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What motivates XRP processing nodes?


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Welcome and hello @CapitalPescanova, feel free to visit the Links and Resources for guides and tutorials and Our Picks to get started. 

In regards to your question there is no direct incentive for operators, besides contributing to the network and accessing raw data queries. Most interested parties would be ripple related services providers such as Gateways. Validators also get to vote on the network amendments, affecting the networks direction and operation

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4 hours ago, CapitalPescanova said:

Total n00b,

For other currencies, the miners' CPU time gets paid by fees.

What motivates a XRP node owner to offer his CPU time to process transactions?

Same as what motivates operators of DNS, SMTP, NTP servers. Either these operators need the service themselves, or they provide it as a service (package) to their paying customers.

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4 hours ago, CapitalPescanova said:

For other currencies, the miners' CPU time gets paid by fees.

What motivates a XRP node owner to offer his CPU time to process transactions?

Hello. We run a validating node (validator) for a variety of reasons. First, running a validator is essentially the same as running a non-validating node on the network, but (I would argue) with an increased need for ensuring security. Turning a non-validating node into a validator is as simple as generating a public/private keypair and adding the keys to the configuration file. Running a validator provides support for the network, so anyone who is running a node that is already on a reasonably secure server could choose to flip their node into a validator, to further support the integrity of the network.

Running either a validating or non-validating node allows one to interact directly with the network. We use ours for a variety of activities, like sending transactions, checking account balances, searching for ripple transaction data/statistics, exploring the topography of the network, and various other, similar things. We invested in XRP several years ago, and Ripple has done us a solid by continuing their amazing work, so we are down to give back to the network. In short, anyone who wants to interact with the network directly needs to run either a non-validating or validating node.

Second, running a validator lets us choose which other validators we trust not to collude or behave maliciously. It also lets us choose which amendments to the network we support. It is nice to have a say regarding the network & fee structure.

Several of the validators are run by businesses who directly profit from Ripple, like gateways and exchanges. Ripple has indicated that Microsoft, MIT, and CGI are all running validators. Running validators (or nodes) allows these businesses to meet the needs of their existing customers or to develop solutions to be deployed in the future, while supporting the networks diversity. Other validators are run by people who are building their own software, like trading bots.

 

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9 hours ago, Rabbit_Kick_Club said:

Second, running a validator lets us choose which other validators we trust not to collude or behave maliciously. It also lets us choose which amendments to the network we support. It is nice to have a say regarding the network & fee structure.

Well, maybe in the future, but not now :(

Only the 5 Ripple's validators now have the whole control of the network.

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6 hours ago, tulo said:

Well, maybe in the future, but not now :(

Only the 5 Ripple's validators now have the whole control of the network.

True... However, right now we personally do trust Ripple and their five validators, as well as one additional validator :)

Granted, trusting the additional validator makes essentially no difference to the network right this second, but as Ripple decentralizes validators over the next 18 months, we expect that to change.

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We run a validator. I actually need it for my own wallet services so it is the aame convenient for me. I already know that the 5 Ripple V are trusted by many but I went a long way to reverse social engineer a few and to actual reach out and interact with them. So I took the time to trust 5 non Ripple Validators. But it took a lot od research in some cases to DOX them tonprove they are who they are and and likely good well meaning people.

Otherwise there is nonincentive that I can think of. In actuality the bigger guys may end up being "more" trusted just because of name which will actually play out to our doom. 

Edited by Xilobyte
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