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Author Topic: Ripple Ledger Can Sustain 1000 Transactions per Second  (Read 1623 times)
bbc.reporter
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March 03, 2017, 12:56:20 AM
 #21

You should read the link in the first post... Roll Eyes

Yes sorry. I did read it now this is what I saw from the article.

Quote
Today, for the first time, Ripple is proud to publicly announce that in recent internal benchmark testing, across 16 geographically distributed validators, the RCL is able to sustain nearly 1000 transactions per second.

16 validators? I also want to mention that it is an internal benchmark setting. That is far away in comparison from a production setting. How do we know those 16 validators are not colluding? Also what will prevent validators from colluding in a real live setting? What is their incentive?

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March 03, 2017, 01:43:25 AM
 #22

Still centralized. Even if it has some successes, it won't translate into profit for investors. So only the ripple company and those who use their services wins, therefore i don't see an incentive to invest in it.

Not only it is centralized, but also the tokens are controlled by Ripple, they can decide when to dilute the supply and release more tokens in the market. It is not a fair project because the company owns the most of tokens and sell them in a high price which they set. Unfair and centralized, will kill this coin, Dash is better, you see the CMC rankings, everything is detailed there.

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March 03, 2017, 11:44:07 AM
 #23

16 validators?
We don't have data that scales to thousands of validators yet, but there's really no reason you would need so many. Adding more validators doesn't significantly affect the transaction rate. But it does logarithmically increase the latency (the time between when you submit a transaction and when you know for sure that it's going to be part of the ledger).

Quote
I also want to mention that it is an internal benchmark setting. That is far away in comparison from a production setting.
The differences are not that significant. It really only depends significantly on two factors: how many digital signatures can all the CPU cores together verify and how fast can a single core process the inherently serial process of applying the transactions one at a time. Network latency affects transaction latency but not transaction throughput.

Quote
How do we know those 16 validators are not colluding?
The way you know something came from a validator is that it was signed by that validator's public key. So if the validators collude, you'll have the signed proof.

Quote
Also what will prevent validators from colluding in a real live setting? What is their incentive?
If they collude, there will be positive proof that they did so. Assuming the other participants are rational, they'll just stop listening to those validators.

If there's literally nobody who has any incentive to keep the network reliable, then it doesn't matter if the network is reliable or not. If there are people who have such an incentive, they'll figure out who else has that incentive and those will be the validators they'll use.

Remember, there's no way for a validator to say "I created these funds out of nowhere" or even "unvalidate this transaction the network previously validated". Fundamentally, validators just put transactions in an agreed order so that double spends can be identified. (If two transactions fully conflict, the one the validators place first wins.)

Validators could collude to do two key things:

1. They could reject transactions they don't like for some reason. Maybe a court orders them to. Maybe they just don't like someone. Maybe they want to demand specifoc people pay them high fees.

2. Enough validators refusing to agree can stall the network.

Both of these are essentially denial of service attacks, so colluding validators can DoS the network. But if everyone else doesn't like that, they can change validators. The trick is to find people who want a reliable network and make them the validators -- if nobody wants a reliable network, then it doesn't matter if you don't have one.

Also, validators vote to decide the future of the network through Ripple's amendment process. So people who want control over the network's destiny -- anyone who cares about the network's evolution -- will want to remain a validator. Violating trust will cause them to lose that control.

The cost of running a validator is negligible. Non-validator nodes do all the same work as validators, they just don't produce or send signed statements of what they saw, proposed, and agreed to.

I am an employee of Ripple. Follow me on Twitter @JoelKatz
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March 03, 2017, 02:43:17 PM
 #24

WBB can hit 10k per second lol what's your point?


this right here, correct.  when rebranded wbb drops it's tech/news the crypto world will shit its collective pants!

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March 04, 2017, 12:29:02 AM
 #25

@JoelKatz. Thank you for the indepth response. I have learned a lot and I admit that I am stirred to a slight interest in the technology. Does it mean I will invest in XRP? No. In knowing that Ripple holds the majority of the coins is disheartening.

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March 04, 2017, 07:26:41 AM
 #26

Ledger Can Sustain 1000 Transactions per Second

Since it's centralized, that's not even a huge number.
There are plenty of altcoins that can sustain good numbers, you could have at least found one that's not centralized... Centralized coins are no better than VISA.



True and i see no point in Buying Ledger Coin(s)
Ledger ? Cheesy

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March 04, 2017, 07:31:27 AM
 #27

Ripple is very undervalued due to a vast majority of people not understanding how it will be implemented with banks.
What methodology are you using to ascribe value to it?
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March 04, 2017, 01:41:33 PM
 #28

How does this even matter as most of us use coins for investment purpose only and with all the other features it is basically a useless investment for us as in terms of price it is the same for a long time.

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Spoetnik
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March 04, 2017, 05:26:49 PM
 #29

How does this even matter as most of us use coins for investment purpose only and with all the other features it is basically a useless investment for us as in terms of price it is the same for a long time.

Reminds me of guys spamming the hell out of Poloniex's Troll box way back.
They were screaming IBM is using Ethereum OMFG !111ONE
I asked so what ? Are the coins connected to Polo's coins ?
They said NO of course..
I said so really what the fuck difference does that make ?
Then i heard crickets chirping and a wave of personal attacks where the staff joined in and then banned me.

Admit it guys.. crypto is for stupid people.

The crowd is stupid and they are in control there for the stupid run the scene.

PS:
Search Polonibox for Ethereum + IBM (and Ethereum + Microsoft or Big Banks)

FUD first & ask questions later™
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March 04, 2017, 06:02:50 PM
 #30

Still centralized. Even if it has some successes, it won't translate into profit for investors. So only the ripple company and those who use their services wins, therefore i don't see an incentive to invest in it.

Not only it is centralized, but also the tokens are controlled by Ripple, they can decide when to dilute the supply and release more tokens in the market. It is not a fair project because the company owns the most of tokens and sell them in a high price which they set. Unfair and centralized, will kill this coin, Dash is better, you see the CMC rankings, everything is detailed there.
Ohh, that's why it cannot develop so well as people could get this service by another centralized platform which is better than ripple.
There are a lot of coins with it own features, if there's nothing specific or special that attract more adopters, then it's not worth.



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March 04, 2017, 06:07:22 PM
 #31

We don't have data that scales to thousands of validators yet, but there's really no reason you would need so many. Adding more validators doesn't significantly affect the transaction rate. But it does
Why are you guys constantly posting all this xrp-crap here? The only thing which matters is price. But price of xrp didn't reach even $1 after 4 years of "success" and joyful shouts of ripple fanboys on twitter. XRP proved itself to be useless as investment.
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March 04, 2017, 07:20:32 PM
 #32

Ripple = centralized trash. It's easy to have all the transactions in the world per second if you are using a centralized system. Give us a centralized system with VISA level of onchain transactions per second that is as decentralized and robust as bitcoin's PoW and then I will be buying. Until then please stop losing my time.

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March 04, 2017, 09:27:25 PM
 #33

Ripple = centralized trash. It's easy to have all the transactions in the world per second if you are using a centralized system. Give us a centralized system with VISA level of onchain transactions per second that is as decentralized and robust as bitcoin's PoW and then I will be buying. Until then please stop losing my time.

Yep, right.

And btw. 1000 isn´t really amazing. Have a look at e.g NEM

01100010 01101001 01110100 01100011 01101111 01101001 01101110 00100000 01101001 01110011 00100000 01100001 00100000 01100010 01101001 01110100
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March 05, 2017, 12:55:44 AM
 #34

Ledger Can Sustain 1000 Transactions per Second

Since it's centralized, that's not even a huge number.
There are plenty of altcoins that can sustain good numbers, you could have at least found one that's not centralized... Centralized coins are no better than VISA.



True and i see no point in Buying Ledger Coin(s)
Ledger ? Cheesy

I am not one that would laugh and make fun of other people but yes. They did not need to have a ponzicoin made in the network. I speculate that Ripple will slowly back away from XRP since they are developing the Inter Ledger.

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March 05, 2017, 08:18:06 PM
 #35

Ledger Can Sustain 1000 Transactions per Second

https://ripple.com/xrp-portal/xrp-resources/ripple-consensus-ledger-can-sustain-1000-transactions-per-second/

Before you reply, we all know your hatred of ripple and why you think it's just a waste of time and energy.

Cheers!

In my idea about in Ripple it is a non minable coin, and like what others said here too its a kind of centralized system is being applied in it. and I don't have any hatred on ripple, in fact as I look at it, it is quite good to invest ripple anyway.

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