Throughout the past couple of months, Ripple XRP has risen to become the biggest gainer amongst all cruptocurrencies recording more than 4000% growth during around 6 weeks. This reflects increased trust of crypt-enthusiasts in Ripple’s network which relies on “path based” transactions which sets Ripple apart from other altcoins. Ripple is pseudonymous and deanonmymization attacks have been successful in the past across Ripple’s network. But what if Ripple can be completely anonymous? Wouldn’t that greatly increase the value of XRP?
Before we can answer this question, let’s first understand how Ripple’s network works
Ripple and Other Credit Networks:
Ripple is a form of a credit network across which users build trust with others via the “I Owe You” (IOU) credit concept. The concept initiates transactions between a couple of users to settle IOU credit along the trust path that extends between both of hem. Practically speaking, the IOU credit concept promotes the creation of credit networks that can undergo same and different currency transaction settlements among cryptocurrencies, fiat currencies and even other forms of user-defined currencies in a matter of a few seconds and at extremely low transaction costs.
Note: Stellar STR
Read more ... source: LiveBitcoinNews
Advertise on the Bitcoin News
Let's block ads! (Why?)
Powered by Bitcoin Central