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I spent a while reading ripple protocol, specially the consensus process, the protocol works based only on a sub-network ( from a huge network) reaching a consensus for the current state, it's supposed to prevent double-spending and other attacks. There is no analysis about fork events!
First, any one can explain step by step the underlying consensus mechanism? Second, what's in the mechanism that prevents double-spending, attacks and fork events?
possible duplicate of How does Ripple solve the double-spend problem?, Is it possible to execute a double-spending attack in Ripple during a network split?, What is the exact consensus protocol Ripple uses?, Ripple Distributed Consensus Algorithm, What are the pros and cons of Ripple's consensus as compared with Bitcoin's proof-of-work?
– Murch – 2015-01-13T09:44:41.490Hi efaysal, I think that the question you are interested in probably has been answered in combination by the posts I linked too. Please check whether a question has been asked already before you create a new one. You can find more information on how Stack Exchange works in our [tour]. – Murch – 2015-01-13T09:49:46.937
Hi Murch, many thanks for the hint, indeed this combination is covering some points. The fork event point is still missing, any idea? Also I wish if one can structure the consensus protocol into one unified writing and clearly explain what's in the mechanism that prevents double-spending, attacks and fork events? Having one defined understanding of the ripple consensus will foster many interesting follow up. Bitcoin paper was really magical, in sense, handled most of important points in an acceptable concise manner. – efaysal – 2015-01-13T19:17:21.240
AFAIK, there is no such thing as a fork event in Ripple. The ledger can only advance when a majority of the validators is in agreement. You can find the Consensus Whitepaper of Ripple here: Consensus Whitepaper
– Murch – 2015-01-13T19:37:48.003Many thanks Murch. Great to have online this Consensus Whitepaper of Ripple. A good reading my help to answer my questions. – efaysal – 2015-01-14T01:15:23.233
Actually that whitepaper seems to not describe the necessary requirements of the network topology in enough detail, see: https://forum.ripple.com/viewtopic.php?f=2&t=7801#p56432
https://bitcointalk.org/index.php?topic=144471.msg1548672#msg1548672
If everybody uses the UNL in https://ripple.com/ripple.txt then it is secure, but also centralized.
@jtimon, many thanks, your links are very informative. The consensus assessment has to take into consideration the network topology and its size. Its current form has very ad-hoc settlements and it seems that to be really efficient, Ripple is more set to be a centralized system. – efaysal – 2015-01-14T19:45:35.170