Ripple Labs CTO Stefan Thomas and software engineer Evan Schwartz present Codius.
As part of an ongoing initiative to better educate the broader community about Ripple technology, behind the scenes developments, as well as our take on the industry at large, Ripple Labs will be releasing a series a tech talks, the first of which is an introduction to Codius.
The tech talk was presented by CTO Stefan Thomas and software engineer Evan Schwartz to a full house on November 20, 2014 at Around the World in 5 Seconds, a special night of demos and celebration at Ripple Labs headquarters in downtown San Francisco.
Codius is a platform developed by Ripple Labs that enables smart contracts technology. But from a broader perspective, it’s a framework for developing distributed applications, what we call “smart programs.” In this tech talk, you’ll learn about:
https://kinematec.de/wp-content/uploads/2014/11/codius11.jpg463960christianhttps://kinematec.de/wp-content/uploads/2019/10/kinematec_logo.pngchristian2014-11-26 08:57:092015-01-12 07:34:15Ripple Labs Tech Talk: An Introduction to Codius
Nearly 300 Ripple enthusiasts attended Around the World in 5 Seconds.
Despite pouring rain, nearly three hundred guests attended Around the World in 5 Seconds, a special night of demos and celebration at the Ripple Labs office in downtown San Francisco, an event meant to engage the local community and share our vision of Ripple’s potential.
Attendees ranged from engineers, product managers, and senior executives from companies like Salesforce, JPMorgan Chase, Google, Ebay, Deloitte, Bloomberg, Microsoft, Wells Fargo, and Citi Ventures.
Signing in.
A series of product demos provided developers, investors, and industry leaders a tangible, hands-on experience for understanding how the Ripple protocol facilitates faster, cheaper, and more frictionless global payments than ever before.
Learning about the intricacies of real-time settlement and the internet-of-value.
One demo station was manned by Marco Montes, who you might recognize from the newly re-designed Ripple.com homepage. Marco is the founder and CEO of Saldo.mx, a novel remittance service that allows US customers to pay bills back in Mexico using the Ripple protocol.
Ripple Labs CTO Stefan Thomas and software engineer Evan Schwartz delivered two back-to-back tech talks on Codius, an ecosystem for developing distributed applications that utilizes smart contracts, to two jam-packed and enthusiastic crowds.
Stefan and Evan explain Codius.
The presentation represents the first of a series of talks as part of our mission to better educate the broader community about Ripple technology, behind the scenes developments, as well as our take on the industry at large. (We’ll be uploading a video recording of the talk soon in case you missed it.)
A warm thank you to all those who weathered the storm and helped make this inaugural event a resounding success. It surely won’t be the last so we look forward to seeing you at the next one, along with those who weren’t able to make it out this time.
https://kinematec.de/wp-content/uploads/2014/11/topphoto1.jpg533960christianhttps://kinematec.de/wp-content/uploads/2019/10/kinematec_logo.pngchristian2014-11-25 05:29:302015-01-12 08:33:45Event Recap: Around the World in 5 Seconds
The Ripple Labs employee spotlight is on Howard Hinnant this week, who is in Bellevue, Washington for cppcon, the inaugural conference for all things C++.
Howard has been a prolific and long-time contributor to the C++ community as lead author of several C++11 features including move semantics, unique_ptr, and <chrono> API and has authored over 30 C++ committee papers.
During his time at Apple he developed libc++, an open source implementation of the C++11 standard library, which the iPhone maker continues to use. He is also a Library Working Group Chair Emeritus at the Standard C++ Foundation.
Today, as a senior engineer within the 11-person rippled team, Howard is channeling his self-taught expertise to help build the core protocols that will power what we see as the birth of the value web.
rippled is the core, peer-to-peer server component of the Ripple protocol (which already includes a number of C++14 features). It essentially is Ripple—by facilitating the processes that manage and validate transactions.
Moving forward, the team’s priorities are stability, performance, security, and scalability—while introducing new features like m-of-n multisign, additional cryptographic curves, and autobridging, according to rippled project manager Yana Novikova.
At cppcon, the former aerospace engineer will be presenting his latest paper, Types Don’t Know # (N3980). Before Howard left, I sat down with him and Vinnie Falco, team lead of rippled, for a brief fireside chat.
Ripple Labs: So what’s up with cppcon?
Howard: This is the first year so it’s kind of an experiment, but I suspect it will be a success. It has the support of the leading professionals in the industry.
Vinnie: Cppcon is a very technical conference that focuses on the development and growth of the language itself. So a lot of the discussions and presentations will surround the technical aspects of the language and could very well be precursors to new features.
Ripple Labs: What will you be doing at the conference?
Howard: My contribution at this conference is going to be talking about the work we have been doing and implementing in rippled, mainly the parts that concern how to hash things and putting items into unordered containers.
I’ve written a proposal for it, which I’ll be presenting. It hasn’t been accepted yet by the committee, but it’s under consideration at this time. This proposed implementation allows people to easily switch among different hash algorithms.
Vinnie: N3980 addresses a long-standing shortcoming in the hash functions for unordered containers, which can result in suboptimal performance when using a standard library. It basically allows programmers to easily choose between different hash functions such as Murmur, SipHash, SpookyHash, and FNV without changing every call site.
Howard: Now developers have a choice of hash functions without having to rewrite everything. You write the hashing infrastructure once, and with very little effort, you can switch between different algorithms, which wasn’t previously possible.
Vinnie: It’s very relevant to decentralized programs. The result of Howard’s work benefits anyone developing peer-to-peer software.
Howard: It has very wide applications because the hash containers are extremely widely used. You name it, people are hashing things. It’s quite a basic utility.
Vinnie: When it comes to digital finance, hash functions are crucial, along with the performance of these programs. Bitcoin, Ripple, and countless other systems use them.
Ripple Labs: What does it take for a proposal to get accepted by the committee?
Vinnie: Howard has had work accepted in the past, but it’s obviously not a walk in the park. This is serious, very theoretical work—and it needs to improve the language. It’s work so incredibly technical that very few people are even qualified to analyze it.
Having something approved that goes into the language—it can take years, maybe a decade. It’s a very small club.
Ripple Labs: So Howard, how did you get so good at C++?
Howard: I was self-taught. I’ve always been interested in programming, but I had only taken a couple courses in Fortran and assembly. I started collecting languages on my own. I taught myself C, Pascal, and Postscript.
Eventually, I picked up C++ and decided I really liked it, better than the other languages that I learned so I kept teaching myself about it.
Ripple Labs: What was so attractive about C++?
Howard: For me, I really like how you can program at a high level and in the same language, program at a low level. C++ offers complete control. It doesn’t require low level languages like C or assembly but still has high level facilities. It allows you to do everything.
Ripple Labs: OK, last question. What’s your favorite C++ feature?
Howard: The destructor. It’s the most elegant form of garbage collection I’ve ever seen.
https://kinematec.de/wp-content/uploads/2019/10/kinematec_logo.png00christianhttps://kinematec.de/wp-content/uploads/2019/10/kinematec_logo.pngchristian2014-11-08 04:31:532015-01-12 08:34:16Powering Ripple and Helping Take C++ to the Next Level
Ripple Labs EVP of Business Development Patrick Griffin at Sibos 2013 in Dubai
Ripple Labs will be in Boston at the end of the month for Sibos (Sept. 29 – Oct. 2), the annual financial services conference hosted by SWIFT, where 7000 industry members and thought leaders will gather to contemplate and help shape the future of payments and trade.
Running concurrently throughout the conference is Innotribe program, a SWIFT initiative focused on innovation at the convergence of finance and technology—of which Ripple will play a prominent part. (Check out our interview with Kosta Peric, Innotribe co-founder and former Head of Innovation of SWIFT.)
Ripple Labs CEO and co-founder Chris Larsen will be presenting at the following sessions on Monday, September 29th:
Future of Money: The Rise of Cryptocurrencies (9:30AM ET)
Disruption: Cryptocurrencies (12:30PM ET)
If you’re interested in learning how Ripple is driving down cross-border transaction costs for banks like Fidor, please contact us at to schedule a meeting with a Ripple Labs representative.
To help accelerate the creation of strong, reliable, and compliant gateways, Ripple Labs will be providing XRP incentives and extended technical support for gateways that meet criteria considered to be critical for the success of a gateway.
Ripple Labs wants every gateway to achieve a gold standard in business planning, technical reliability and stability, regulatory compliance, and liquidity. The Ripple protocol enables the federation and interoperability of many independent payment systems.
As such, we’re actively developing the specifications for Gateway Services APIs and are eager to help gateways with implementation. In the meantime, here are some of the steps and assistance provided by Ripple Labs to help get your gateway to that point.
Gateway business plan development
Successful businesses start with a concept that can be concisely summarized and executed upon. To get things started on the right foot, here is a business plan template for gateways that is freely available. This plan was developed in consultation with new gateways that were exploring the business opportunities on Ripple, so it’s tailored to the needs of an early stage operator.
The template encourages you to carefully consider who your customer is and what value they’ll derive from your service. Simplifying their experience and making the deposit and withdrawal of assets frictionless is critical to driving volume and subsequent revenue.
Serious endeavors should contact Ripple Labs at to coordinate for possible assistance and business planning.
Gatewayd support
Gatewayd has been designed to make deploying a gateway as easy as possible.
It provides the basic functionality to link assets represented in the Ripple network to those held in the outside world. It includes a core database to track deposits and withdrawals and utilizes Ripple REST to issue assets to customer wallets.
Gatewayd plugins
If your gateway needs a custom deposit/withdrawal plugin for an external payment system (such as PayPal, AliPay, etc.), Ripple Labs may consider funding a bounty to create that plugin or build it for you. Plugins are custom pieces of code that are used to monitor and submit transactions to and from external payment systems so that gatewayd can take appropriate action. You can see examples of these kinds of plugins in the repos under gatewayd on GitHub.
Services implementation
Gateway Services APIs make gateways interoperable and provide straightforward calls that clients can use to route payments appropriately. Gateway Services rely on existing web standards like host-meta and webfinger, while making certain functions of the REST API more robust. Please contact us for assistance if you decide to implement these services at your gateway.
XRP for customers of KYC/AML compliant gateways
Ripple Labs may assist with customer acquisition by providing gateways with XRP that can be used for giveaways. Customers who provide a baseline level of KYC information may be eligible to receive up to 2,000 XRP upon registration and making a deposit at your gateway.
Compliance resources
Ripple Labs regularly issues Gateway Bulletins as new features are released or on topics related to compliance and risk. Those bulletins are shared with the developer community including gateway operators and IRBA members. In addition to Gateway Bulletins, Ripple Labs publishes Compliance Resources that may be helpful for gateway operators in understanding local and global standards on KYC/AML policies, as well as opinions or guidance on virtual currency.
Since rules on KYC/AML policies and guidance on virtual currency vary by jurisdiction, gateways should obtain legal advice on how these rules apply to their business and country of operation. Be aware that regulatory standards are evolving rapidly. While Ripple Labs makes every effort to update the Gateway Bulletins and Compliance Resources regularly, gateways should seek legal advice and understand changes to regulation as it may vary based on geography and the products that you offer.
Generating liquidity
Ripple Labs understands that it may be difficult for new gateways to generate the liquidity needed to provide a compelling service to their customers. To do so, it is important to meet the aforementioned technical and compliance standards to have a popular, well-capitalized gateway. Transaction volume drives liquidity so Ripple Labs may facilitate introductions for operational gateways to market makers who can enable assets issued by your gateway to trade freely at competitive exchange rates.
Feedback is welcome
The Ripple protocol’s success will be largely determined by the ecosystem of gateways that are providing the onramps and off-ramps for value. As such, Ripple Labs continues to support gateway developers and entrepreneurs in their projects to build gateways.
We’d love to hear your feedback on what’s most useful and other tools that you’d like to see. We look forward to working alongside you to build the value web!
Ripple Labs is thrilled to have signed its first two U.S. banks to use the Ripple protocol for real-time, cross-border payments.
Cross River Bank, an independent transaction bank based in New Jersey, and CBW Bank, a century-old institution founded in Kansas, join Fidor Bank on the Ripple network, which continues to grow.
Both banks are excited to leverage the technology in order to provide greater efficiency and innovation to their customers.
“Our business customers expect banking to move at the speed of the Web, but with the security and confidence of the traditional financial system,” said Gilles Gade, president and CEO of Cross River Bank.
“Ripple will help make that a reality, enabling our customers to instantly transfer funds internationally while meeting all compliance requirements and payments rules. We are excited to be amongst the very first banks in the U.S. to deploy Ripple as a faster, more affordable and compliant payment rail for our customers.”
“Today’s banks offer the equivalent of 300-year-old paper ledgers converted to an electronic form – a digital skin on an antiquated transaction process,” said Suresh Ramamurthi, chairman and CTO of CBW Bank.
“Ripple addresses the structural problem of payments as IP-based settlement infrastructure that powers the exchange of any types of value. We’ll now be one of the first banks in the world to offer customers a reliable, compliant, safe and secure way to instantly send and receive money internationally. As part of our integration with Ripple, we are rolling out Yantra’s cross-border, transaction-specific compliance, risk-scoring, monitoring and risk management system.”
But these new partnerships aren’t just great for Cross River Bank and CBW Bank customers, it’s great for everyone in the U.S. and Europe by essentially opening up a corridor between ACH and SEPA. Any U.S. bank can now use Cross River or CBW Bank as a correspondent to move funds in real-time to any other institution in Europe via Germany-based Fidor.
The deals will also help expand liquidity and trade volume on the protocol and generally improve the network effects of the system—which will continue to make Ripple more attractive for both market makers and developers.
Ultimately, this announcement is the culmination of many months of hard work and further validation for the Ripple Labs vision. The most exciting part? This is only just the beginning.
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Ripple Labs has issued a Gateway Bulletin on the Partial Payment flag which describes the flag and best practices around balancing activity on and off the ledger. The tfPartialPayment flag is set by the sender to specify a payment where the beneficiary can receive less than the specified amount.
Gateways are encouraged to implement best practices and understand the Partial Payment flag to mitigate errors that can result in fraud if undetected.
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Codius was developed by Ripple Labs, which also created its own digital currency called Ripple. Codius aims to be interoperable between a variety of cryptocurrency, such as Ripple and bitcoin, although it is managed by the private company. “Codius can interact with other ledgers and web services. It can work on bitcoin and it can work on any other system,” says Stefan Thomas, Ripple’s CTO…
Two U.S. banks, New Jersey-based Cross River Bank and Kansas-based CBW Bank, are set to announce their use of the Ripple currency protocol, which would allow instant and free cross-border payments on the network…
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Payment network Ripple Labs just snagged is to U.S. banks closer to its goal of frictionless payments worldwide. CBW Bank and Cross River Bank, based in Kansas and New Jersey respectively, will be using Ripple to making global money transfers and payments…
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