Re: Scared about Bitcoin crashing? See this... Abstract: In this piece, we briefly look over the history of Ripple and examine various disputes between the founders and partner companies, typically over control of XRP tokens. We then explore elements of the technology behind Ripple. We conclude that the apparent distributed consensus mechanism doesn’t serve a clear purpose, because the default behaviour of Rippled nodes effectively hands full control over updating the ledger to the Ripple.com server. Therefore, in our view, Ripple does not appear to share many of the potentially interesting characteristics crypto tokens like Bitcoin or Ethereum may have, at least from a technical perspective.
In September 2013, OpenCoin became Ripple Labs.
In February 2014, Ripple implemented the “ balance freeze” feature, which it activated in August 2014. This allowed Ripple gateways to freeze or even confiscate coins from any user of its gateway, even without a valid signature for the transaction.
Above is only one paragraph of the story, read the rest using the link below. THE STORY OF RIPPLE: https://blog.bitmex.com/the-ripple-story/ |