[Review/Compare] Ripple. Score = +50steemCreated with Sketch.

in #steemit6 years ago (edited)

Disclaimer: I am not a financial advisor, this is not financial advice but only provided for information purposes. Although I will do my best I cannot guarantee the accuracy of information in this document.

Invested potential conflict of interest, i.e. do I own more than a tiny amount used for testing purposes. I will attempt to be impartial regardless of whether I own the coin or not: No

Currency: Ripple

Previous Names: None

Short Summary of Intent: The aim of Ripple is to be a global payments network to allow banks among others to transfer internationally affordably and quickly.

Code: XRP

Market Cap: 37,200,000,000

Market Cap Updated: 27/02/2018

Coinmarketcap.com Ranking: 3

Coinmarketcap.com Ranking Last Updated: 27/02/2018

Market Cap Score: +8

Trading Volume: $38,500,000,000

Trading Volume Last Updated: 27/02/2018

Trading Volume Score: +5

Pow/POS/Other: Ripple Protocol Consensus algorithm or Proof of Correctness

POW algorithm if applicable: N/A

Block Time (seconds): N/A (Not a blockchain)

Block Size: N/A (Not a blockchain)

Annual Inflation Rate: -.006%

Date inflation rate updated: 27/02/2018

Future Inflation rate declines: Not as I understand it.

Inflation Rate Score: +10

Circulating Coin Supply: 39,094,000,000

Date coin supply updated: 27/02/2018

Max Coin Supply (Jan 2100 if infinite): 99,993,000,000

Circulating Supply as a percentage of max: 39%

Score for circulating percentage: +0

Premine as a percentage of max supply: I am going to call this a 100% premine for now. There is a case for it to be argued that it is either an 80% or a 20% premine but I'm not buying it for now.

Score for premine percentage: -20

Privacy Currently: No

Privacy Planned: Not that I am aware of

Privacy Method: N/A

Privacy Strength: N/A

Privacy Score: 0

Centralization: 5: Ripple is very highly centralized, the Ripple network is a permissioned network. A very large ammount of the pre-mined coins are held by Ripple.

Centralization Score: -5

Team: I found varying reports on the number of employees at Ripple Labs, ranging from 120 to over 200. I could not find an official number on their website. A news article published mid January stated that they had 170. In any case they will recieve the full +10 score.

Team Funded: Paid employees at Ripple Labs (formerly OpenCoin)

Team Score: +10

Start Date: 2/2/2013

Start Date Score: +6

Transactions per second: 1500

Transactions second layer or side chains currently implemented?: N/A, not a blockchain

Transaction Fee Average (USD): $0.006

Transaction Fee Date Updated: 27/02/2018

Transactions Score: +8 (blockchain bloat addressed by rising fees for large numbers of transactions)

Type: Currency

Degree of completion: 4, Does virtually everything planned. AFAIK the Ripple network can be used in its current form for its intended purpose, however there may still be some security issues.

Completion last updated: 27/02/2018

Completion Score: +8

Open Source: Yes

Open Source Score: +20

Governance: Ripple is basically fully controlled by Ripple Labs. Because of this it is a single point of failure therefore goes into the poorly governed category.

Treasury System: None.

Governance and Treasury score: -10

Make Sense for Blockchain: +0
Ripple isn't actually a blockchain, and it makes a reasonable amount of sense to use the system they are using for this task.

Current Development Rate: 5: very active development

Date development rate updated: 27/02/2018

Development Rate Score: +10

Risk of security breach: There is a risk of a denial of service type attack due to centralization of nodes. As far as I am aware there is no major network breaking vulnerability that has been identified. With a coin of this size and value if someone could easily attack it they would have done so by now.

Security Score: -5

Wallet tested and working with date: Not Tested.

Wallet Comments: Did not test a Ripple wallet as they have a 20 xrp minimum. I did read some articles and watch 2 youtube videos and have no reason to believe there are any significant issues with the availability of decent Ripple wallets.

There are hardware wallets available for Ripple.

Wallet Score: +5

Real World Usage (Other than investment and speculation): I don't believe the Ripple network is currently being used for its intended purpose in any meaningful way.

Usage Score: +0

Biggest fish in the pond?: Because they are specifically targeting banks and international transactions I am going to ignore the fact that Bitcoin could probably be used for a similar thing in my opinion and give them the +10 biggest fish bonus.

Biggest fish score: +10

Our Brief Comments: I am going to subtract 10 points because even if Ripple does gain acceptance from banks they will likely use a different network to the one XRP is currently using. I think a lot of the current value if Ripple is based on banking partnerships, that are likely to never benefit holders of the XRP token.

Comments score modifier: -10

Total Score/Rating: +50

Website: https://ripple.com/

Other social media links: https://twitter.com/Ripple

Biggest Exchange: https://www.bithumb.com/

Biggest Exchange last updated: 27/02/2018


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