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Videos: Ripple’s Consensus Process & Real-Time Cross-Border Transactions

Ripple Videos

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While checking out Ripple’s Github account and poking around the Rippled code, I found a link to an unlisted video posted by Ripple in 2013. The last comment on this video was “I still don’t understand it.” Take a look at all of the comments on this video. You will see just how far the Ripple community has come. The vast majority of the comments on the first page are negative. It seems like the other videos on Ripple are not open to public comments. I wonder if these older videos with negative comments shut down that public dialogue.

I’ve embedded that video below:

After watching this video, I still don’t completely understand the consensus process. I checked the main Ripple YoutTube channel to see if they had other videos I could check out. Here’s one on real-time cross-border transactions from about a year ago:

 

After watching the video above, I still don’t understand the entire process. Did one bank send XRP to the other bank? Is XRP involved at all, and if yes how? I would love to see a comprehensive video on the entire transaction chain including all XRP and fiat transfers and conversions. I checked if they had other videos that would be informative. I found this one on How Ripple Works – xCurrent.

This video makes sense and I would recommend checking it out to gain insight into the process. xCurrent starts with getting all of the fees from all of the banks and financial institutions involved with the transaction. As illustrated in this video, there are still nostro accounts and liquidity providers in the transaction chain. XRP isn’t even mentioned in this video. Seeing the nostro acccounts and the liquidity provider in the chain made a whole lot of sense to me.

If your goal is to understand Ripple’s solutions, their videos fall short. I did find a detailed PDF on xCurrent which I bookmarked to read later, but I couldn’t find similar documentation for xRapid or xVia. I’m hoping at some point Ripple or someone else who gets the process will create easy to understand videos about how exactly Ripple’s services work.



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