Ripple: Overview and outlook

Frederik Armknecht, Ghassan O. Karame, Avikarsha Mandal, Franck Youssef, Erik Zenner

Research output: Chapter in Book/Report/Conference proceedingConference contribution

41 Citations (Scopus)

Abstract

Ripple is a payment system and a digital currency which evolved completely independently of Bitcoin. Although Ripple holds the second highest market cap after Bitcoin, there are surprisingly no studies which analyze the provisions of Ripple. In this paper, we study the current deployment of the Ripple payment system. For that purpose, we overview the Ripple protocol and outline its security and privacy provisions in relation to the Bitcoin system. We also discuss the consensus protocol of Ripple. Contrary to the statement of the Ripple designers, we show that the current choice of parameters does not prevent the occurrence of forks in the system. To remedy this problem, we give a necessary and sufficient condition to prevent any fork in the system. Finally, we analyze the current usage patterns and trade dynamics in Ripple by extracting information from the Ripple global ledger. As far as we are aware, this is the first contribution which sheds light on the current deployment of the Ripple system.

Original languageEnglish
Title of host publicationTrust and Trustworthy Computing - 8th International Conference, TRUST 2015, Proceedings
PublisherSpringer Verlag
Pages163-180
Number of pages18
Volume9229
ISBN (Print)9783319228457
DOIs
Publication statusPublished - 2015
Event8th International Conference on Trust and Trustworthy Computing, TRUST 2015 - Heraklion, Greece
Duration: 24 Aug 201526 Aug 2015

Publication series

NameLecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)
Volume9229
ISSN (Print)0302-9743
ISSN (Electronic)1611-3349

Other

Other8th International Conference on Trust and Trustworthy Computing, TRUST 2015
CountryGreece
CityHeraklion
Period24/08/1526/08/15

Keywords

  • Bitcoin
  • Forks
  • Ripple
  • Security

Fingerprint Dive into the research topics of 'Ripple: Overview and outlook'. Together they form a unique fingerprint.

  • Cite this

    Armknecht, F., Karame, G. O., Mandal, A., Youssef, F., & Zenner, E. (2015). Ripple: Overview and outlook. In Trust and Trustworthy Computing - 8th International Conference, TRUST 2015, Proceedings (Vol. 9229, pp. 163-180). (Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics); Vol. 9229). Springer Verlag. https://doi.org/10.1007/978-3-319-22846-4_10