Startup Ripple, which stands for one of the top cryptocurrencies, decided to update the basic technology that underlies the product.
Ripple is going to release two new official document for peer review one of them describes the algorithm of consensus XRP more formal way, and another way to improve the variety of connections of each node.
This demonstrates the willingness Ripple among investors which are banks such as Santander and SBI, to invest in basic infrastructure, which supports the cryptocurrency.
Although XRP has become one of the most popular cryptocurrency in some way its development lags behind other more successful projects such as bitcoin and Ethereum.
It is not surprising that Ripple CTO Stefan Thomas speaks of this event as this, which aims to promote closer relations between the research division and the scientific community. In short, the startup wants to make it easier for scientists to work with technology, Ripple:
This is the first time we are releasing material reviewed. Obviously, this opens the door for future research. This is only the first step in our cooperation with the scientific community.
In a broader sense, these documents can be considered as the first attempt for quite a long time to update and improve the documentation platforms. Previous work of this kind was released in 2014.
These two documents have one Central theme: security.
What we’re trying to do is add some protection from some unlikely attack scenarios. Mainly in order to avoid manipulation of the entire network as a whole.
The key word here is “unlikely.” Thomas argues that these attacks unless the attacker is not, for example, the government of the United States, which is sufficient technological and financial resources in order to completely destroy the network. Although such a scenario remains unlikely, a startup still trying to defend himself from these cases.
We are extremely careful, we want the best security.
The first document, entitled “Analysis of the XRP Protocol, Consensus Ledger”, is based on document 2014 and comes down to two things: “security”, the main threat to which it is possible to fork and the subsequent separation of the network and “viability”, which consists in the fact that the network under all conditions will continue processing the transaction.
The second document “Cobalt: BFT management in open networks” aims at improving previous plans XRP using an algorithm that supports a richer array of validators.
You can think of XRP as a voting system, where each node that stores the transaction history of Ripple, has the right to vote. To achieve this, each node in the Ripple network contains something that could be called a unique node list (UNL), a list of the nodes in the Ripple network that this node considers legitimate.
Both articles are largely concerned with distributed systems area of research in computer science, describing how to operate large networks. And because they are more theoretical, Thomas stressed that these documents are likely to have longer-term effect.
This will not affect how users are now using XRP. No downtime or anything will not.