XRP

An Intro

Sponsored By Dev Null Productions

• What Is XRP
• Use Cases
• How It Works
• How You Can Use It
• Pitfalls / Gotchyas

XRP is a digital asset in development by Ripple Labs (formerly OpenCoin) from 2012

Targeted towards financial applications, XRP has gained traction with Banks, Payments Providers, and the FinTech Industry

XRP works by employing a distributed ledger / concensus based blockchain, where nodes on the network, known as validators, periodically verify transactions on the network

Transactions fall into several categories

• Payments - XRP and IOUs for other currencies
• Payment Channels - Automated Payments
• Escrows - Delayed/Held payments
• Checks - Payments redeamable by the recipient
• Offers - Fully Decentralized Exchange!
• Account Settings / Trust Lines / Signer Lists / + More

IOUs are ultimately issued by gateways, real world instituions responsible for managing client funds. It is up to each XRP user to extend trust lines to these gateways limited by the amount of trust they place in them

Gateways

How to use it

• Issue Payments / Transactions
• Provide Liquidity (market making, trading)
• Subscribe to the ledger
• Run your own validator
• Become a gateway

Pitfalls

• Process the ledger sequentially, or take care to sequence data
• Synchronize through ledger metadata
• Use the datav2 API
• Validate transaction criteria to avoid fees
• Query / preselect payment paths

References

• https://developers.ripple.com
• http://rppl.info/
• http:/wipple.devnull.network

Questions ?