settlement finality in near real-time, whereas other networks require multiple confirmations before a transaction is deemed settled.

I'm not sure if the mechanics of a 51% are widely known. I've understood it to be one miner who suddenly has 51% of the network hash rate, who mines several blocks ahead without broadcasting the block resolution, spending on the main chain, then invalidating that transaction by broadcasting a longer chain for which they mined.

So when Poloniex requires six blocks, the probability of this event goes to zero.

Did I get that right? In any case, it's subtle, and certainly not a risk with Ripple's consensus algorithm. When one block is validated in about 3.5 seconds (https://charts.ripple.com/#/metrics), it is final, permanent, and cannot be changed. 

Edited by Tim
Added reasons for six block settlement

Share this post


Link to post
Share on other sites
5 hours ago, Ant said:

Ripple Network

You wrote this correctly. "Ripple Network" should always be capitalized,. Coindesk did not capitalize the N. I do think that Ripple should start to talk about the overall Ripple Network and the various components of the network so that everyone sees how they fit together. They should be careful to specify which part of the Ripple Network they're referring to when they speak publicly. Any exchange that holds XRP is part of the RippleExchange network (IOU network), there is RCL which Gatehub, FlashFX, and individual wallets are a part of, there's the bank network which will connect to the RippleExchange network that ultimately can settle via RCL if need be, and there's ILP which everyone can connect to. Corporate RCL participants like Gatehub and FlashFX (EZForex also?) should be compelled to run unmasked validators, others should be encouraged to.

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

×
×
  • Create New...