Here are my questions so far.
1. Account management & centralization
I only used ripple.com, so far and I have a wallet login and within that wallet one public address, so I guess, this address is linked to my wallet account. For creating an semi-offline wallet, one suggested to use ripple.com/client, create an account there and write down the info. So it seems, I have no way to participate without using ripple.com and I'm completely dependent on ripple.com. (edit: ripple.com seems to be the interface to the "ledger/shared database similar to the blockchain" - tell me more, I don't see anything shared right now and I'd like to know how it works). If they go down, my account is lost. Or another concern: if they don't like me, they could easily lock me out. Is that correct? I know Gox could do the same, but I'm asking, to understand the underlying system.
2. The role of XRP
They weren't intended as currency-to-use at all, why do we need them and what is their role? Fees could be charged in a different way and the system "ripples" through the books anyway, so you don't need it as inter-currency.
3. Toxic IOUs
Let's say you have two or three larger networks of trustful people in which users trust each other and there are connections between those networks and the system "ripples" orders, so [person A], which belongs to [trusted network 1], which is somehow connected through trust to [trusted network 2], which is somehow connected to [trusted network 3], could get an IOU from [person B], who belongs to [trusted network 3]. What happens, if [person B] now gives trust to villain [person C], which has many many toxic IOUs which aren't backed up by anything (i.e. TF BTCs). Wouldn't that compromise all three networks? Is there a way to see, if a IOU is toxic or was issued from a legit gateway? Is there a way to prevent the system to "ripple"?
4. Trust & gateways
As it seems, gateway IOUs are the only legit source of IOUs so far. Talk about that a bit please and I'm also interested in knowing who decides that a gateway is trustful and who can become a gateway.
I'm looking forward to some answers.
1. Account management & centralization
I only used ripple.com, so far and I have a wallet login and within that wallet one public address, so I guess, this address is linked to my wallet account. For creating an semi-offline wallet, one suggested to use ripple.com/client, create an account there and write down the info. So it seems, I have no way to participate without using ripple.com and I'm completely dependent on ripple.com. (edit: ripple.com seems to be the interface to the "ledger/shared database similar to the blockchain" - tell me more, I don't see anything shared right now and I'd like to know how it works). If they go down, my account is lost. Or another concern: if they don't like me, they could easily lock me out. Is that correct? I know Gox could do the same, but I'm asking, to understand the underlying system.
2. The role of XRP
They weren't intended as currency-to-use at all, why do we need them and what is their role? Fees could be charged in a different way and the system "ripples" through the books anyway, so you don't need it as inter-currency.
3. Toxic IOUs
Let's say you have two or three larger networks of trustful people in which users trust each other and there are connections between those networks and the system "ripples" orders, so [person A], which belongs to [trusted network 1], which is somehow connected through trust to [trusted network 2], which is somehow connected to [trusted network 3], could get an IOU from [person B], who belongs to [trusted network 3]. What happens, if [person B] now gives trust to villain [person C], which has many many toxic IOUs which aren't backed up by anything (i.e. TF BTCs). Wouldn't that compromise all three networks? Is there a way to see, if a IOU is toxic or was issued from a legit gateway? Is there a way to prevent the system to "ripple"?
4. Trust & gateways
As it seems, gateway IOUs are the only legit source of IOUs so far. Talk about that a bit please and I'm also interested in knowing who decides that a gateway is trustful and who can become a gateway.
I'm looking forward to some answers.