Ripple is a real-time gross settlement system (RTGS), currency exchange and remittance network by Ripple. Also called the Ripple Transaction Protocol (RTXP) or Ripple protocol, it is built upon a distributed open source Internet protocol, consensus ledger and native cryptocurrency called XRP (ripples). Released in 2012, Ripple purports to enable “secure, instant and nearly free global financial transactions of any size with no chargebacks.” It supports tokens representing fiat currency, cryptocurrency, commodity or any other unit of value such as frequent flier miles or mobile minutes. At its core, Ripple is based around a shared, public database or ledger, which uses a consensus process that allows for payments, exchanges and remittance in a distributed process.
The network is decentralized and can operate without Ripple (enterprise), it cannot be shut down. Among validators are companies, internet service providers, and the Massachusetts Institute of Technology.
Used by companies such as UniCredit, UBS and Santander, Ripple has been increasingly adopted by banks and payment networks as settlement infrastructure technology, with American Banker explaining that “from banks’ perspective, distributed ledgers like the Ripple system have a number of advantages over cryptocurrencies like bitcoin,” including price and security.
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The British Chambers of Commerce (BCC) is the national representative body of 52 accredited chambers of commerce across the UK, representing 92,000 businesses. Members range from growth-oriented start-ups to local and regional subsidiaries of multinational companies, in all commercial and industrial sectors, and from all over the UK. Its office is in London on Petty France, near the Ministry of Justice (former Home Office), and off Buckingham Gate (A323).
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Ripple is a real-time gross settlement system (RTGS), currency exchange and remittance network by Ripple. Also called the Ripple Transaction Protocol (RTXP) or Ripple protocol, it is built upon a distributed open source Internet protocol, consensus ledger and native cryptocurrency called XRP (ripples). Released in 2012, Ripple purports to enable “secure, instant and nearly free global financial transactions of any size with no chargebacks.” It supports tokens representing fiat currency, cryptocurrency, commodity or any other unit of value such as frequent flier miles or mobile minutes. At its core, Ripple is based around a shared, public database or ledger, which uses a consensus process that allows for payments, exchanges and remittance in a distributed process.
The network is decentralized and can operate without Ripple (enterprise), it cannot be shut down. Among validators are companies, internet service providers, and the Massachusetts Institute of Technology.
Used by companies such as UniCredit, UBS and Santander, Ripple has been increasingly adopted by banks and payment networks as settlement infrastructure technology, with American Banker explaining that “from banks’ perspective, distributed ledgers like the Ripple system have a number of advantages over cryptocurrencies like bitcoin,” including price and security.
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That is a set of for-profit companies with significant commercial activities related to bitcoins and Cryptocurrency. Common services are budget providers, bitcoin exchanges, repayment providers and capital raising. Other services include mining swimming pools, cloud mining, peer-to-peer loaning, exchange-traded money, over-the-counter trading, gaming, micropayments, affiliate marketers and prediction marketplaces.
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SwiftCoin is a cryptocurrency using peer-to-peer, blockchain, proof-of-work and encrypted mail application developed by Team Daniel Bruno since 2011. It is a propriatory alternative to Bitcoin using similar blockchain technology.
It uses 256-SHA elliptical encryption. The name SwiftCoin derives from the SWIFT banking network, but is not associated with it. Unlike Bitcoin, SwiftCoins can not be mined. SwiftCoin is brought into existence upon the redemption of interest and principal of Solidus Bonds.
In theory, the value of a SwiftCoin is a function of the caloric energy required to produce a quantity of electricity. This functionality has been patented by Daniel Bruno, CMT. The price of SwiftCoin is set by supply and demand in the open market. Currency swaps support the currency. The amount of SwiftCoin in circulation is elastic. Dynamic money supply reduces volatility.
Both SwiftCoin and Solidus Bonds are proprietary, not open source. The blockchain ledger is not public. The SwiftCin cryptocurrency wallet shows proof-of-work confirmations in real time.
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The bitcoin network is a peer-to-peer repayment network that runs on the cryptographic standard protocol. Users receive and send bitcoins, the items of money, by broadcasting digitally agreed upon communications to the network using bitcoin cryptocurrency finances software. Ventures are registered into a allocated, replicated public repository known as the blockchain, with consensus attained by a proof-of-work system called mining. The standard protocol was designed in 2008 and released in ’09 2009 as open up source software by Satoshi Nakamoto, the name or pseudonym of the initial designer/developer group.
The network requires little structure to talk about transactions. An random decentralized network of volunteers is enough. Messages are transmit on the best effort basis, and nodes can leave and rejoin the network at will. Upon reconnection, a node downloading and verifies new blocks from other nodes to complete its local backup of the blockchain.
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A blockchain – originally block chain – is a continuously growing list of records, called blocks, which are linked and secured using cryptography. Each block typically contains a hash pointer as a link to a previous block, a timestamp and transaction data. By design, blockchains are inherently resistant to modification of the data. A blockchain can serve as “an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way.” For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without the alteration of all subsequent blocks, which requires collusion of the network majority.
Blockchains are secure by design and are an example of a distributed computing system with high Byzantine fault tolerance. Decentralized consensus has therefore been achieved with a blockchain. This makes blockchains potentially suitable for the recording of events, medical records, and other records management activities, such as identity management, transaction processing, documenting provenance, or food traceability.
The first distributed blockchain was conceptualised in 2008 by an anonymous person or group known as Satoshi Nakamoto and implemented in 2009 as a core component of bitcoin where it serves as the public ledger for all transactions. The invention of the blockchain for bitcoin made it the first digital currency to solve the double spending problem without the need of a trusted authority or central server. The bitcoin design has been the inspiration for other applications.
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Bitcoin Core is the reference client of bitcoin. Initially, the software was published by Satoshi Nakamoto under the name Bitcoin, and later renamed to Bitcoin Core to distinguish it from the network. For this reason, it is also known as the Satoshi client. It is the reference implementation for bitcoin nodes, which form the bitcoin network. Through changes to Bitcoin Core, its developers make changes to the underlying bitcoin protocol. As of 2016, Bitcoin Core repositories are maintained by Wladimir J. van der Laan.
The MIT Digital Currency Initiative funds some of development of Bitcoin Core. The project also maintains the cryptography library libsecp256k1.
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The following are software client forks of the digital currency bitcoin. All are derived from the reference client, Bitcoin Core.
Bitcoin XT (Blockchain transfer)
Bitcoin Classic (Blockchain transfer)
Bitcoin Unlimited (Blockchain transfer)
Bitcoin Cash (Blockchain transfer)
Bitcoin Gold (Blockchain transfer)
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Colored coins are a class of methods for associating real world assets with addresses on the bitcoin network. Examples could be a deed for a house, stocks, bonds or futures. The technology could also be used to track and register intellectual property assets.
Through 2014/15 it was suggested that various coloured coin protocols could be of interest to banks and major financial institutions. This prediction came true in June 2015 when NASDAQ announced they were developing a system in partnership with blockchain startup Chain using the Open Assets protocol developed and utilised by CoinPrism and built on by Get Hashing. In late 2015 NASDAQ announced that the first ever trade had occurred using its new platform, Linq.
There are several competing implementations of the coloured coins idea, using differing methods, including those developed by CoinSpark, Colu and several built on the EPBOC protocol.
