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content/concepts/introduction/technical-faq.md
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<!--#{ using h4s for questions to keep them out of the right side nav (too cluttered when they display) and to provide appropriate text size for questions. #}-->
#### What service do transaction validators provide?
Validators determine if transactions meet protocol requirements, and are therefore “valid.” The service validators uniquely provide is grouping transactions into ordered units, agreeing on one such ordering specifically to prevent double spending.
Validators determine if transactions meet protocol requirements, and are therefore “valid.” The service validators uniquely provide is grouping transactions into ordered units, agreeing on one such ordering specifically to prevent double spending. <!-- STYLE_OVERRIDE: therefore -->
See [Consensus](consensus.html) and the [Ripple Labs Tech Talk: Understanding Consensus](https://ripple.com/insights/ripple-labs-tech-talk-consensus-within-the-ripple-protocol/) for more information about the consensus process.
@@ -17,7 +17,7 @@ Running a validator does not require any fees or XRP. It is comparable in cost t
#### What are Unique Node Lists (UNLs)?
They are the lists of transaction validators a given participant believes will not conspire to defraud them.
They are the lists of transaction validators a given participant believes will not conspire to defraud them. <!-- STYLE_OVERRIDE: will -->
#### Which UNL should I select?
@@ -37,18 +37,18 @@ The primary incentive to run a validator is to preserve and protect the stable o
If you run an XRP Ledger server to participate in the network, the additional cost and effort to run a validator is minimal. This means that additional incentives, such as the mining rewards in Bitcoin, are not necessary. Ripple avoids paying XRP as a reward for operating a validator so that such incentives do not warp the behavior of validators.
#### Can financial institutions set up transaction validators that will help them meet specific institutional standards and requirements?
#### Can financial institutions set up transaction validators to help them meet specific institutional standards and requirements?
No, institutions cannot set up customized validator policies for choosing to allow some transactions and reject others. Validators either follow the protocol, or they do not. If software does not follow protocol rules, it will not function. Thus, it is not recommended that institutions seek out custom implementations without in-house expertise.
No, institutions cannot set up customized validator policies for choosing to allow some transactions and reject others. Validators either follow the protocol, or they do not. If software does not follow protocol rules, it does not function. Thus, it is not recommended that institutions seek out custom implementations without in-house expertise.
#### What will happen if more than 20% of nodes within the network do not agree with the majority? How is the final version of the ledger chosen?
#### What happens if more than 20% of nodes within the network do not agree with the majority? How is the final version of the ledger chosen?
The network may temporarily halt to reconfigure itself to continue with the new UNL list based on those that want to reach consensus. This temporary processing delay is desired rather than double spending.
In the process of determining the final, authoritative version of the ledger, there may be multiple temporary internal versions. Such internal versions will happen in distributed systems because not all nodes will receive transactions in the same order. The analogous behavior in Bitcoin is where two servers each see a different longest chain because two blocks were mined at about the same time.
In the process of determining the final, authoritative version of the ledger, there may be multiple temporary internal versions. Such internal versions naturally happen in distributed systems because not all nodes receive transactions in the same order. The analogous behavior in Bitcoin is where two servers each see a different longest chain because two blocks were mined at about the same time.
However, there will only be one authoritative ledger version at any given time; other versions are irrelevant and harmless.
However, there can be only one latest _validated_ ledger version at any given time; other versions are irrelevant and harmless.
#### Does the XRP Ledger have a formal process for adding validators?
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#### What is Ripple standard operating procedure regarding money laundering and suspicious economic activity?
<!-- STYLE_OVERRIDE: regarding -->
Ripple is committed to monitoring and reporting any AML flags across the XRP Ledger network, as well as reporting suspicious activity to FinCEN as applicable.

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content/concepts/introduction/xrp-ledger-overview.md
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# XRP Ledger Overview
The **XRP Ledger** is a decentralized cryptographic ledger powered by a network of peer-to-peer servers. The XRP Ledger is the home of **XRP**, a digital asset designed to bridge the many different currencies in use worldwide. Ripple stewards the development of the XRP Ledger, and advances XRP as a key contribution to the _Internet of Value_: a world in which money moves the way information does today.
The **XRP Ledger** is an online system for payments, powered by a community without a central leader. Anyone can connect their computer to the peer-to-peer network that manages the ledger. The XRP Ledger is the home of **XRP**, a digital asset designed to bridge the world's many currencies. The XRP Ledger is one part of the developing _Internet of Value_: a world in which money moves the way information does today.
## The Digital Asset for Payments
XRP is a digital asset native to the XRP Ledger. Anyone with a cryptographic key and an internet connection can receive, hold, and send XRP to anyone else. XRP's creators have developed it to be a desirable bridge currency that can enable 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 succeed or fail, and no one can "roll back" a transaction after it completes. As long as those who choose to participate in the network keep it healthy, they can send and receive XRP 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 at least an order 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 will ever be created. (Each XRP is divisible down to 6 decimal places, for a grand total of 100 quadrillion (10^17) _drops_ of XRP.) The available supply of XRP decreases slowly over time as small amounts are destroyed to pay transaction costs.
- **[Fast, Efficient Consensus Algorithm][]:** The XRP Ledger's consensus algorithm settles transactions in 4 to 5 seconds, and can process up to 1500 transactions per second. These properties put XRP far ahead of other top digital assets.
- **[Finite XRP Supply][]:** When the XRP Ledger began, 100 billion XRP were created, and no more XRP will ever be created. (Each XRP is divisible down to 6 decimal places, for a grand total of 100 quadrillion (10^17) _drops_ of XRP.) The available supply of XRP decreases slowly over time as small amounts are destroyed to pay transaction costs. <!-- STYLE_OVERRIDE: will -->
- **[Responsible Software Governance][]:** A team of full-time, world-class developers at Ripple maintain and continually improve the XRP Ledger's underlying software. Ripple acts as a steward for the technology and an advocate for its interests, and builds constructive relationships with governments and financial institutions worldwide.
- **[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.
- **[Modern Features for Smart Contracts][]:** Features like Escrow, Checks, and Payment Channels support cutting-edge financial applications including the [Interledger Protocol](https://interledger.org/). This toolbox of advanced features comes with safety features like a process for amending the network and separate checks against invariant constraints.