Hacker Newsnew | comments | show | ask | jobs | submit login

Ripple appears to essentially be 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.




I 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

[2] http://bitcoin.stackexchange.com/questions/7590/does-ripple-...

-----




Guidelines | FAQ | Support | API | Security | Lists | Bookmarklet | DMCA | Apply to YC | Contact

Search: