Topic: [ANN] Ripple is officially open-source! w/link - page 4. (Read 24592 times)

WOW, kind of surprising. i did not think that open coin would actually deliver on this. i wonder where it will go from here. hmmm....

So, one point to the builders and sharers, one poke in the eye to the haters!  

"What will be the most interesting about the open-sourced code may well be the consensus algorithm. If it works, consensus is arguably a major improvement over any of the “mining”-like algorithms that Bitcoin and other cryptocurrencies can offer; it both completely removes Bitcoin’s “wasted electricity” problem and makes it much more difficult to successfully execute an attack against the network. However, the main objection is, will it actually work? Up until now, the process has been well-documented on the Ripple wiki in text, diagrams and a video. However, the description has been high-level, and the documentation has not been in a formal form suitable for mathematical or cryptographic analysis. Now, we have access to the source code, which is literally as formal a description of the consensus process that one can get. For the first time, actual cryptographers outside of Ripple Labs will be able to create mathematical models out of the code, run simulations or prove theorems on it and see if it actually lives up to the hype."

http://bitcoinmagazine.com/7275/ripple-is-officially-open-source/

Someone mind looking over these and providing a few answers?

https://bitcointalksearch.org/topic/ripple-q-a-joel-katz-and-ripple-inc-303114

 scanning my computer for wallet.dat Lol hahah you discover the ripple conspiracy O_o ahha

Has anyone tried to launch rippled?

I got such a picture:



Not sure if it's scanning my computer for wallet.dat talking to the Ripple network or just running an infinite loop.

I don't think Bitstamp is IN THE RED "baby" ....   you are really a dummy ... what did you expect ? ripple making 1millions dollars a day within 1Month ? idiot

What if the deal with ZipZap is real? How much better would it make this?

Agree, but anyway they make something new, maybe usefull in future.

https://ripplecharts.com/markets

There's been no progress since May...
You got Bitstamp and nothing else...
Even with the BIG BOOM of open sourcing only $38,000 USD/XRP traded.

Their big US Gateway SnapSwap is doing $2,315 of business/day.

If you bought XRP in May... you are STILL DOWN 50% at 9000/BTC...
There's no liquidity anyway to make any real money...
Plus 98,000,000,000 XRP waiting to be dumped on you, baby.
 
Compared to mcxNOW... Ripple is a Ghost Town = 100% hype...
Do people not realize that every single business associated with Ripple is IN THE RED.

You can easily test this yourself - just run e.g. a handful of independent servers, put their NodeIDs in each UNL and require a quorum of 3/5 on each. You will not be able to double-spend at all and also won't see any double-spend attempts, you will end on a fully forked ledger with 100 billion unspent XRP in the genesis account. Any double-spend attempts towards your or mainline ledgers will fail, as you have a completely different XRP and trust distribution in your ledgers, meaning your 5 servers will regard every transaction on mainline Ripple as being fake and on the other hand any transaction that is valid on your fork is seen as invalid on mainline Ripple.

This is just like starting Bitcoin with a different genesis block or after a hard fork. Transactions on one block chain will be viewed as completely fake from the other part of the fork and vice versa.

Just as the consensus in Bitcoin is: The main chain is the one starting from Satoshi's genesis block AND has the checkpoints which are embedded in bitcoin-qt (as there might be somebody else starting from Satoshi's block), it is the same in Ripple where the main ledger chain is the one started in Dec. 2012. Of course in both cases it is trivial to start an alternate reality - calling it "centralized" because of this is a bit much in my opinion though, as this would apply to Bitcoin in the same way for example...

Glad to see they delivered.

Nice to see some steps in the right direction with Open Sourcing and with the name change.

However

Despite that though I still have an instinctive aversion to the concept of chains of trust and passing around debts. Bitcoins are something I get, it is sound money. Ripple is something that I just don't get the idea is confusing and even if the ripple devs have good intentions, I can't get past feeling that the idea can be used for nefarious aims.

Talk is cheap show me the code. Ripple delivered, your move.

You'd need to remove the UNL aspects too to make it decentralized. Mining can work without high orphans and a 10s/ledger system - each PoW hit entitles you to the next ledger updates until another PoW hit for example which are not tied to ledger updates, with the reward distributed among the next ledgers to disincentize stalling.

Video game engine analogy: 60 FPS rendering, 20 FPS physics engine.

They just believe in Harry Potter with a magic wand.

Nooo, this is never going to happen. They open sourced their server just to scum you, my dear anarcho-libertarian shitheads!  

Collect bounty to speed this up.

No. If you only put third party ones in, and the third party ones do not add OpenCoin, you will end up with a diff ledger when someone tries a double spend - broadcasting one to Open coin and one to your 3rd party validators.

The bridge comment was in response to shakezola.

Of course you'll have at least an indirect connection to opencoin, as they ran the main ledger until now. If you put only third party nodes there, you'll still end up on the main one, just like with bitcoin where everyone ends up on satoshi's chain.

This is the stupidest shit I have read this week and its Thursday.