Ripple without the ripples? - page 2.

coinft

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Quote from: HostFat on June 12, 2013, 12:57:27 PM

Quote from: jaywaka2713 on June 12, 2013, 12:55:12 PM

OK. Servers might be decentralized, but if we decided we wanted something changed, could we distribute a patch to 51% of the network and fork the code? If no, it isn't decentralized in the slightest.

Yes, we will be able to do it

https://ripple.com/wiki/Consensus

As we haven't seen the code you cannot know that, and at the moment you need to trust a single central agency to have told you the truth about ripple's implementation.

Even if they aren't malicious, you need to trust they succeeded at security by obscurity, and the system won't exhibit critical flaws when (or rather if) open sourced. The chances are slim, as any expert will tell you.

HostFat

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Quote from: jaywaka2713 on June 12, 2013, 12:55:12 PM

OK. Servers might be decentralized, but if we decided we wanted something changed, could we distribute a patch to 51% of the network and fork the code? If no, it isn't decentralized in the slightest.

Yes, we will be able to do it

https://ripple.com/wiki/Consensus

jaywaka2713

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Quote from: bpd on June 12, 2013, 12:08:58 PM

Quote from: jaywaka2713 on June 11, 2013, 07:56:00 PM

No as ripple isn't decentralized at all. A single server processes all transactions. Take down the server, take down ripple. Their system doesn't work.

It's not decentralized NOW, because OpenCoin is the only one running servers. But they have clearly stated their long term plan is to open-source the server. The system is definitely designed to be decentralized.

OK. Servers might be decentralized, but if we decided we wanted something changed, could we distribute a patch to 51% of the network and fork the code? If no, it isn't decentralized in the slightest.

bpd

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Quote from: jaywaka2713 on June 11, 2013, 07:56:00 PM

No as ripple isn't decentralized at all. A single server processes all transactions. Take down the server, take down ripple. Their system doesn't work.

It's not decentralized NOW, because OpenCoin is the only one running servers. But they have clearly stated their long term plan is to open-source the server. The system is definitely designed to be decentralized.

jaywaka2713

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Activity: 266

Merit: 250

aka 7Strykes

Quote from: bpd on June 11, 2013, 07:37:01 PM

I predict one of the two following things will happen:

1) Once OpenCoin releases the source for the Ripple server, we will find a way to fork the project and create a version that does not require XRP to function.

2) OpenCoin will never open source the server, making their claim of decentralization a lie.

Ripple can be a very useful system, allowing rapid payments, trading of IOUs and distributed exchanges. Its main problem is its reliance on XRP, and the company/developers that own the vast majority of them. We HAVE a wealth asset (BTC), and we don't need another one, especially not one with a central bank that controls most of it.

How could you make Ripple work without the XRP? One possibility: per-transaction proof-of-work similar to what's used in BitMessage. If not that, then something else. I have faith in the inventiveness of the developer community.

No as ripple isn't decentralized at all. A single server processes all transactions. Take down the server, take down ripple. Their system doesn't work.

bpd

member

Activity: 114

Merit: 10

I predict one of the two following things will happen:

1) Once OpenCoin releases the source for the Ripple server, we will find a way to fork the project and create a version that does not require XRP to function.

2) OpenCoin will never open source the server, making their claim of decentralization a lie.

Ripple can be a very useful system, allowing rapid payments, trading of IOUs and distributed exchanges. Its main problem is its reliance on XRP, and the company/developers that own the vast majority of them. We HAVE a wealth asset (BTC), and we don't need another one, especially not one with a central bank that controls most of it.

How could you make Ripple work without the XRP? One possibility: per-transaction proof-of-work similar to what's used in BitMessage. If not that, then something else. I have faith in the inventiveness of the developer community.

Topic: Ripple without the ripples? - page 2. (Read 1590 times)