Krippenreiter Profile picture
Nov 12, 2022 9 tweets 11 min read Read on X
[1/9] "Don't Trust, Verify"
–Ein Spruch, der derzeit die Runde macht, nachdem Unsummen von Milliarden durch #FTX und #SBF veruntreut wurden–

5 Begrifflichkeiten, die du jetzt unbedingt verstehen musst, um Exchanges besser einschätzen zu können!
🧵👇
[2/9] 👉 "#Merkle #Tree"

• Ist ein binärer #Hash-Baum, also eine Datenstruktur in der #Kryptografie, bei der jeder Blattknoten ein Hash-Wert eines Datenblocks darstellt
• Nachträgliche Änderungen wirken sich auf die "Wurzel" aus
• Effizientes Mittel der #Datenüberprüfung My User ID: Satoshi My BTC ...Merkle Root da8fc, Merkle B...
[3/9] 👉 "#Proof of #Reserves"

• Der Beweis durch einen unabhängigen Prüfer, dass der #Exchange tatsächlich ALLE #Assets (Einlagen und Salden) besitzt, die er vorgibt zu haben
• Während des #PoR wird der "anonymisierte #Snapshot" der Salden zu einem Merkle Baum zusammengesetzt Proof of Reserves Source: h...
[4/9] • Ab diesem Zeitpunkt, wird die "Wurzel" bestimmt, also ein Fingerabdruck, der alle Salden des #Exchanges einzigartig identifiziert
• In Kombination mit den dig. #Signaturen der veröff. #Nodes und deren Gelder, können im #Audit die Reserven und #Assets nachgewiesen werden Merkle Tree Hashes Source: ...
[5/9] 👉 "#Proof of #Liability"

• Ähnlich wie beim #PoR muss auch hier mit einem #Audit (z.B. mit einem #Merkle #Tree) bewiesen werden, dass ein #Exchange die Benutzersalden (#Verbindlichkeiten) nachweisen kann, ohne persönliche Informationen preiszugeben Example Merkle Tree for PoL...
[6/9] 👉 "#Proof of #Solvency"

• Ein anderer Begriff für den Nachweis eines #Exchanges liquide und Zahlungsfähig (#Solvent) zu sein.
• Kann ein Exchange, durch ein Audit, einen PoR ablegen und diesen mit einem PoL abgleichen, kann davon ausgegangen werden, dass er solvent ist. Site solvent! 362382 surplu...
[7/9] 👉 "Not your #keys, not your #coins"

• Die vorher benannten #Proofs sind alle nahezu wertlos, aber dennoch wünschenswert, erfüllen sie doch den Zweck der #Transparenz.

Nur die #Assets, die in "#Selbstverwahrung" eurer #Wallet zugeordnet sind, gehören immer euch ‼️ THIS IS WHY I DIDN'T WANT T...
[8/9] ⚠️ Folgendes kann im #Proof of #Solvency nicht sichergestellt werden:

• Die Priv. Keys könnten längst verloren/gestohlen oder dupliziert worden sein
• Kurz vor dem Audit könnten Gelder ausgeliehen worden sein, um den Nachweis zu bestehen
• Prüfer müssten unabhängig sein Achtung WICHTIG!!! Source: ...
[9/9] Lasst euch nicht verunsichern und bleibt weiter wachsam! 🧐

Fragt euch, ob ihr nicht endlich die Verantwortung über eure Gelder selbst in die eigene Hand nehmen wollt und verwahrt eure Keys bei euch selbst!

Hardware-Wallets und Software-Wallets gibt es schließlich genug😉

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More from @krippenreiter

Jul 7
[1/🧵] What's still upcoming and in the pipeline for the XRP Ledger? 🧐

My attempt to summarize what the brilliant @aanchalmalhotre "casually" laid out in a 25-minute talk at XRPL Apex this year. 👇 Source: https://www.youtube.com/watch?v=UzbHAbBtLXQ
[2/15] — 1⃣ Key-Challenges —

Privacy and compliance are at odds with each other, and balance is key.

A lot of what the TradFi world is used to and expects still doesn't exist or is purposefully different in blockchains, like transparent transactions or low confidentiality. Source: https://www.youtube.com/watch?v=UzbHAbBtLXQ
[3/15] — 2⃣ Key-Challenges —

Institutions also expect their on-chain operations, aka transactions, to be highly customizable and controllable because of factors like internal risk management.

👉 They expect the XRPL to be programmable for their dedicated policies. Source: https://www.youtube.com/watch?v=UzbHAbBtLXQ
Read 16 tweets
Jun 30
[1/🧵] XRP Ledger ✖ Axelar ✖ XRPL EVM Sidechain ✖ Squid ‼️

With all these new integrations and partnerships, I bet you are pretty much overwhelmed by all the alien-like jargon. 🤨

A little vocabulary crash course ahead 👇 Source: https://axelarscan.io
[2/20] — 1⃣ Overview —

What just happened today is nothing less than the complete onboarding of the XRPL to the vast and entire web3 blockchain ecosystem (+ Bridging protocols and available liquidity).

👉 All via the XRPLEVM sidechain, Axelar and @squidrouter. Source: https://axelarscan.io
[3/20] — 2⃣ Overview —

What does this mean in practice? 🧐
🔸 New tokens on the XRPL DEX (bridged by @axelar)
🔸 Literal (and easy) any-to-any swaps (via Squid)
🔸 Liquidity from the entire web3 ecosystem (via CORAL)
🔸 Bridged XRP accessible on 80+ chains (through XRPLEVM) Source: @squidrouter
Read 21 tweets
May 22
[1/🧵] Bonjour 🇪🇺 and Bom dia 🇧🇷!

Two new stablecoins just launched on the XRP Ledger:
🔸 EURØP (EUR-backed by Schuman Financial)
🔸 USDB (USD-backed by Braza Group)

A quick peek behind the curtain. 👇 Source: @Krippenreiter
[2/14] — 🇪🇺 Overview —

EURØP ✖ Schuman Financial
🔸 MiCA-compliant regulated e-money token
🔸 Fully backed by €-denominated assets
🔸 Held in segregated accounts, separate from their corporate accounts
🔸 Supervised by Autorité de Contrôle Prudentiel et de Résolution (ACPR) Source: https://schuman.io/europ/
[3/14] — 🇧🇷 Overview —

USDB ✖ Braza Group
🔸 Expected to be MiCA regulated in 2025
🔸 Fully backed by $-denominated assets
🔸 Reserves held by Braza Bank Banco de Câmbio S.A.
🔸 A bank licensed and regulated by the Brazilian Central Bank Source: https://brazabank.com.br/conteudo/usdb-stablecoin-braza/
Read 15 tweets
May 10
[1/🧵] There are alot of usecases for on-chain verifiable credentials. 🧐

Most of them are far more powerful than you can imagine.

(long read ahead of you) 👇 Source: https://ec.europa.eu/digital-building-blocks/sites/display/EBSI/EBSI+Verifiable+Credentials
[2/16] — Digital ID & Authentication Council of Canada (DIACC) — Source: https://diacc.ca/wp-content/uploads/2023/05/Perspectives-on-the-Adoption-of-Verifiable-Credentials-1.pdf
[3/16] — European Blockchain Services Infrastructure (EBSI) — Source: https://ec.europa.eu/digital-building-blocks/sites/display/EBSI/Spain+plans+to+use+W3C+Verifiable+Credentials+to+protect+minors+online
Read 17 tweets
May 3
[1/🧵] There's a new site from @Satish_nl that you should definitely check out! 🧐

It's @xpert_page and from what I've seen so far, it's a mix of a "mini-CV" + donation functionality via XRPL and XAHL for your online (project-) presence. 😀

Let's take a look at what's inside 👇 Source: https://x.com/xpert_page/header_photo
[2/9] — Featured Creators —

It's all brand new, so there're only a few personal pages & project pages active right now.

Later the idea is to have a complete XRPL & XAHL-based project directory that you can browse through & donate to if you want to support the guys behind it 🔥 Source: https://xpert.page/#features
[3/9] — 1⃣ First Steps —

The moment I logged in with my gmail account and paid the simple price of 20 XRP that's valid for 5 years I had to set a profile pic, a banner and create a bio. Source: https://xpert.page/pro/profile
Read 10 tweets
Apr 8
[1/🧵] Tokenization, Ripple, Hidden Road & XRP!

A lot has happened in the last few days, and I feel like people don't really grasp the magnitude of what this means for the XRP Ledger. 🤨

Let's take a look at some numbers & address the topic from my beloved "1%" perspective. 👇 Source: @Krippenreiter
[2/16] — 1⃣ Status Quo —

The XRP Ledger as it stands now handles around ~100 transactions per ledger.

If we assume a ledger to continuously close and finalize every ~4 seconds, this brings us to ~25 TPS on average. Source: https://xrpscan.com/metrics
[3/16] — 2⃣ Status Quo —

Besides TPS, there is also TVL and $-Volume that we can measure and take a look at.

TVL:
🔸 ~52,000,000 USD

24h USD-Volume (CLOB+AMM):
🔸 ~13,000,000 USD Source: https://metrics.tequ.dev
Read 17 tweets

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