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- Herausgeber: Packt Publishing
- Kategorie: Wissenschaft und neue Technologien
- Sprache: Englisch
Learn to work with XRP and build applications on Ripple's blockchain
Key Features
- Learn to use Ripple's decentralized system for transfering digital assets globally
- A simpilfied and shortened learning curve to understand the Ripple innovation and Blockchain
- Takes a hands-on approach to work with XRP – Ripple's native currency
Book Description
This book starts by giving you an understanding of the basics of blockchain and the Ripple protocol. You will then get some hands-on experience of working with XRP.
You will learn how to set up a Ripple wallet and see how seamlessly you can transfer money abroad. You will learn about different types of wallets through which you can store and transact XRP, along with the security precautions you need to take to keep your money safe.
Since Ripple is currency agnostic, it can enable the transfer of value in USD, EUR, and any other currency. You can even transfer digital assets using Ripple. You will see how you can pay an international merchant with their own native currency and how Ripple can exchange it on the ?y. Once you understand the applications of Ripple, you will learn how to create a conditionally-held escrow using the Ripple API, and how to send and cash checks.
Finally, you will also understand the common misconceptions people have about Ripple and discover the potential risks you must consider before making investment decisions.
By the end of this book, you will have a solid foundation for working with Ripple's blockchain. Using it, you will be able to solve problems caused by traditional systems in your respective industry.
What you will learn
- Understand the fundamentals of blockchain and Ripple
- Learn how to choose a Ripple wallet
- Set up a Ripple wallet to send and receive XRP
- Learn how to protect your XRP
- Understand the applications of Ripple
- Learn how to work with the Ripple API
- Learn how to build applications on check and escrow features of Ripple
Who this book is for
This book is for anyone interested in getting their hands on Ripple technology and learn where it can be used to gain competitive advantages in their respective fields. For most parts of the book, you need not have any pre-requisite knowledge. However, you need to have basic background of JavaScript to write an escrow.
Das E-Book können Sie in Legimi-Apps oder einer beliebigen App lesen, die das folgende Format unterstützen:
Seitenzahl: 123
Veröffentlichungsjahr: 2018
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Ripple Quick Start Guide
Copyright © 2018 Packt Publishing
All rights reserved. No part of this book may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, without the prior written permission of the publisher, except in the case of brief quotations embedded in critical articles or reviews.
Every effort has been made in the preparation of this book to ensure the accuracy of the information presented. However, the information contained in this book is sold without warranty, either express or implied. Neither the author, nor Packt Publishing or its dealers and distributors, will be held liable for any damages caused or alleged to have been caused directly or indirectly by this book.
Packt Publishing has endeavored to provide trademark information about all of the companies and products mentioned in this book by the appropriate use of capitals. However, Packt Publishing cannot guarantee the accuracy of this information.
Commissioning Editor: Pavan RamchandaniAcquisition Editor: Siddharth MandalContent Development Editor: Smit CarvalhoTechnical Editor: Ralph RosarioCopy Editor: Safis EditingProject Coordinator: Pragati ShuklaProofreader: Safis EditingIndexer: Rekha NairGraphics: Alishon MendonsaProduction Coordinator: Nilesh Mohite
First published: December 2018
Production reference: 1281218
Published by Packt Publishing Ltd. Livery Place 35 Livery Street Birmingham B3 2PB, UK.
ISBN 978-1-78953-219-7
www.packtpub.com
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Contributors
About the author
Febin John James is presently working on building autonomous lending and borrowing protocol on the Ethereum blockchain. He also works as a tech and marketing consultant to ICOs and blockchain-based start-ups. He has years of experience in building and scaling tech architectures from scratch. His blockchain stories on Medium have gained a lot of popularity and have been translated into multiple languages. He writes for well-known publications such as Hacker Noon and freeCodeCamp. He is also the author of the book, Cloud is a Piece of Cake. Previously, he worked as the CTO of Boutline, a sports start-up. He has also bagged devices, cash prizes, and recognition from companies such as Intel, Blackberry, and Microsoft.
About the reviewer
Iqbal Singh, known as Chief Blockchain Architect, is the CEO and founder of Immanent Solutions, a management consulting and blockchain solutions firm based in Chandigarh, India. Iqbal possesses 15 years' extensive hands-on experience in blockchain, IT, IoT, AI, automation, and the RIA industry. Iqbal has been providing business solutions for Bitcoin, Ethereum, Ripple, and R3 Corda Blockchain. Heading 30 professional teams working in data science, algorithms, and cryptography (SHA256, X11, and Script), Blockchain, ICO, Coin, ERC20, Exchange, BTC, and ETH Expert Architect.
Packt is searching for authors like you
If you're interested in becoming an author for Packt, please visit authors.packtpub.com and apply today. We have worked with thousands of developers and tech professionals, just like you, to help them share their insight with the global tech community. You can make a general application, apply for a specific hot topic that we are recruiting an author for, or submit your own idea.
Table of Contents
Title Page
Copyright and Credits
Ripple Quick Start Guide
Dedication
About Packt
Why subscribe?
Packt.com
Contributors
About the author
About the reviewer
Packt is searching for authors like you
Preface
Who this book is for
What this book covers
To get the most out of this book
Download the example code files
Conventions used
Get in touch
Reviews
Getting Started with Ripple
The need for decentralization
Introduction to blockchain
Introduction to Bitcoin
Inefficiencies in payment systems
International money transfer through Bitcoin
Disadvantages of Bitcoin
Ripple
International money transfer through Ripple
The Ripple Protocol
Account creation
Reserve
Transactions
Multisigning
Consensus
Important properties of the consensus protocol
Ledger versions
Validation
Advantages of Ripple
Currency agnostic
Simplified consensus
Low fee
Reduced foreign exchange cost
Pathfinding algorithm
Adaptable cryptography
Anti-spam mechanism
Potential risks of Ripple
Regulatory issues
Trust Issues
Security vulnerabilities
Problems of being an open protocol
Summary
Working with Ripple Currency XRP
Types of wallets
Online wallets
Desktop/mobile wallets
Offline wallets
Hardware wallets
Paper wallets
How do I choose my wallet?
Setting up a Ripple account
Activating the Ripple account
Making an international transfer
Trading XRP
Importing an existing wallet
Setting up an offline wallet
Protecting your Ripples
Don't leave your Ripples on centralized exchanges
Make backups 
Use antivirus software
Disable browser plugins
Store Ripples in multiple wallets 
For big sums, use cold wallets
Use reputable wallets
Important things you must remember
Summary
Applications of Ripple
High speed and low-cost payments 
xCurrent
How does it work?
Advanced payment applications
Cross-currency payments
How does it work?
Checks
How does it work?
Payment channels
How does it work?
Escrow
How does it work?
Initial coin offering
Decentralized exchange
Debunking misconceptions about Ripple
Ripple and XRP are not the same
Funds lockup
No mining
Limited smart contracts
Important things to remember
Summary
Getting Started with the Ripple API
Connecting to the Ripple test network
Setting up the development environment
First Ripple application
Sending money 
Prepare transaction
Sign transaction
Submit transaction
Summary
Developing Applications Using the Ripple API
Sending checks
Cashing checks
Creating a time-held escrow
Creating a conditionally-held escrow
Important things you must remember
Summary
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Leave a review - let other readers know what you think
Preface
Money has evolved over the years. In its early days, it was physical objects, eventually becoming gold. It later took the form of gold coins. Since these coins were expensive to mint, money later took the form of paper currency. The evolution of technology has given us digital currencies, though they still struggle to keep up with the pace of technology. This is because different banks have different systems that don't work effectively with each other. A lot of processes in these traditional systems are still manual. This has slowed down the movement of money between people and organizations. The security of these systems has also been proven weak on numerous occasions.
We need a system with strong interoperability and security features. In 2009, a decentralized currency called Bitcoin was invented with strong security, privacy, and autonomy features. It enables people to send money across borders without revealing their identity. The system is completely autonomous. It doesn't need any human supervision. Computers that run the Bitcoin program communicate with each other to enable global payments.
Later, Ethereum was invented. It is more than a payment network. It enables people to program money and build decentralized applications through smart contracts. Though Bitcoin and Ethereum are great innovations, they can only process a limited number of transactions per minute. The bigger problem being they don't support existing fiat currencies such as the US dollar or the euro.
Ripple provides a decentralized system that allows you to transfer anything of value. Though it issues its own currency, called XRP, it allows the transfer of fiat currencies and physical assets (as long as they can be represented digitally). It also provides a solution for banks that integrates with their traditional systems to make international transfers fast and cheap. Furthermore, it allows you to program the flow of money with its escrow, check, and payment channel features. Since it's an open system, it allows anyone anywhere in the world to build applications on top of it.
Who this book is for
This book is for beginners who want to understand and use Ripple's blockchain technology. If you are a trader who wants to work with XRP (Ripple's currency), this book will help you choose and set up a Ripple wallet and make money transfers. It will also help you to manage and protect your Ripple wallet. This book covers the basics of the blockchain, so no prior knowledge of blockchain is required. If you are an investor or a finance professional, you will gain an understanding of the applications of Ripple, which will help you gain insights into the future potential of this technology. This book also highlights common misconceptions about Ripple and its potential risks. If you are a developer, you will learn how to use the Ripple API to build applications on top of Ripple. Developers are assumed to have a basic background of JavaScript, HTML, and CSS.
What this book covers
Chapter 1, Getting Started with Ripple, In this chapter, we will start by learning the fundamentals of blockchain and cryptocurrencies. You will learn how and why blockchain was invented. We will discuss the challenges faced by early cryptocurrencies. Later, we will study how Ripple addresses those challenges. You will also learn how Ripple manages to make global payments fast and cheap, and we will look into the potential risks of Ripple.
Chapter 2, Working with the Ripple Currency XRP, In this chapter, we will take a hands-on approach to work with XRP. We will learn how to set up a Ripple wallet, and see how seamlessly you can transfer money to a friend abroad. We will discuss the different kind of wallets you can use to store XRP. We will also discuss the security precautions you need to take to keep your money safe.
Chapter 3, Applications of Ripple, In this chapter, we will understand the applications of Ripple. We will learn how Ripple's xCurrent software integrates with traditional systems to make cross-border transactions efficient. We will also learn how Ripple enables its users to make cross-currency payments. We will then study the check, escrow, and payment channel offerings of Ripple, and learn about its Initial Coin Offering and the fully functional decentralized exchange inside Ripple.
Chapter 4, Getting Started with the Ripple API, In this chapter, we will learn how to work with the Ripple API. We will set up the development environment and connect to the test network to send money from a Ripple account. We will also learn how to build web applications using the Ripple API. If you have never worked on a blockchain-based system, this chapter will give you a kickstart.
Chapter 5, Developing Applications Using the Ripple API, In this chapter, you will learn how to use advanced offerings of Ripple, such as checks and escrows. You will learn how to send checks, cash checks, and create and release escrows. We will also integrate the Ripple API to build web applications. These applications will allow non-developers to easily use the check and escrow features of Ripple.
To get the most out of this book
If you are a developer who wants to build applications on top of Ripple, you need to have basic knowledge of HTML, CSS, and JavaScript.
Download the example code files
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The code bundle for the book is also hosted on GitHub at https://github.com/PacktPublishing/Ripple-Quick-Start-Guide. In case there's an update to the code, it will be updated on the existing GitHub repository.
We also have other code bundles from our rich catalog of books and videos available at https://github.com/PacktPublishing/. Check them out!
Conventions used
There are a number of text conventions used throughout this book.
CodeInText: Indicates code words in text, database table names, folder names, filenames, file extensions, pathnames, dummy URLs, user input, and Twitter handles. Here is an example:
