Pros and Cons between Ripple and Centralized payment verification

[tdumdiu]

I want to know the advantages and disadvantages between Ripple payment verification system and centralized authority's payment verification system. Highly appreciate if someone can answer my question.

[johnmatrix]

Ripple is centralized too.. and premined what is worse

[tdumdiu]

But ripple uses a distributed verification system. What is the advantage of using a distributed verification system instead of using a centralized verification system?

[NWO]

Ripple is centralized too.. and premined what is worse

How is it premined when there is no mining involved?


That logic! 

[Sukrim]

But ripple uses a distributed verification system. What is the advantage of using a distributed verification system instead of using a centralized verification system?

No central point of failure.

An advantage of a centralized system would be that there are no syncing issues, so trades/transactions can happen nearly immediately with no need to wait for other opinions.