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by bpicolo
3192 days ago
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> require complete trust between parties Doesn't it just require trust of a single party for settlements (or any number of independent settlements parties)? Which you still sort of require in the ripple model because ripple owns a crap ton of it's own coinage (60% of the pot). |
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If you're talking about two banks... There are thousands of banks out there all with varying levels of trust, and those banks all need to transfer funds between each other on a daily basis. Most banks only have direct relationships with a handful of other banks.
> Which you still sort of require in the ripple model because ripple owns a crap ton of it's own coinage (60% of the pot).
Yes, they own 60% of XRP available, but if you're settling a transfer between USD/EUR then you only need to trust ripple for the length of time for that settlement to happen.