The Ripple Drop: Liquidity Explained and the Evolution of the XRP Ledger

This episode of the Ripple Drop dives into how changes are made to the XRP Ledger, a digital asset wallet app called BRD and the foundation of liquidity. Ripple CTO David Schwartz provides a look at how improvements are made to the XRP Ledger. Then Ripple VP and Head of Global Institutional Markets Breanne Madigan … Continued

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Azimo Uses On-Demand Liquidity for Faster International Payments Into the Philippines

Today, Ripple is thrilled to announce their partnership with European digital money transfer service Azimo. The company has launched with Ripple’s On-Demand Liquidity (ODL) service as part of its remittance capabilities into the Philippines, with plans to expand use of ODL across more corridors this year.  ODL leverages the digital asset XRP to bridge two … Continued

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Sentbe, Hanpass, WireBarley and More Leverage RippleNet to Improve Remittances in Korea

For the millions of remitters in South Korea, speed and cost matters—time delay in payments can interfere with covering critical expenses like emergencies, tuition payments and unexpected bills. However, for many years, the remittance market in Korea was controlled entirely by large financial institutions—leading to high foreign transfer fees and costly delays. Rule changes introduced … Continued

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Provable Solvency Report #71 – February2020

Coinfloor is a custodian of client bitcoins and we believe that we must set the industry standard for transparency and regular audits. Without proper public accountability, the industry will not be able to grow and mature. This is why we are committed to releasing a
Provable Solvency Report every month. Coinfloor is proud to have the longest standing track record among bitcoin exchanges in regards to auditing.

Today we are publishing our 71th monthly Provable Solvency Report with step-by-step
validation instructions for your convenience.

As of today, Coinfloor holds a total of
3,682.9458 XBT on behalf of our clients. You are invited to verify that your held bitcoins are included in this balance by following the instructions below.

What does the Provable Solvency Report include?

We started out by creating an obfuscated report of all current client balances (the Solvency Report) and then generated a
SHA-256 hash of this report.

We then created a bitcoin transaction to ourselves, that includes all currently held client bitcoins, for a value of
3,683.4739. XBT. The output of the script also includes the
OP_RETURN of the SHA-256 hash of the report, proving that at the time of making the solvency report, Coinfloor held all of our clients’ XBT funds. You can
verify the amount and details of the transaction on the blockchain.

Key Pieces of information:


Provable Solvency Report #71 (February 17th, 2020):

https://s3-eu-west-1.amazonaws.com/provablesolvency/+solvency_20200217.txt

SHA-256 Hash of the Provable Solvency Report: 8AB00AB9181600EC44FA6972B267337F218D1D5E10CFBB091F31B9CFB6E7F802

Transaction ID: 8ea4cdd4a9759846c1ed7a4ba99fdd280b4ca9c69c7d3a298909549df8b12548

View the transaction here:

https://explorer.bitcoin.com/btc/tx/8ea4cdd4a9759846c1ed7a4ba99fdd280b4ca9c69c7d3a298909549df8b12548

Your API authentication cookie:

You will find it in My Account > Dashboard in the Coinfloor signed in view, in the API section (visible only for fully verified accounts).

Instructions for Validating Solvency Report:

1. Open the Provable Solvency Report file:

https://s3-eu-west-1.amazonaws.com/provablesolvency/+solvency_20200217.txt

2. Go to

https://passwordsgenerator.net/sha256-hash-generator/ or to your SHA256sum calculating application.

Copy the entire contents of the solvency report (including any leading or trailing spaces or blank lines) into the SHA-256 generator and calculate the SHA-256 hash of the report.

3. Go to

https://explorer.bitcoin.com/btc/tx/8ea4cdd4a9759846c1ed7a4ba99fdd280b4ca9c69c7d3a298909549df8b12548

Click on the `SHOW ADVANCED` switch to view the OP_RETURN, where you will find the hash generated in the previous step matches the hash in the OP_RETURN output script of the transaction that includes all customer bitcoins.

Instructions for finding your account balance within the Solvency Report:

1. Go to

your local SHA1sum application

to calculate the SHA-1 digest of a message consisting of the timestamp shown at the top of the Solvency Report (1581935015) and your API authentication cookie.

Example (Linux):

    timestamp: 1581935015

    API authentication cookie (API Key): 9BTa7M0Z/Mrk6tFMJwEkTV3BQek=

    command: echo -n ‘15819350159BTa7M0Z/Mrk6tFMJwEkTV3BQek=’ | sha1sum

(the command may differ depending on the SHA1sum application used)

2. Find the resulting hash in the solvency report. Your balance is shown on that line in satoshi units. 1 bitcoin = 100 000 000 satoshis. For your convenience, here is a link to a bitcoin unit converter:

http://www.satoshi.24ex.com

We believe that this approach is the best way to achieve maximum accountability whilst retaining privacy for our clients. We welcome your feedback and hope that in time, other exchanges will also help safeguard client funds by providing proof of solvency reports to their users on a regular basis.

Thank you for your trust,

Coinfloor Team

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How to Tap Rapid Growth in Asia-Pacific Remittances

The Asia-Pacific (APAC) region is seeing significant growth in remittances. However, due in part to the current challenges associated with moving money between currencies, this high growth in remittances is juxtaposed against the high average cost of sending money.  In order to effectively tap the dynamic regional market that drives a volume of nearly 2 … Continued

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BRD Supports XRP and Launches Enterprise Expansion

Frustrated by a poor web wallet experience that led to his losing $1,000 worth of Bitcoin at a time when the currency hovered around $10, BRD Co-Founder Aaron Voisine set out to build a digital wallet that would be so safe and easy-to-use that even his grandmother could use it to tap into digital assets.  … Continued

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Amendments: Ensuring Sensible Evolution of the XRP Ledger

The XRP Ledger (XRPL) was designed to provide a robust feature set for the foundation of the digital asset XRP in addition to settling payments and exchanging digital assets of all kinds. The open source community of developers supporting innovation on XRPL continue making core improvements to the technology to ensure performance, stability, security, quality, … Continued

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