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Ripple appears to essentially be Hawala (http://en.wikipedia.org/wiki/Hawala http://en.wikipedia.org/wiki/Hawala) in digital form. I'm actually not sure of the
by eof 14y ago
Ripple appears to essentially be Hawala (http://en.wikipedia.org/wiki/Hawala http://en.wikipedia.org/wiki/Hawala) in digital form.
I'm actually not sure of the necessity of XRP; since bitcoin, or any other currency can propagate across the network.
- deleted 14y ago[deleted]
- wcoenen 14y agoI was surprised by XRP as well. Apparently they introduced it as an anti-DOS mechanism, meaning that you have to destroy some XRP to do a ripple transaction[1]. To me it would have made more sense if each of the accounts involved in a ripple transaction could simply charge a transaction fee nominated in the currency being transacted. edit: it seems that such transaction fees are possible[2]. Not sure why XRP is needed then. [1] https://ripple.com/wiki/Ripple_credits https://ripple.com/wiki/Ripple_credits [2] http://bitcoin.stackexchange.com/questions/7590/does-ripple-ever-charge-proportional-transaction-fees http://bitcoin.stackexchange.com/questions/7590/does-ripple-...