What will the open source Ripple competitor look like? - page 2.

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Quote from: Sukrim on October 22, 2013, 03:35:09 AM

Quote from: Arvicco on October 21, 2013, 07:01:41 PM

ripple.com is a proprietary implementation of this system[...]

In case you didn't notice, in the last month the source code for rippled, the only component that was not publicly available with an Open Source license got published.

In case you didn't notice, SSL's web of trust is implemented in an open source manner however it's still de facto centralized.

Sukrim

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Quote from: Arvicco on October 21, 2013, 07:01:41 PM

ripple.com is a proprietary implementation of this system[...]

In case you didn't notice, in the last month the source code for rippled, the only component that was not publicly available with an Open Source license got published.

Arvicco

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Please bear with me

Quote from: ?? on ??

Why would anyone with an IQ higher than 90 touch ripple Huh

Do you mean Ripple-like systems in general, or ripple.com specifically? Ripple is yet unproven, but still interesting idea of a community-based credit system, with many potential benefits. ripple.com is a proprietary implementation of this system that many people find deeply flawed, to the point of being unusable. It does not mean that a better system could not be implemented.

Quote from: MAbtc on October 21, 2013, 12:14:10 PM

Necro-thread.

Well, initial posts failed to produce a meaningful answer to a very direct question. I find this question quite interesting and claim some technical expertise on the matter (https://bitcointalksearch.org/topic/ripple-command-line-client-discontinued-150447). So I did my best to address it. It's not like the situation with Ripple changed much in the last month, so I hope OP may still find my answer somewhat useful.

MAbtc

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Necro-thread.

That whole open-source thing for Ripple.... kind of flopped on the news cycle, huh. Is anyone even working on a clone of Ripple, or have people forgotten about it entirely?

Arvicco

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Please bear with me

I suppose it is very much possible to replicate the whole Ripple system based on mining, without pre-mined XRP. All you need is a lottery mechanism to distribute XRP to nodes participating in consensus-building. Instead of proof of work (as in Bitcoin and its alts), such network would require proof of consensus (POC) from all participating nodes. Roughly, the more each node is in agreement with the rest of network, the higher its chances to win in the lottery.

Exact mechanism to enact such lottery needs to be worked out, but this task is not unsurmountable. New coins release schedule could be structured in a similar way to Bitcoin, using (possibly gradually) diminishing scale. This way, XRP-equivalent will be issued in a predictable manner, preventing the uncertainty and the need to trust central authority that is the bane of ripple.com scheme.

In all other respects, such system may 100% replicate Ripple functionality, use Ripple protocols and Ripple client/server software. That is, until "OpenCoin" starts enforcing its hidden copyrights, patents, intentionally break compatibility and whatnot against such a competitor that would surely force them out of business otherwise.

ElectricMucus

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Marketing manager - GO MP

Hash Crunching Idiots. -satoshi

Snail2

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Quote from: chriswen on September 22, 2013, 12:23:21 PM

Well, unless they change it, the original plan was it to not be minable. There will be nodes that will work on consensus and verifying transactions but no PoW mining.

Then it must be it's something similar to TimeKoin or eMunie.

chriswen

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Well, unless they change it, the original plan was it to not be minable. There will be nodes that will work on consensus and verifying transactions but no PoW mining.

Snail2

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As soon as they release the code we will know if it's mineable or it using some other method.

trevos

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I don't think so. They already planned to giveaway some coins, and sell the others.
Open source or not does not matter.

annette786

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annette786

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Ripple is supposedly going open source on the 26th. Is it possible to have miners instead of relying on a few people to distribute pre-mined coins?

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