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Xi195

One Wallet to Rule Them All

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This has been THE major barrier to entry since day 1.  I think this is a great idea, but what would make this wallet more secure/trustworthy/reliable than every other wallet ever created by a group with the same mission statement?

I always preferred RippleTrade and the original Ripple Wallet simply because of the following logic:  Ripple Labs created XRP -> Ripple Labs created RippleTrade -> Risk = Ripple folds = XRP is gone regardless.  Safety level = acceptable.

Anything that is open-source (scary enough in itself due to possible attack) and created by the community, would run the same risk without the direct affiliation with the currency.  

I think this is the most important question to a user.  Question number 1 - is it secure/trustworthy/reliable?  Question number 1a &b  How and why?

 

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6 minutes ago, Dennis said:

I always preferred RippleTrade and the original Ripple Wallet simply because of the following logic:  Ripple Labs created XRP -> Ripple Labs created RippleTrade -> Risk = Ripple folds = XRP is gone regardless.  Safety level = acceptable.

Thanks for chiming in @Dennis. Maybe the BitGo wallet will fill this need? Any thoughts? I have revised deliverable #1 above accordingly.

6 minutes ago, Dennis said:

Anything that is open-source (scary enough in itself due to possible attack) and created by the community, would run the same risk without the direct affiliation with the currency.  

I would feel plenty safe if a handful of the individuals I tagged above signed off on it. While open source !== secure, a well established open-source product is preferable to a private and closed alternative in my opinion (and I believe many others).

Edited by Xi195

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12 minutes ago, Xi195 said:

I would feel plenty safe if a handful of the individuals I tagged above signed off on it. While open source !== secure, a well established open-source product is preferable to a private and closed alternative in my opinion (and I believe many others).

 
 
 

RippleTrade still needs to be hosted somewhere and this creates a dependency on the person/entity that hosts it. JavaScript code cannot be digitally signed (at least not in general) and therefore you cannot be sure that the code that the browser is running is the same as code that was audited.

The only solution is compiled & digitally signed native app.

I could maybe contribute some C# code, but I'm not sure C# is the right choice. C# Ripple library is unmaintaned and the only developer left RL.

 

Edited by T8493

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24 minutes ago, T8493 said:

JavaScript code cannot be digitally signed (at least not in general) and therefore you cannot be sure that the code that the browser is running is the same as code that was audited.

This makes sense, but is this true for a desktop client? I guess since JavaScript always runs in the browser, it is?

It looks like Karlos has a desktop client for OS X, Windows, and Linux here:https://github.com/karl-os/XRP-CHAT-WALLET/releases

24 minutes ago, T8493 said:

I could maybe contribute some C# code, but I'm not sure C# is the right choice. C# Ripple library is unmaintaned and the only developer left RL.

You are always very critical from a security perspective. Any contribution you can make would be an asset as you seem to have critical questions whether the project is C# or not.

Edited by Xi195

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On 18/04/2017 at 10:11 PM, Dennis said:

This has been THE major barrier to entry since day 1.

I agree but trust lines, reserve, destination tag must be made super simple for an average person, this is very important because it's so complicated.

Maybe from protcol changes (this reserve thing is crazy) but also from a very graphic and user friendly wallet.

Edited by namini

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19 minutes ago, Xi195 said:

This makes sense, but is this true for a desktop client?

 

Yes. There is no easy way to find out whether the code that is executed in a desktop client is the same as the code which was audited.

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10 minutes ago, namini said:

I agree but trust lines, reserve must be made super simple for an average person, this is very important because it's so complicated.

Maybe from protcol changes (this reserve thing is crazy) but also from a very graphic and user friendly wallet.

 

Wallet UI can solve most of the issues. UI testing could result in a UI that is very different from what are current Ripple users used to. For example, wallet could have a task oriented UI (which adds a lot of complexity).

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Considering that most wallets in this space cater to trading crypto, what if you refocused your efforts to a different use case?  Potentially using an API to simplify and target a specific task.  Similar to what LinkedIN is doing with their multitude of apps.  There is the main LinkedIN, which is basically an online database of resumes, then there is LI SalesNavigator, which reorganizes this data into a Sales solution, another app for Learning solutions, another for Talent placement, etc.  

I've always thought that the crypto currency movement is about so much more than "buy low, sell high" but somehow every wallet wants to turn me into a day trader...

 

Edited by Dennis

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1 minute ago, Dennis said:

Considering that most wallets in this space cater to trading crypto, what if you refocused your efforts to a different use case? 

 

Sure. The wallet could be just a wallet without any trading functionality.

Any trading functionality could be hidden in a function that buys/sells XRPs or converts one currency to another.

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14 hours ago, T8493 said:

Sure. The wallet could be just a wallet without any trading functionality.

I'd be fine with this.  Just a cold storage wallet on my own computer that could store my XRP.  New users could download and send XRP back and forth just like so many other alt coin wallets!  This would support ease of adoption by new users that are switching from their other alt coins over to XRP!    

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Yeah exactly.  I would think step one would be to gather data.  Necessity is the mother of invention.  Find out what people need, both in the community and those who've never heard of bitcoin (survey monkey?).  Analyze your data and find the opportunity for greatest impact.

I for one would love a simple secure cold wallet.  Some of the biggest concerns I can think of for "transferring value" among my friends and family are: Interest rates (fees), Identity theft, out of state check clearing time, card real estate in a physical wallet (sounds stupid but just think of all the fancy trifold wallets on the market), small peer to peer transactions (think venmo), easy bill payment (and account balancing).

I have to run to a meeting.  Hope it helps!

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1 hour ago, Hodor said:

I'd be fine with this.  Just a cold storage wallet on my own computer that could store my XRP.  New users could download and send XRP back and forth just like so many other alt coin wallets!  This would support ease of adoption by new users that are switching from their other alt coins over to XRP!    

I would like this but maybe add one small aside, allow the wallet to be upgraded with additional opt-in features.

Instead of offering a wallet that has all the bells and whistles that not everyone needs, users could start with the basic feature and enable additional features as needed. Features could be offered over time (to allow for a smooth and TIMELY roll out). I wouldn't even be opposed to advanced features being offered at a cost as long as a portion is funnelled back into development- with profits to be had third parties might have the incentive to keep the wallet going.

At some point someone is going to complain that they don't have trailing stops, or bots, or something else. At least this way the basic wallet can act as a foundation for other services to be built on top without complications (or delays).

 

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Hello guys, I like this thread.

Though I have to say that there are opensource wallets out there that never received a single pull request from the community.

This sends one of the following messages (or both):

  1. The community does not have enough technical resources available for contributing
  2. There is no consensus over which wallet to focus efforts on

If "1", then we are not able to have a wallet project.

If "2" this thread is helpful since it can generate consensus enough to mobilize a critical mass of resources that can put a wallet up.

I hope we are in "2".

Links for some opensource wallets:

https://github.com/ripplerm/ripple-wallet

https://github.com/rippex/ripple-client-desktop

https://github.com/jatchili/minimalist-ripple-client

https://github.com/Autodidactic-I/TheWorldExchange

https://github.com/yxxyun/ripple-client-desktop

https://github.com/yxxyun/ripple-wallet

Edited by RafOlP

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4 hours ago, Hodor said:

Just a cold storage wallet on my own computer that could store my XRP.

I think all of this could be worked out if there were sufficient interest in the topic which does not seem to be the case so far. I do think integrating the unique features of Ripple such as multisig and escrow would be important. 

I'm not sure who segrax is (are you here somewhere?), but he his wallet includes functionality for both and seems to be well maintained: https://github.com/segrax/xrp-wallet

1 hour ago, RafOlP said:

The community does not have enough technical resources available for contributing

Considering the number of open source wallets I would assume the technical resources are available, but they have not been focused. That was really the purpose of this topic. To see if we could generate interest in focusing these efforts. If there's interest, we can move on to finding consensus on #2.

1 hour ago, RafOlP said:

Links for some opensource wallets:

Adding https://github.com/karl-os/XRP-CHAT-WALLET/releases

Edited by Xi195

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