Ripple

Ripple’s solution is built around a network that requires no central operator,resulting in instant transaction verification and settlement certainty. It offers a cryptographically secure end-to-end payment flow with transaction immutability and information redundancy.

Ripple is a universal protocol founded in 2012 to power the cheapest and fastest payment system for value transfer. Ripple’s technology enables users to transfer funds (including fiat currencies,digital currencies and other forms of value) across national boundaries as seamlessly as sending an email.

In this work,we present a novel consensus algorithm that circumvents this requirement by utilizing collectively-trusted subnetworks within the larger network. We show that the “trust” required of these subnetworks is in fact minimal and can be further reduced with principled choice of the member nodes.