What is the exact consensus protocol Ripple uses?

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If the Ripple network splits in half, then each half will validate ledgers independently, potentially with conflicting transactions. If all servers are properly configured, they will not accept any of these ledgers as fully validated, since none of them will have sufficient validations. It's possible both sides will think they're in the minority (if the split is close to 50/50).

This reflects a basic Ripple design principle -- don't tell people they can rely on results if the results are unreliable. If conditions make reliable operation impossible, it is preferable not to operate than to give people results they cannot rely on. Ripple is designed to detect these kinds of conditions.

When the network rejoins, servers will see the other ledger chain. They will gradually avalanche to the chain with more validations until one chain or the other has a super-majority of trusted validators. At that time, the network is back in agreement and everyone can again rely on the...

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Ripple is an internet protocol developed by Ripple Labs to connect all the world's disparate financial systems to enable secure transfer of funds in any currency in real time. Ripple Labs was co-founded by Chris Larsen and Jed McCaleb. It is based in San Francisco and has received funding from Andreessen Horowitz, Google Ventures, IDG Capital Partners, Digital Currency Group and several other prominent VC firms.

Ripple Transaction Protocol (RTXP)

A protocol is a system of rules that allows messages sent by one system to be decoded by another system. The common protocol used by people on daily basis is the communication protocol, HTTP (Hypertext Transfer Protocol) and the email protocol, SMTP (Simple Mail Transfer Protocol).

The Ripple Transaction Protocol (RTXP) serves to establish a series of rules by which disparate financial systems can communicate among one another, much like HTTP and SMTP. By establishing a universal financial protocol, RTXP...

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Consul uses a consensus protocol to provide Consistency (as defined by CAP). The consensus protocol is based on "Raft: In search of an Understandable Consensus Algorithm". For a visual explanation of Raft, see The Secret Lives of Data.

Advanced Topic! This page covers technical details of the internals of Consul. You don't need to know these details to effectively operate and use Consul. These details are documented here for those who wish to learn about them without having to go spelunking through the source code.

Raft Protocol Overview

Raft is a consensus algorithm that is based on Paxos. Compared to Paxos, Raft is designed to have fewer states and a simpler, more understandable algorithm.

There are a few key terms to know when discussing Raft:

Log - The primary unit of work in a Raft system is a log entry. The problem of consistency can be decomposed into a replicated log. A log is an ordered sequence of entries. We consider the log...

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Leading Brazil-based digital currency exchange BitInvest has launched the Coincard, a bitcoin-friendly prepaid MasterCard.

The concept is simple. The card can be topped up with bitcoins, but you can use it pretty much like any other MasterCard.

Similar concepts have been employed by Cryptex and BitPlastic. BitPlastic has been around for a while, though it has attracted plenty of criticism over its pricing scheme, among other issues.

Cryptex, on the other hand, is new to the game: it announced its AML/KYC compliant Cryptex Card earlier this week, which can be used in 80 countries.

Coincard available globally

Since it uses MasterCard's vast network, BitInvest is planning to make Coincard available globally.

However it should be noted that when you send your bitcoins to the charging address, your balance will increase, but it will do so in Brazilian Reals (BRL). BitInvest points out that before the transaction you will know what exchange...

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Cryptology ePrint Archivehttp://eprint.iacr.org/ Recently modified papers in the IACR Cryptology ePrint Archiveen-usSun, 30 Oct 2016 16:21:03 -0600webmaster@iacr.orgeprint-editor@iacr.orgNone of your business60http://eprint.iacr.org/2016/1019 , by Anamaria Costache and Nigel P. Smart and Srinivas Vivek http://eprint.iacr.org/2016/1019http://eprint.iacr.org/2016/1018 , by Stephanos Matsumoto and Raphael M. Reischuk http://eprint.iacr.org/2016/1018http://eprint.iacr.org/2016/1017 , by Douglas Stebila and Michele Mosca http://eprint.iacr.org/2016/1017http://eprint.iacr.org/2016/1016 , by Mihir Bellare and Bertram Poettering and Douglas Stebila http://eprint.iacr.org/2016/1016http://eprint.iacr.org/2016/1015 , by Yossi Gilad and Omar Sagga and Sharon Goldberg http://eprint.iacr.org/2016/1015http://eprint.iacr.org/2016/1014 , by Liqun Chen and Thalia M. Laing and Keith M. Martin http://eprint.iacr.org/2016/1014http://eprint.iacr.org/2016/1013 , by Katriel Cohn-Gordon and Cas Cremers and...
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Image: Flickr. Price/Market cap data within: http://coinmarketcap.com/ripple.html

Just as the success of Facebook helped spawn endless clones, Bitcoin’s arrival on the big stage comes with an assortment of digital currencies, known as “altcoins,” riding on Satoshi’s coattails. As the saying goes, a rising tide raises all ships. With Bitcoin up over 5000 percent since the beginning of the year, the altcoin market is booming. The price of Litecoin, what some consider silver to bitcoin’s gold, has traded as high as $20, up nearly 1000 percent in the last six months.

Is there room for more than one sheriff in town? In the case of Facebook, competitors with similar functionality never made it, regardless of apparently advantageous tweaks to the original formula. ConnectU, a direct copy founded by the Winklevii, was short-lived. Diaspora’s focus on privacy failed because people simply didn’t care. Google+ only survives in spite of itself because of, well, Google.

Successful...

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A blockchain[1][2][3] — originally block chain[4][5] — is a distributed database that maintains a continuously-growing list of records called blocks secured from tampering and revision.[1] Each block contains a timestamp and a link to a previous block.[6]:6

The blockchain is a technology that underlies bitcoin—conceived in 2008 and first implemented in 2009—where it serves as the public ledger for all transactions.[1] In the bitcoin case, every compatible client is able to connect to the network, send new transactions to it, verify transactions, and take part in the competition to create new blocks.[7]:ch. 01 The competition creating new blocks is known as mining.[7]:ch. 01 The bitcoin design has been the inspiration for other applications.[1][3]

History[edit]

The blockchain format was first used for bitcoin, as a solution to the problem of making a database both secure and not requiring a trusted administrator.[4]

As of 2014, "Blockchain 2.0" was a...

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