• Twitter
  • Bitcointalk
  • Telegram
  • Email


Ripple Cash

1. Introduction

There are more than thousand registered cryptocurrencies, according to CoinMarketCap. Cryptocurrency has come a long way since the Bitcoin in 2009.

Many of them had gone inactive in development, some in a really slow phase, and a handful doing really well in terms of development. Do we really need so many cryptocurrencies in this world we live in? It is foreseeable, more than 60% of those 1300 cryptocurrencies would not be used in the world in future, and at the same time, the number of cryptocurrencies will grow massively in the next 10 years. Cryptocurrency has a very huge potential for now, and it has the ability to change the world in terms of banking, payment and probably more that we cannot imagine as of yet. However, the real issue is that most of the projects do not have real life implementations and are existing with the sole motive of qualifying as a wealth creation commodity. We need cryptocurrencies with clear intentions of penetrating into the industry and be used by one and all. And that is why, more cryptocurrencies with wonderful developers and clear goals will come out in the near future with many more wonderful ideas. However, only few of those genuine projects would survive and make an impact.


2. Ambition

By creating Ripple Cash, we hope that, we'll be able to bring blockchain technology to the public easily. Instead of developing complicated hashing algorithms and coming out with many complicated functions that public who does not have high level of IT background can understand, Ripple Cash is created so that, it can be implemented easily by financial institutions, shop owners, regardless of physical shop in malls, or online shopping websites, or even vendors in Ebay or Amazon and similar platforms, and thus, making it easier for the public to adopt Ripple Cash so long as they are willing. At the moment, not enough is done about the many cryptocurrencies in the world. In most cases, such coins or tokens are only used for trading, and most would require a mining phase. Miners who see potential in such coins, spend a huge chunk of electricity and computing powers to mine such coins. One would never know, if what they are mining now, can ever make it in the world as a game changer. 


3. What is Ripple Cash?

Ripple Cash is a smart contract token created on the Ethereum network. This means that, Ripple Cash will leverage on the blockchain of Ethereum. Thus, every transaction made using Ripple Cash can be found on the block explorer of Ethereum. By doing so, it also means that transactions can be approved and confirmed at a very fast speed and it'll be secure as it'll be verified by the countless of Ethereum nodes all around the world. As Ripple Cash will be leveraging on Ethereum's network, there wouldn't be a need to create a blockchain just for Ripple Cash, and also needless to create nodes to ensure the speed of transaction.


4. Wallet's

Users will need to create and adopt Ethereum wallet first, before being able to use our token. After doing so, by adding contract address of Ripple Cash in the wallet, users will be able to receive and send out Ripple Cash. Because of many wonderful developers in Ethereum, most of these procedures can be completed easily and securely.


5. Ripple Cash features

Blockchain is one of the most promising new technologies for the future. It is this distributed ledger technology that underlies and powers Ripple Cash. Providing a new way to record and transfer data. It is transparent, safe, audit-able, and resistant to outages.

Ripple Cash transfer feature ensures that your money is flawlessly sent or received in a secure, reliable manner. Unlike Bitcoin, transactions with Ripple Cash are fast. You will not to have to wait several minutes. You can send Ripple Cash anywhere in the planet instantly and have it confirmed as spendable within 30 seconds.

Entrusting third parties to hold cryptographic assets is a significant custodian risk to the token economy. Ripple Cash puts you in control of your assets by allowing you to hold your token directly in your own wallet.

The Ripple Cash platform is built on top of open blockchain technologies, leveraging the security and transparency that they provide. The Ripple Cash smart contract was developed as an online, peer-to-peer value transfer technology. We built Ripple Cash to harness the same power of blockchain as a globally accessible, friction-free value network, supporting private and secure exchange between peers.

An important aspect for a cryptocurrency is scalability, meaning finding solutions for the blockchain to scale well enough for mass adoption. Everything will be tokenized and connected by a blockchain one day. At the moment, Ethereum can handle about 13 transaction per second. If current efforts are well executed, Ripple Cash could be ready for a 10 millions user app by the end of 2019.

Ripple Cash is an open source smart contract developed by and for the user community. Open source projects provide tremendous opportunities for developers to share and learn through collaboration. Contributions are not limited to code, as Ripple Cash project need a diverse range of skills. Driving innovation requires optimizing how a company creates, deploys and uses software assets.


6. Main technology

The concept of decentralized digital currency, as well as alternative applications like property registries, has been around for decades. In 2009, Bitcoin a decentralized currency was for the first implemented in practice by Satoshi Nakamoto, combining established primitives for managing ownership through public key cryptography with a consensus algorithm for keeping track of who owns coins, known as "proof of work“. Since then, alternative approach has been proposed called proof of stake, calculating the weight of a node as being proportional to its currency holdings and not its computational resources. The discussion concerning the relative merits of the two approaches is beyond the scope of this paper but it should be noted that both approaches can be used to serve as the backbone of a cryptocurrency.


7. The Ethereum blockchain

Ripple Cash token is based on the Ethereum blockchain technology. The intent of Ethereum is to create an alternative protocol for building decentralized applications, providing a different set of trade-offs that will be very useful for a large class of decentralized applications, with particular emphasis on situations where rapid development time, security for small and rarely used applications, and the ability of different applications to very efficiently interact, are important. Ethereum does this by building what is essentially the ultimate abstract foundational layer - a blockchain with a built-in Turing-complete programming language, allowing anyone to write smart contract and decentralized applications, where they can create their own arbitrary rules for ownership, transaction formats and state transition functions. A bare-bones version of Namecoin can be written in two lines of code, and other protocols like currencies and reputation systems can be built in under twenty. Smart contracts, cryptographic boxes that contain value and only unlock in if certain conditions are met, can also be built on top of the platform, with vastly more power than that offered by Bitcoin scriptomg because of the added powers of Turing-completeness, value-awareness, blockchain-awareness and state.


8. The token system

In general, there are three types of applications on top of Ethereum. The first category is financial applications, providing users with more powerful ways of managing and entering into contracts using their money. This includes sub-currencies, financial derivatives, hedging contracts, savings wallets, wills, and ultimately even some classes of full-scale employment contracts. The second category is semi-financial applications, where money is involved but there is also a heavy non-monetary side to what is being done; a perfect example is self-enforcing bounties for solutions to computational problems. Finally, there are applications such as online voting and decentralized governance that are not financial at all.

On-blockchain token systems have many applications ranging from sub-currencies representing assets such as USD or gold to company stocks, individual tokens representing smart property, secure unforgeable coupons, and even token systems with no ties to conventional value at all, used as point systems for incentivization. Token systems are surprisingly easy to implement in Ethereum. The key point to understand is that a currency or token system, is just a database with one operation: subtract X units from A and give X units to B, with the provison that A had at least X units before the transaction and the transaction is approved by A. All that it takes to implement a token system is to implement this logic into a contract.

This is essentially a literal implementation of the "banking system“ state transition function described further above is this document. A few extra lines of code need to be added to provide

for initial step of distributing the currency units in the first place and a few other edge cases, and ideally a function would be added to let other contacts query for the balance of an address. But that's all there is to it. Theoretically, Ethereum-based token systems acting as sub-currencies can potentially include another important feature that on-chain Bitcoin-based meta-currencies lack - the ability to pay transaction fees directly in that currency. The way this would be implemented is that the contact would maintain an ether balance by collecting the internal currency units that it takes in fees and reselling them in a constant running auction. Users would thus need to ''activate'' their accounts with ether, but once the ether is there it would be reusable because contract would refund it each time.


8. The token system

As Ripple Cash leverages on Ethereum's network and blockchain. It is definitely right, for transaction fees to be in Ethers.













Thus, for users to send Ripple Cash, users will need to have a small amount of Ether in their wallet. These are called "Gas". For most transactions that will take place using iEthereum, the amount of gas to be used will be very insignificant. These may change in the future, and hopefully Ripple Cash will be able to function without the need of transaction fees. After all, one of the reason Ripple Cash should be adopted is because to avoid paying for currency differences and other administrative fees.


10. "Ripple Cash" Token Main Parameters

Ripple Cash Token Decimals: 8

Ripple Cash Token Symbol: RPCH

Ripple Cash supply is limited to 100,000,000,000 units.

Ripple Cash token contract: 0x6f0a7aa19425752ff39d9f568c9d930ef30997ed

Ripple Cash token is a smart contract based on the ERC20 Ethereum Token technology.


11. How do these contracts work?

The Ethereum Virtual Machine (EVM) is where smart contracts run on the Ethereum network. The language used is much more complex and complete than that of Bitcoin. The actual language is a Turing Complete program. This can best be perceived as EVM being a worldwide computer, in which it stores every transaction ever made.

While these contracts run on the EVM, there are limits to how many resources go into a transaction. Each transaction runs through the EVM and at the same time it runs through every ETH node. What this results in is the use of gas. Ethereum contracts can track data, make expansive computations, send future calls to different contracts, and create an easy to use network for peer transactions. Each of these operations have a cost that is paid in gas. Each and every unit of gas is then paid for by the transaction wallet based on ETH/GAS price at market. This fee is then immediately deducted from the wallet of the person engaging in payment, once the block is confirmed successful.

Every transaction has a safe guard which is represented as a gas limit. This prevents programming errors from massively depleting wallets during failed transactions. Through this knowledge, the Ripple Cash team is prepared to enhance the abilities of the Ethereum network. With our developing wallet and minimal fees, Ripple Cash will rise above other ERC20 tokens as well as other currencies worldwide. Taking a look at our future wallet plans, you can see transactions will be made simple, secure, and faster than any other token to date. We aim to please the community, and make the world of payments an easier place.


12. Project Timeline

Q1 2018 and Q2 2018

  • Exploring the existing Cryptocurrency Industry.

  • Conceptualizing the Cryptocurrency for the Next Generation Payment System.

  • Initial Concept Development.

  • Project vision, team completion, consultation with key informants and core parameters development.

  • Programming the Ripple Cash Coin. Ripple Cash token code development.

  • Developing the Website.

  • Thoughtfully writing down the Whitepaper.

  • Issuing Ripple Cash tokens into the Ethereum blockchain.

  • Performing smart contract testing, launching a AirDrop campaign. Finishing up the crowdfunding campaign and distributing Ripple Cash tokens among supporters.

  • Listing Ripple Cash in at-least one Exchange

Q3 2018

  • Finishing up the spillovers from Q1 and Q2 2018 (if any).

  • Listing on exchange platforms (on as many as we can). Launching Marketing Campaigns in the entire world.

  • Launching crowdfunding campaigns (if need be).

  • Building and growing the community.

Q4 2018

  • Finishing up the spillovers from Q3 2018 (if any).

  • Listing on additional exchange platforms.

  • Updating the existing components with Blockchain technology.

Q1 2019

  • Finishing up the spillovers from Q4 2018 (if any).

  • Listing on additional exchange platforms.

  • Partnership with other blockchain projects to gain mutual exposure.

Q2 2019

  • Finishing up the spillovers from Q1 2019 (if any).

  • Listing on additional exchange platforms.

  • Partnership with other blockchain projects to gain mutual exposure.

  • Product re-testing and re-validation.

  • Public events and meet-ups. 

Q3 2019

  • Finishing up the spillovers from Q2 2019 (if any).

  • Listing on additional exchange platforms.

  • Establishing strategic partnerships with Major Brands.

  • Public events and meet-ups. 

Q4 2019

  • Finishing up the spillovers from Q3 2019 (if any).

  • Listing on additional exchange platforms.

  • Establishing strategic partnerships with additional Major Brands.

  • Beginning of early adopters program. Release of wallet & Trading application for Android and iOS.

  • Devising the roadmap for the next year.


13. Conclusion

Ripple Cash is a cryptocurrency powered by the Ethereum Network. We envision this as the next generation payment system. Ethereum is the future of the internet, with endless of possibilities. Ripple Cash have what it takes to change the future of payment, together with the future of internet, the possibility of how far Ripple Cash can go is limitless. The simplicity of Ripple Cash will also encourage more adoption compared to other cryptocurrency out there. Ultimately, Ripple Cash hopes to unite traditional businesses of the online platform, and bring everybody to this new era of cryptocurrency.


14. References

[1] Transaction fee's https://bitinfocharts.com/comparison/ethereum-transactionfees.html.

[2] Zooko's triangle http://en.wikipedia.org/wiki/Zooko's_triangle.

[3] Simplified payment verification https://en.bitcoin.it/wiki/Scalability#Simplifiedpaymentverification.

[4] Ethereum RPL https://github.com/ethereum/wiki/wiki/%5BEnglish%5D-RLP.

[5] Ethereum Merkle Patricia trees https://github.com/ethereum/wiki/wiki/%5BEnglish%5D-Patricia-Tree.

[6] Peter Todd on Merkle sum trees http://sourceforge.net/p/bitcoin/mailman/message/31709140/.

[7] StorJ and Autonomous Agents, Jeff Garzik http://garzikrants.blogspot.ca/2013/01/storj-and-bitcoin-autonomous-agents.html.

[8] Other Existing Whitepapers in the Industry