4 ms·
>"Have they solved the 'you need the whole blockchain' bit?" Yes. Ripple servers only need the current state of the ledger (as opposed to requiring the entire
by philrapo 13y ago
>"Have they solved the 'you need the whole blockchain' bit?"
Yes.
Ripple servers only need the current state of the ledger (as opposed to requiring the entire history of transactions, as Bitcoin does). This eliminates the problem of needing to download GBs of history to run a server. You can optionally download the full ledger history if you want access to the data, but it is not required for your server to participate in transaction processing. It's a much lighter weight design in general.
- Negitivefrags 13y agoIt's a shame, then, that ripple is a complete scam created by people who created a currency and then gave themselves all the coins in it.
- philrapo 13y agoRipple allows you to move USD, BTC, or any currency using distributed ledger system. You dont need to use "the coins" created by Ripple. As a separate point -- by your logic, bitcoin is a complete scam created by Satoshi Nakamoto who created a currency then gave himself $400mm worth of it. [1] And Google is a complete scam created by Larry and Sergei, who created equity and gave themselves all of it. [1] http://mag.newsweek.com/2014/03/14/bitcoin-satoshi-nakamoto.html?piano_t=1 http://mag.newsweek.com/2014/03/14/bitcoin-satoshi-nakamoto....
- sroerick 13y agoThey also put billions of dollars of venture capital into it. Ripple wouldn't be worth what it is today without that.
- svenkatesh 13y agoWow, I had no idea that billions of dollars were fed into ripple. Do you have any links that delve into more details (such as who was behind the funding rounds)?
- mulligan 13y agoHe meant to say billions of ripple coins, surely.
- svenkatesh 13y agoThat makes even less sense; they invested billions of ripple in venture capital into making... ripple? This investment of billions of ripple gave value to... ripple?
- mulligan 13y agosarcasm on my part ;)
- sroerick 13y agoI was in error, I repeated this without confirming and looking at "market cap" pages led me to believe it was true.
- pseut 13y agoI don't know anything about ripple, but that's true of everything ever made. He'll, I've made my own currency and have all the coins. Trading them for real stuff is kind of hard, though.