Analysis of Ripple's XRP vs GDAX Digital Asset Framework

in #ripple7 years ago

In December 2017, I took the GDAX Digital Asset Framework (https://www.gdax.com/static/digital-asset-framework-2017-11.pdf) and copied it in cliff notes fashion. I then highlighted the 5 points that would keep XRP from being added to Coinbase. However, after the most recent Coinbase Tweet, I went back and re-analyzed. What I found was that Ripple, for the past 3 months, has been making changes, additions, and implementations to solve ALL five of the requirements they lacked.

Why? To be compliant with GDAX standards in preparation for a partnership with Coinbase as mentioned in my video -

Below are the 5 points and the action Ripple has taken to satisfy them.

1.1 Open Financial System – Decentralized. ---- Ripple has been dentralizing since May of 2017, but amped it up with, "Cobalt" as noted in the Cornell University peer reviewed whitepaper released on 2/20/18 (https://arxiv.org/abs/1802.07240).

1.1 Equality of Opportunity – accessible tech (smart phone) ---- Ripple announces MoneyTap on 3/6/18 (https://ripple.com/insights/ripple-powered-mobile-app-provide-demand-domestic-payments-japan/)

2.1 Source Code – open source, well documented peer reviewed, tested by contributors separate from the initial development team on GitHub, etc. (external) ---- Two new peer reviewed whitepapers released on 2/20/18 by Cornell University (Analysis of the XRP Ledger Consensus Protocol - https://arxiv.org/abs/1802.07242 & Cobalt: BFT Governance in Open Networks - https://arxiv.org/abs/1802.07240)

2.3 Consensus Process – process in place for updates to the code or voting for conflict resolution. ---- Implemented and documented in Analysis of the XRP Ledger Consensus Protocol - https://arxiv.org/abs/1802.07242

5.2 Nodes – growing # of nodes, global nodes, NO geo limited nodes - new white paper describes XRP’s consensus algorithm in a more formal way and the other outlining a way to improve the diversity of connections of each node, the software users run to relay and verify transactions on the network.

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