From 5b81454572676a286feb44f58bd1301188cd1d06 Mon Sep 17 00:00:00 2001 From: mDuo13 Date: Wed, 21 Feb 2018 14:56:09 -0800 Subject: [PATCH] XRP Ledger Intro (1/?) --- content/concept-xrp-ledger-intro.md | 52 +++++++++++++++++++++++++++++ dactyl-config.yml | 6 ++++ 2 files changed, 58 insertions(+) create mode 100644 content/concept-xrp-ledger-intro.md diff --git a/content/concept-xrp-ledger-intro.md b/content/concept-xrp-ledger-intro.md new file mode 100644 index 0000000000..3732b120cf --- /dev/null +++ b/content/concept-xrp-ledger-intro.md @@ -0,0 +1,52 @@ +# XRP Ledger Introduction + +The **XRP Ledger** is a decentralized cryptocurrency network. Like all such networks, it's powered by a peer-to-peer server and it enables anyone to send and receive value within the rules of the network. The XRP Ledger is the home of **XRP**, a cryptocurrency which was designed by its creators to bridge the many different currencies preferred by people worldwide. Ripple, the company that stewards development of the XRP Ledger, expects XRP to be a key part of enabling the "Internet of Value": a world in which money moves the way information does today. + +## The Best Digital Asset + +XRP is the native cryptocurrency of the XRP Ledger. Anyone with a cryptographic key and an internet connection can receive, hold, and send XRP to anyone else. From the beginning, XRP's creators have developed it to be a desirable bridge currency which can facilitate trades in any other currency. XRP has many properties which make it an appealing asset for many other use cases, too: + +- **[Censorship-resistant transaction processing][]:** No single party decides which XRP transactions are approved or not, and no one can "roll back" a transaction after it has happened. As long as those who choose to participate in the network keep it healthy, XRP can be sent and received in seconds. +- **[Fast, Efficient Consensus Algorithm][]:** The XRP Ledger's consensus algorithm settles transactions in 4 to 5 seconds, processing at a throughput of up to 1500 transactions per second. These properties put XRP orders of magnitude ahead of other top digital assets. +- **[Finite XRP Supply][]:** When the XRP Ledger began, 100 billion XRP were created, and no more XRP can be created since. (Each XRP is subdivisible down to 6 decimal places, for a grand total of 100 quintillion "drops" of XRP.) The available supply of XRP decreases slowly over time as small amounts are destroyed to pay transaction costs. +- **[Responsible Software Governance][]:** The XRP Ledger's software is maintained by a team of world-class developers at Ripple, who maintain the security of the network while adding features and stewarding future developments. Ripple acts as a steward for the software and an advocate for its interests, so the XRP Ledger ecosystem has a constructive relationship with governments and financial institutions, not an adversarial one. +- **[Secure, Adaptable Cryptography][]:** The XRP Ledger relies on industry standard digital signature systems like ECDSA (the same scheme used by Bitcoin) but also supports modern, efficient algorithms like Ed25519. The extensible nature of the XRP Ledger's software makes it possible to add and disable algorithms as the state of the art in cryptography advances. +- **[Smart Features for Smart Contracts][]:** The XRP Ledger has features like Escrow, Checks, and Payment Channels to support building cutting-edge financial applications, especially the [Interledger Protocol](https://interledger.org/). This toolbox of advanced features comes with separate double-checks on invariant rules, so even a glitch in the transaction implementation won't cause the XRP Ledger to become inconsistent or corrupt. +- **[On-Ledger Decentralized Exchange][]:** In addition to all the features that make XRP useful on its own, the XRP Ledger also has a fully-functional accounting system for tracking and trading obligations denominated in any way users want, and an exchange built into the protocol. The XRP Ledger can settle long, cross-currency payment paths and exchanges of multiple currencies in atomic transactions, bridging gaps of trust with XRP. + +## Censorship-Resistant Transaction Processing +[Censorship-resistant transaction processing]: #censorship-resistant-transaction-processing + +***TODO: write this*** + +## Fast, Efficient Consensus Algorithm +[Fast, Efficient Consensus Algorithm]: #fast-efficient-consensus-algorithm + +The XRP Ledger's biggest difference from most cryptocurrencies is that it uses a unique consensus algorithm that does not waste time and energy on "mining", the way Bitcoin, Etherium, and almost all other such systems do. Instead of "proof of work" or even "proof of stake", The XRP Ledger's consensus algorithm uses a system where every participant has an overlapping set of "trusted validators" and those trusted validators efficiently agree on which transactions happen in what order. A single Bitcoin transaction wastes more electricity than a family home in the USA uses in an entire day, and confirming the transaction takes hours. A single XRP transaction uses a negligible amount of electricity, and takes 4 or 5 seconds to confirm. Furthermore, each new "ledger version" in the XRP Ledger (the equivalent of a "block") contains the full current state of all balances, so a server can synchronize with the network in minutes instead of spending hours downloading and re-processing the full transaction history. + +For more information on how the XRP Ledger's consensus algorithm works, see [The XRP Ledger Consensus Process](concept-consensus.html). For background on why the XRP Ledger uses a consensus algorithm, see [Reaching Consensus In the XRP Ledger](concept-reaching-consensus.html). + +## Finite XRP Supply +[Finite XRP Supply]: #finite-xrp-supply + +***TODO: write this*** + +## Responsible Software Governance +[Responsible Software Governance]: #responsible-software-governance + +***TODO: write this*** + +## Secure, Adaptable Cryptography +[Secure, Adaptable Cryptography]: #secure-adaptable-cryptography + +***TODO: write this*** + +## Smart Features for Smart Contracts +[Smart Features for Smart Contracts]: #smart-features-for-smart-contracts + +***TODO: write this*** + +## On-Ledger Decentralized Exchange +[On-Ledger Decentralized Exchange]: #on-ledger-decentralized-exchange + +***TODO: write this*** diff --git a/dactyl-config.yml b/dactyl-config.yml index 9447c1c650..6cdbf002d1 100644 --- a/dactyl-config.yml +++ b/dactyl-config.yml @@ -129,6 +129,12 @@ targets: "reference-rippled.html": https://ripple.com/build/rippled-apis/ pages: + - md: concept-xrp-ledger-intro.md + category: Introduction + targets: + - local + - ripple.com + # References are exhaustive lists of commands and options - name: RippleAPI category: References