Topic: A Ripple scenario (Read 431 times)
Ripple’s token known as XRP is under the control of a private company called Ripple Labs and XRP holders are not entitled to any piece of that company.
I'm putting forward this scenerio because even though I though I understood what was going on with Ripple transactions, I found myself not being entirely certain about the mechanics:
Alice, Bob, and Carol are all friends. Alice and Bob both live in New York and Carol lives in Los Angeles.
Bob borrows $100 from Alice. At some point after he's ready to repay her, but before having done so, he takes a business trip to LA. While he's there Alice remembers that it's Carol's birthday and tells Bob giving the $100 bill to Carol. Now everyone has been paid in full.
Suppose they decide to use Ripple to track the movements of this $100 bill. They all start with fresh wallets containing nothing except enough XRP to be able to conduct transaction. Who extends trust to whom and at what point, what transactions happen in the Ripple network, and what is the state of everyone's wallets and trust relationships at the end of this scenario?
Alice, Bob, and Carol are all friends. Alice and Bob both live in New York and Carol lives in Los Angeles.
Bob borrows $100 from Alice. At some point after he's ready to repay her, but before having done so, he takes a business trip to LA. While he's there Alice remembers that it's Carol's birthday and tells Bob giving the $100 bill to Carol. Now everyone has been paid in full.
Suppose they decide to use Ripple to track the movements of this $100 bill. They all start with fresh wallets containing nothing except enough XRP to be able to conduct transaction. Who extends trust to whom and at what point, what transactions happen in the Ripple network, and what is the state of everyone's wallets and trust relationships at the end of this scenario?
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