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Title: Ripple, the XRP bit of it...a question Post by: jubalix on April 02, 2014, 11:00:52 AM ignoring the iou and premine part of ripple
just the XRP bit of it, is that a perfectly good crypto? I.e you can send XRP to any one as you can BTC, its not centralised, doesnt require mining is this right... what is the algo they use to do this, how does the consensus work....it seems fast. who decides who gets on the UNL.... seems that a whole load of servers couls sit there and ban out the other servers saying the yare not on the UNL and rewrite what the wish, so a 51% by server....or something similar sorry this may be in alts although I am asking in relation to BTC algo... Title: Re: Ripple, the XRP bit of it...a question Post by: blacksails on April 02, 2014, 11:22:10 AM ignoring the iou and premine part of ripple As far as I know their servers are still centralized?just the XRP bit of it, is that a perfectly good crypto? I.e you can send XRP to any one as you can BTC, its not centralised, doesnt require mining is this right... what is the algo they use to do this, how does the consensus work....it seems fast. who decides who gets on the UNL.... seems that a whole load of servers couls sit there and ban out the other servers saying the yare not on the UNL and rewrite what the wish, so a 51% by server....or something similar Title: Re: Ripple, the XRP bit of it...a question Post by: 🏰 TradeFortress 🏰 on April 02, 2014, 11:23:32 AM what is the algo they use to do this, how does the consensus work....it seems fast. centralization.Title: Re: Ripple, the XRP bit of it...a question Post by: Sukrim on April 02, 2014, 02:37:39 PM what is the algo they use to do this, how does the consensus work....it seems fast. centralization.https://ripple.com/wiki/Consensus XRP were issued to one single key/person/entity, they can be owned once you get someone to transfer them to you, but there is no proof of work or similar approach to distribute them in any way. who decides who gets on the UNL.... Each validator operator themselves.seems that a whole load of servers couls sit there and ban out the other servers saying the yare not on the UNL and rewrite what the wish, so a 51% by server....or something similar Then they just risk creating their own fork... as long as they do not make up the majority (actually >80%) of the UNLs on all other nodes, there is little chance for such an attack to succeed. It would be very easy to proof that someone tried this type of attack though, since validators need to sign ledger headers with their private key. This is a bit similar to PoS maybe, just that there is no weighting according to "Stake".Title: Re: Ripple, the XRP bit of it...a question Post by: jubalix on April 04, 2014, 03:32:21 AM what is the algo they use to do this, how does the consensus work....it seems fast. centralization.Trade Your back!!!! when did this happen.... Title: Re: Ripple, the XRP bit of it...a question Post by: Sukrim on April 04, 2014, 06:45:40 AM what is the algo they use to do this, how does the consensus work....it seems fast. centralization.Trade Your back!!!! when did this happen.... |