NXT, OpenTransaction and Ripple

[jubalix]

What is the difference between OT and RIPPLE,

Is OT sort more like NXT with the asset exchange etc?

[1715138235]

1715138235

[Sukrim]

A very abstract comparison would be that Ripple is more like the banking system where you are mostly concerned that you can send money from any account to any other account in the world.

OT (as far as I understand it) is more like the stock market, where you own some tokens that you want to trade from time to time on some exchanges. You find others who want to do the opposite (e.g. you want to sell XYZ, somebody else wants to buy), you agree on which server to trade on  (in the "real world" this is a given, since not all stocks are traded on all stock exchanges) and then trade fast and in private there.

I didn't look too much into NXT's asset exchange, so sorry - maybe someone is more knowledgeable there.

[ShroomsKit_Disgrace]

I didn't look too much into NXT's asset exchange, so sorry - maybe someone is more knowledgeable there.

You are doing it bad Sukrim. Just look here:

http://coinmarketcap.com/assets/

NXT AE is the most used and successful asset exchange by far.

[TaunSew]

Ripple doesn't really offer anything anymore.  When SuperNet comes online NODE will be the payment processor and it's a generation ahead of Ripple (NODE is integrating BTC, USD, EUR, CNY and maybe HRV).

[devphp]

http://www.cryptocoinsnews.com/chris-odom-explains-how-open-transactions-makes-altcoins-irrelevant-at-inside-bitcoins-conference/

"Open Transactions is simply a system of federated servers rather than some kind of blockchain technology."
Probably like Ripple, except it uses Bitcoins. You can take it from there.

NXT Asset Exchange runs on the blockchain in a completely decentralized fashion.

[CryptoGuu]

Ripple doesn't really offer anything anymore.  When SuperNet comes online NODE will be the payment processor and it's a generation ahead of Ripple (NODE is integrating BTC, USD, EUR, CNY and maybe HRV).

source?  I would love it.

[patmast3r]

Ripple doesn't really offer anything anymore.  When SuperNet comes online NODE will be the payment processor and it's a generation ahead of Ripple (NODE is integrating BTC, USD, EUR, CNY and maybe HRV).

In Ripple I can send EUR and have USD come out on the other end without me doing anything other than hitting a button. That's the realy beauty of Ripple. It let's you pay in any currency and finds a path to autmatically exchange it into whatever the receiver is accepting.
Afaik NODE will "only" have multiple currencies in one wallet which you can deposit via an exchange. Could be wrong though.

[Sukrim]

I didn't look too much into NXT's asset exchange, so sorry - maybe someone is more knowledgeable there.

You are doing it bad Sukrim. Just look here:

http://coinmarketcap.com/assets/

NXT AE is the most used and successful asset exchange by far.

Uhm... http://www.ripplecharts.com
Ripple "assets" mostly are currency balances though, not share ownership of a company or project, so I'm not so sure how to compare these.

Anyways, I don't really want to argue about trading volume or how to measure "most used". I simply stated that I don't know exactly how NXT's AE works internally (colored coins implementation, baked into the NXT protocol, explicit/implicit offers, automatic margin trading bycked by NXT themselves... there are many ways how it might be implemented).

You also didn't explain how it works, only that it gets used, apparently successfully.

[Zer0Sum]

Ripple doesn't really offer anything anymore.  When SuperNet comes online NODE will be the payment processor and it's a generation ahead of Ripple (NODE is integrating BTC, USD, EUR, CNY and maybe HRV).

In Ripple I can send EUR and have USD come out on the other end without me doing anything other than hitting a button. That's the realy beauty of Ripple. It let's you pay in any currency and finds a path to autmatically exchange it into whatever the receiver is accepting.
Afaik NODE will "only" have multiple currencies in one wallet which you can deposit via an exchange. Could be wrong though.

Ya man, it's "magic" the way you pay random, high exchange fees just by "hitting a button" on Ripple...
And Ripple is a currency exchange network... NXT is Crypto Assets.

OT has never reached critical mass... it doesn't matter if a bunch of devs use it.

NXT, against all odds, is the one that's reached critical mass and exponential growth...
It's because they hit the "complexity sweet spot"... useful, but not too complex...
So there are almost 300 Assets on NXT AE and growing almost 1%/day...
Meaning there should be 4000-5000 assets traded in one year.

The killer is these Crypto Assets have broken through to Polo and BTER...
You can move them outside the NXT ecosystem... fucking brilliant...
(If you wanna buy a basket of 27 top NXT assets just buy JLH on Polo).

https://nxtblocks.info/#section/assets_exchange

Show me meaningful network stats for Ripple or GTFO.

[patmast3r]

Ripple doesn't really offer anything anymore.  When SuperNet comes online NODE will be the payment processor and it's a generation ahead of Ripple (NODE is integrating BTC, USD, EUR, CNY and maybe HRV).

In Ripple I can send EUR and have USD come out on the other end without me doing anything other than hitting a button. That's the realy beauty of Ripple. It let's you pay in any currency and finds a path to autmatically exchange it into whatever the receiver is accepting.
Afaik NODE will "only" have multiple currencies in one wallet which you can deposit via an exchange. Could be wrong though.

Ya man, it's "magic" the way you pay random, high exchange fees just by "hitting a button" on Ripple...
And Ripple is a currency exchange network... NXT is Crypto Assets.

OT has never reached critical mass... it doesn't matter if a bunch of devs use it.

NXT, against all odds, is the one that's reached critical mass and exponential growth...
It's because they hit the "complexity sweet spot"... useful, but not too complex...
So there are almost 300 Assets on NXT AE and growing almost 1%/day...
Meaning there should be 4000-5000 assets traded in one year.

The killer is these Crypto Assets have broken through to Polo and BTER...
You can move them outside the NXT ecosystem... fucking brilliant...
(If you wanna buy a basket of 27 top NXT assets just buy JLH on Polo).

https://nxtblocks.info/#section/assets_exchange

Show me meaningful network stats for Ripple or GTFO.

well since you asked so friendly and eloquently...

https://www.ripplecharts.com/#/

nuffsaid.

[Zer0Sum]

Ripple doesn't really offer anything anymore.  When SuperNet comes online NODE will be the payment processor and it's a generation ahead of Ripple (NODE is integrating BTC, USD, EUR, CNY and maybe HRV).

In Ripple I can send EUR and have USD come out on the other end without me doing anything other than hitting a button. That's the realy beauty of Ripple. It let's you pay in any currency and finds a path to autmatically exchange it into whatever the receiver is accepting.
Afaik NODE will "only" have multiple currencies in one wallet which you can deposit via an exchange. Could be wrong though.

Ya man, it's "magic" the way you pay random, high exchange fees just by "hitting a button" on Ripple...
And Ripple is a currency exchange network... NXT is Crypto Assets.

OT has never reached critical mass... it doesn't matter if a bunch of devs use it.

NXT, against all odds, is the one that's reached critical mass and exponential growth...
It's because they hit the "complexity sweet spot"... useful, but not too complex...
So there are almost 300 Assets on NXT AE and growing almost 1%/day...
Meaning there should be 4000-5000 assets traded in one year.

The killer is these Crypto Assets have broken through to Polo and BTER...
You can move them outside the NXT ecosystem... fucking brilliant...
(If you wanna buy a basket of 27 top NXT assets just buy JLH on Polo).

https://nxtblocks.info/#section/assets_exchange

Show me meaningful network stats for Ripple or GTFO.

well since you asked so friendly and eloquently...

https://www.ripplecharts.com/#/

nuffsaid.

Oh, I'm amazed Ripple Charts is up. Look out... it will crash soon.

Well, so after 3 years and 18 months live...
Ripple is doing $250,000/day in currency vs the $10,000,000,000/day Forex market...
(And then there's another $500,000 in "transaction volume").

This is with > 50 employees and probably $20,000,000 invested...
Hardly a success story for something centralized in Silicon Valley.

This is a massive money loser... except for the founders who got all that XRP...
So the XRP transferred a few million from BTC owners to the Ripple founders.

Not helping the African migrant workers much, is it.

After 2-3 months the NXT AE looks like it's doing about $100,000/day in Crypto Assets...
But that is growing fast... and doesn't count IPOs... nor NXT Assets traded on Polo and BTER.

And the civilized NXT community is what sets it apart...
You don't hear much from them because they are busy building + rolling out features on schedule.

I spent about 2 months on Ripple last year...
And, to me, NXT is everything Ripple was not... like night and day.

[ShroomsKit_Disgrace]

Zer0Sum,

I agree with you 100%,

And Sukrim,

You also didn't explain how it works, only that it gets used, apparently successfully.

If you really want to know how NXT AE works, please go to technical section of nxtforum.org and read-ask whatever you want.

[Sukrim]

And the civilized NXT community is what sets it apart...

But what about the technology NXT uses? This is after all what was asked by the OP, not some pissing contest of trading/transaction volumes or market caps of assets

And Sukrim,

You also didn't explain how it works, only that it gets used, apparently successfully.

If you really want to know how NXT AE works, please go to technical section of nxtforum.org and read-ask whatever you want.

Any good overviews of the technology/whitepapers available? Looking through 22(!) subforums where specific questions are asked and piecing together a crude idea of how everything works is not really how I want to spend this evening... Maybe there are some technical wikis somewhere?

[megashira1]

Ripple doesn't really offer anything anymore.  When SuperNet comes online NODE will be the payment processor and it's a generation ahead of Ripple (NODE is integrating BTC, USD, EUR, CNY and maybe HRV).

Yes! I love your confidence. 

[devphp]

Any good overviews of the technology/whitepapers available? Looking through 22(!) subforums where specific questions are asked and piecing together a crude idea of how everything works is not really how I want to spend this evening... Maybe there are some technical wikis somewhere?

NXT has a draft of whitepaper, not completed because it's still developing, but enough for overall understanding:
https://www.dropbox.com/s/cbuwrorf672c0yy/NxtWhitepaper_v122_rev4.pdf

Check out this site too:
http://www.nxttechnologytree.com/

Then download the client to see how it all works, I guess the whitepaper and the actual client will make the picture complete.

[atoni]

Ripple doesn't really offer anything anymore.  When SuperNet comes online NODE will be the payment processor and it's a generation ahead of Ripple (NODE is integrating BTC, USD, EUR, CNY and maybe HRV).

In Ripple I can send EUR and have USD come out on the other end without me doing anything other than hitting a button. That's the realy beauty of Ripple. It let's you pay in any currency and finds a path to autmatically exchange it into whatever the receiver is accepting.
Afaik NODE will "only" have multiple currencies in one wallet which you can deposit via an exchange. Could be wrong though.

You said it well, and not just that. You can pay with gold and merchants gets USD if he accepts it, or with loyalty points, or airline miles....anything you can imagine.

People says shit about Ripple but they dont understand one thing. If Ripple gets adopted by banks and payment processors around world, that is BY FAR the best news for any crypto fanatics. How about being able to spend NXT where only Ruble is accepted? Or to spend Wankcoin on sites that only accept loyalty points? And all that integrated into Google Pay as Google is one of Ripple's shareholders and will for sure compete with Apple. Talking about taking ALL crypto's to mainstream!

With Ripple everyone wins! And that is exact beauty of Ripple. It likes everyone. Every crypto, every country, every organization. It doesnt dislike banks as many people, it doesnt dislike poor people because they cant increase the price of your coin - on contrary, it could be the best bet for financial inclusion, it doesnt dislike Russia because governments want to isolate it, it doesnt dislike Chinese because they dont allow acces to bitcointalk......it is the only truly inclusive crypto.

Ripple actually hopes that all cryptos will be traded over it, instead of exclusivity. Other cryptos make Ripple richer, and Ripple makes other cryptos a lot richer as they finally have chance to get used.

[peter378]

http://www.cryptocoinsnews.com/chris-odom-explains-how-open-transactions-makes-altcoins-irrelevant-at-inside-bitcoins-conference/

"Open Transactions is simply a system of federated servers rather than some kind of blockchain technology."

Is Open Transactions a decentralized system or only distributed?

[Sukrim]

Is Open Transactions a decentralized system or only distributed?

Please define exactly what you mean with this, it seems you were misled by TradeFortress' "ripplescam" website and it's wrong definitions (e.g. Bitcoin definitely has a central element: the block chain).

That being said, as far as I understand it, tokens issued on OT stand for themselves and there is no central ledger - this is quite different from a lot of other systems, that rely on global state. I am not sure how they prevent double spends though.