The Dash Network is set to fund the creation of two separate Ripple gateways, one on GateHub and one open-source.
The Ripple Consensus Ledger is a cryptocurrency network that allows for the rapid and seamless exchange of currencies across the network via gateways. These new proposals would integrate Dash, one into the GateHub major gateway, and the other open source. According to Andriy Khavryuchenko, project lead for the open source gateway, both proposals work well in tandem:
“That’s why both Ripple proposals are important: GateHub integration could bring liquidity, open source gateways may create a wide selection of gateways, reaching obscure corners.”
Ripple gateways will allow for seamless Dash transfers through gateways
Integrating Dash into Ripple gateways will allow Dash to be seamlessly exchanged for other cryptocurrencies, as well as fiat currencies. Additionally, it would allow Dash to be an intermediary in an exchange between two separate currencies in cases where that would be the most efficient method of transfer. Khavryuchenko explains how this would work:
“Having Ripple gateways would allow Dash to participate in growing fiat integration projects, without end users even realizing it.
For example, user may do an UAH payment to a Chinese supplier. And supplier would get paid in CNY. Ripple payment routing would find the cheapest path to make it, and if there are UAH<->DASH and CNY<->DASH gateways, the payment would be finally settled in local currencies and Dash.
The best thing, however, is that gateway operators and liquidity providers don’t have to know or even care about each other: everyone would benefit, earning their commissions.
And, for commissions to be low enough, there should be enough liquidity.”
Dash’s welcoming community and masternode system attract collaborators and investors
Cryptocurrency in general, provides an attractive lure for those who have been burned by the old financial system, and Dash in particular, because of the masternode system, offers better investment opportunities. This led Khavryuchenko to investigate Dash.
“I was sold on crypto when our company was hit by Cyprus crisis in 2013 right at the moment when we wired developers’ salary to a Bank of Cyprus account.
After buying some Bitcoins and doing some early work on Ripple projects, I was seeking some kind of passive income and found Dash masternodes. Quite soon after this, I’ve read a “seek for developers” post by [Dash Core team member Tungfa] and since then was checking what I can do as a developer.”
In a world of cryptocurrency that can be rife with trolling and discord, Dash presented to Khavryuchenko a welcoming alternative, much more suited to collaboration.
“Since 2014 I’ve found that dash community is much more open, friendly, and focused on getting stuff done, instead of now-usual holy wars.
And this spring price increase gave me resources to reorganize my life and contribute back to the Dash system.”
But.. But… But…
“I’ve not yet read the pegged sidechain white paper, but I doubt they can be used to implement a ripple network as I’ve first saw it mid-2013.
It was no counterparty protocol, colored coins were in infancy and Ripple allows me immediately start a semiclosed network backed only by peer trust.
It works for me right now. And will be until protocol will require to couple each address with a government issued ID. At which point I’ll silently fork the code.
It’s unlikely that I’ll move to something like counterparty because current ripple implementation allows me very cheap transactions with very fast (seconds) settlement time”
—-Andriy Khavryuchenko
So, your point being?..
Ripple gateways will allow for seamless Dash transfers through gateways
Unless RIpple labs or the Gateways this its time to freeze or undo you transaction. “Ripple its just like the dollar only cooler because you think you have control over it”
> Unless RIpple labs or the Gateways this its time to freeze or undo you transaction
Please, point a technical mean how Ripple Labs or a gateway can undo a transaction that’s committed to a ripple blockchain.
> No problem with ripple if you somehow where able to pull out…
How Ripple is related to my story with Bank of Cyprus?
Andriy aren’t you the person that will build the opensoure code and aml/kyc free ripple gateway ? If so you seem like a (very) good programmer.
Trying to deceive people is not nice, I don’t know if your autistic or something. But it’s not very nice to play the game the way you are. Yes you probably know allot better how to code these things than me, but that does not give you the right to try and twist the argument, you and I both know, that ripple is not some magic crypto network that makes it possible to turn all types of currency into fully decentralized currency. You know you need KYC and AML to access fiat currency such as the dollar, and the euro. You also know that if you transport crypto-currency from one place to the next you’ll still need access to the privacy key to sent does funds to another public key.
If it would be true, Ripple is the only and only and only network we would ever need because it can simply transporant and all forms of currency via it’s transport layer and all of that without AML/KYC
Seriously dude what game are you playing here ?
> Andriy aren’t you the person that will build the opensoure code and aml/kyc free ripple gateway ?
Yes, I am.
> If so you seem like a (very) good programmer.
I don’t consider myself a good programmer. Anyway, it’s not for me to judge.
> You know you need KYC and AML to access fiat currency such as the dollar, and the euro
No. Ever heard of such thing as “cash”?
Sorry, the rest of your post doesn’t make sense to me. Care to restate in other words?
And I’m sorry if I do offend you by my proposal to the dash budgeting system or by the code I write.
I actually voted yes 😉
So now you even claim you can transport physic cash via the ripple network. LOL
> So now you even claim you can transport physic cash via the ripple network.
No, I don’t
Cash is fungible. IOU on ripple network is transferable.
Jupp IOU, is just a trustworthy as actually currency 😉
Your bank account, plastic card, et cetera are IOU’s. Bank transfers, including, I guess, your salary or other fiat income, is IOU transfer. World economy now works on IOU’s.
So I don’t quite get what’s so funny about creating an open source gateway between IOU world and the trustworthy currency.
Or it’s just a trolling time?
That’s just it if mix IOU’s with crypto that does not turn IOU’s into crypto-currency. I don’t see how you can’t see that unless your willfully ignored to the matter.
Ok, trolling time, because you’re putting words together w/o caring if they make sense.
Good luck.
If you can’t win an argument just call some one a troll…..
Just so you know I was interested, in how well you would do this project, and maybe hire you as will if need be. But trust in a person is paramount and you have proven to me I should not trust you.
1. I’m not interested in hiring, thanks.
2. Go back to my yesterday’s reply and reread them. I have a request for you that you’ve ignored.
You just requested to be hired by dash masternodes….. What are you saying ?