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XRP Finality


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Hello XRPChat,

I wanted to confirm that once a transaction is included in the next ledger version (block) it is deemed final.  Hence, XRP has a finality of 3-5 seconds, which is the time it takes to create a new ledger version.

Thanks

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6 minutes ago, Picard78 said:

Hello XRPChat,

I wanted to confirm that once a transaction is included in the next ledger version (block) it is deemed final.  Hence, XRP has a finality of 3-5 seconds, which is the time it takes to create a new ledger version.

Thanks

Yes.

But remember that a transacion sent at ledger N is not always included in ledger N+1. There are multiple reasons for which a transaction can take multiple ledgers (blocks) to be considered final and included in a validated ledger.

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Thanks for your answer tulo.  If I am doing a simple valid XRP transfer why would it not be included in N+1?  Is there a limit on how many transactions can be placed into a ledger version / block? 

 

Edited by Picard78
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6 hours ago, Picard78 said:

Thanks for your answer tulo.  If I am doing a simple valid XRP transfer why would it not be included in N+1?  Is there a limit on how many transactions can be placed into a ledger version / block? 

 

Some easy motivations:

  • You submitted the transaction at "the end" of the 3-5 seconds of the Nth ledger and the transaction didn't have the time to spread to all validators and reach consensus.
  • The fee wasn't enough because the network was loaded and the transaction is queued

 

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2 hours ago, Picard78 said:

Interesting.  I didn't think the Validators take the fee into account since it's burned and they don't receive it.  I thought the fee was fixed for XRP transactions.

Thanks tulo

The fee isn't fixed. It's normally around .000012 XRP, but it will go up if the network is congested.

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Thanks for your response brianwalden.  There are networks coming out now such as Harmony One and Fantom that advertise 2 second blocks with immediate finality.  I have tested Fantom and today for example it took 17 seconds to confirm my transaction so I don't see it as a threat to XRP currently.  Does the XRP community see these upcoming blockchains as competition in the settlement space?   

PS. Solana has very good consistent performance.  All my transactions have been confirmed under 2 seconds or less but my understanding is that Solana has 12 second Finality which is too long.

Edited by Picard78
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4 hours ago, Picard78 said:

Thanks for your response brianwalden.  There are networks coming out now such as Harmony One and Fantom that advertise 2 second blocks with immediate finality.  I have tested Fantom and today for example it took 17 seconds to confirm my transaction so I don't see it as a threat to XRP currently.  Does the XRP community see these upcoming blockchains as competition in the settlement space?   

PS. Solana has very good consistent performance.  All my transactions have been confirmed under 2 seconds or less but my understanding is that Solana has 12 second Finality which is too long.

Yes, they have better specs. We're going to live in a multi-chain world. I think that on paper Ripple choose the right strategy in keeping the ledger dedicated to payments and keeping them business logic and messaging on a separate layer. But by going after the deep liquidity of banks it basically choose a long-term, all or nothing strategy. The XRPL has missed out on a lot of growth over the past 5 years and will continue to do so because it doesn't have any bottom-up, retail-facing development.

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I've noticed a lot of these blockchains have nice specs on paper but in actuality they are not as advertised.  Today it took 5 minutes for my Fantom transaction to complete.  Yesterday Solana was down for 14 hours and a Solana developer told me the blocks are not 0.4 seconds but around 0.5 - 0.6 seconds.  I still think the user experience is best on Solana but yesterday was a significant reminder that all these new L1 are untested under stress conditions and we can't believe specs on paper.

I am hoping that the Flare network, when finally released, will deliver something competitive and we will finally be able to do some legitimate Defi with our XRP.

Edited by Picard78
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