Digital Currency XRP rose 4,000% in the first half of 2017
While several consensus algorithms exist for the Byzantine Generals Problem, specifically as it pertains to distributed payment systems, many suffer from high latency induced by the requirement that all nodes within the network communicate synchronously. In this work, we present a novel consensus algorithm that circumvents this requirement by utilizing collectively-trusted subnetworks within the larger network. We show that the “trust” required of these subnetworks is in fact minimal and can be further reduced with principled choice of the member nodes. In addition, we show that minimal connectivity is required to maintain agreement throughout the whole network. The result is a low-latency consensus algorithm which still maintains robustness in the face of Byzantine failures. We present this algorithm in its embodiment in the Ripple Protocol.
Ripple's (XRP) token finished the 2nd quarter priced at $0.263, up 4,000% higher year-to-date. The San Francisco-based start-up said there were $11.06 billion worth of XRP transactions in the second quarter of 2017 and XRP is currently listed on 30 exchanges across the crypto-currency industry.
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STOPHello ! ~~
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