Ripple CTO David Schwartz Makes a Big Statement About The New - Reddit He developed encrypted cloud storage and enterprise messaging systems for organizations like CNN and the National Security Agency (NSA). @JoelKatz, his Twitter handle, has more than 100,000 followers. NATURAL BORN GENIUS- David Schwartz is one of the worlds most gifted cryptographer, we view him as a genuine genius. ;ASSIGNOR:SCHWARTZ, DAVID J.;REEL/FRAME:004938/0770, Owner name: McCaleb and Schwartz joined forces and soon brought on another programmer, Arthur Britto, to help Schwartz finish XRP's technical architecture. Related Topics Ripple Crypto comments sorted by Best Top New Controversial Q&A Add a Comment More posts you may like. processing portions of an additional task by at least one of the at least two low level computers which are currently available for processing, and distributing for processing along the communications link those portions of the additional task unprocessed by the low level computers to any currently available high level computer. Ripple Labs - Wikipedia This gave the untested currency a market value of $140 billion. As the companys newly appointed chief technology officer, Schwartz is on a mission to dismantle and reassemble one of the biggest gateways on the planetthe one that connects nearly every bank in the world so that trillions of dollars can move from account to account. Under Schwartzs technical leadership, Ripple would like to bring global money transfers into the 21st century. In this way Ripple hopes to transform XRP into a decentralized reserve currency for international banks. SWIFT has had the monopoly for so long, says Mercury CEO Alastair Constance, Why havent they been passing down the cost and time-saving? My objective initially was just to see if it was true, says Schwartz, who started working on the code that would eventually underpin the XRP cryptocurrency. The first links couple at least one computer of the high level computer means to at least two computers of the low level computer means. The computer system of claim 42, wherein said high level computer means and said low level computer means are operable for processing different portions of the additional task at the same time. Ripple's Trillion-Dollar Man - Forbes The computer system of claim 9, wherein the number of third link means is greater than the number of fourth link means. The computer system of claim 1, wherein each computer within the low level computer means is coupled to at least one other computer within the low level computer means through two second link means whereby the low level computer means forms a ring of computers. Prior to joining Ripple, David Schwartz was Chief Technical Officer for WebMaster Incorporated, a Santa Clara software developer. The founders of Ripple, by contrast, created all 100 billion of the XRP tokens at once in 2011. Check out his full Patent HERE US5025369A - Computer system - Google Patents While not the same, it is eerily similar to how validation works on the XRP Ledger. The computer system of claim 58, wherein each computer means within the computer system is a personal type computer. This invention relates generally to a computer system, and more particularly to distributed processing of a task by a distributed computer system. processing, if available, by the at least one high level computer the unprocessed portions undistributed to the second of the at least two low level computers. While GPI isnt necessarily a Ripple-killer, it presents another serious hurdle for Ripple to clear. The method of claim 66, further including transferring portions of the task along the second link means unidirectionally. As for the validators, Schwartz claims that only 10 of the 150 currently supporting the network are managed by Ripple. A method of distributed processing within a network of computers, comprising: arranging the network as a multilevel system including at least one high level computer and at least two low level computers; establishing a communications link which includes first link means and second link means wherein the low level computers are coupled together through the second link means and at least one high level computer is coupled to the at least two low level computers through the first link means and wherein the number of first and second links associated with each low level computer are unequal; distributing one or more portions of a task to be processed by low level computers along the communications links based on the availability of the low level computers to process said one or more portions of the task, said availability being previously communicated to the at least one high level computer along the first link means; processing the distributed portions of the task by the currently available low lever computers; and, processing all undistributed portions of the task by the at least one high level computer; and. Theyre enforcing the law in a way that doesnt have any of the normal protections that law enforcement is supposed to have. Another object of the invention is to provide an improved distributed computer system in which there is a continuous active interconnection between computers. of the central processing unit [CPU] to service a request the resource being a machine, e.g. No continuous active interconnection (i.e. CHANGE OF NAME;ASSIGNOR:DEUTSCHE TEXACO AKTIENGESELLSCHAFT GMBH;REEL/FRAME:005244/0417, Free format text: For example, floating, The eleven communications links A, B, C, D, The A and B links are used as communications lines for computers 100 which are on the same level within the distributed computer system. David Schwartz, the CTO of Ripple, has offered valuable insights into the operational methods of Linqto, a fintech firm specializing in investment services.Specifically, Schwartz's commentary sheds light on the approach that Linqto employs to facilitate investments in companies like PolySign, for which he serves as a board member. David Schwartz is Chief Cryptographer at Ripple. Some 57% of ether production is controlled by three mining pools. 38. The computer system of claim 37, wherein said high level computer means and said low level computer means are operable for processing different portions of the task at the same time. The computer system of claim 48, wherein the fourth link means are operable for transferring portions of the task, additional task and further additional task bidirectionally. The computer system of claim 37, wherein the number of first link means and the number of second link means associated with each computer means of said low level computer means are unequal. Schwartz said that miners' involvement in Bitcoin's PoW . The answer is that inefficiency and laziness has made them a lot of money.. Preferably, the A and B links connect all computers on the same level together to form a ring of computers (i.e. On Oct. 21, veteran cryptographer Nik Bougalis said that he was parting ways with Ripple. The method of claim 28, further including transferring portions of the task along the second link means unidirectionally. Davids patent used principles that the XRP Ledger uses today and it is currently breaking transaction records almost daily as mass adoption starts to ramp up. David is one of the original architects of the XRP Ledger. 6 is an expanded distributed computer system in accordance with the invention; FIG. Schwartz went on to help build two financial tools that would become Ripples first core products: xVia, a payment interface designed to let users send payments globally with increased transparency, and xCurrent, enterprise software that lets banks initiate and settle transactions. The authors sought to characterize the structural and amyloid in vivo correlates of frPSI in cognitiv Today, the Ripple network is so renowned that Colombia considered using it for its national land registry under the previous government administration. The communications link means has first links and second links. Company, Inc., St. Petersburg, Fla., under the registered trademark ETHERNET; FIG. Patents Assigned to RIPPLE LABS INC. - Justia Patents Search The competition has jolted SWIFT into action. The computer system of claim 8, wherein said lower level computer means includes at least three computers and wherein said communications link means includes third link means and fourth link means, said third link means coupling said at least two computers of said low level computer means to said at least three computers of said lower level computer means, said fourth link means coupling said at least three computers of said lower level computer means together wherein the number of third link means and the number of fourth link means coupled to one of the computers on the lower level computer means are unequal. Credibility is a precious asset in cryptoland these days, and Schwartz, little-known and passed over during the XRP windfall enjoyed by his peers, comes off as something of a cryptocurrency Eagle Scout. Meawhile he was getting interested in cryptography. When that barrier goes away, you understand it. According to the article, as she noted, Schwartz chose Ripple stock instead of XRP. The method of claim 28, further including processing different portions of the additional task at the same time. n May, as if to acknowledge his being overlooked in Ripples original creation story and hierarchy, Schwartz was discreetly named chief technology officer of the company he helped build from scratch. Schwartz exposes how many XRP he owns and what his relationship to Bitcoin and Ethereum looks like. FIG. 5, a first distributed computer system embodiment of the invention includes a, Each computer of level III reports its status of availability through its C lines to, With the task now having been transfered to, Processing of a task on a real time basis can be performed by, Level V includes computers which are connected to the D links of, FIG. The computer system of claim 1, wherein said high level computer means and said low level computer means are operable for processing different portions of the task at the same time. Forbes: Meet David Schwartz, Ripple's Trillion Dollar Man - Ethereum Ripples xRapid product has also won some converts. The computer system of claim 39, wherein said second link means are operable for transferring portions of the task and additional task bidirectionally. I (Illustrated Edition): This paperback includes patents attributed to David Schwartz Enterprises Inc. and Ripple Labs Inc.; such as, A Multilevel Distributed Computer System, and Electronic Payment Network Security, etc. The method of claim 28, further including transferring portions of the task along the first link means bidirectionally. Speaking of his job at Ripple, Schwartz says that he likes the fact that the company makes it possible for him to work with cutting-edge technologies and build not-yet-decided products. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basics opinion. 6 in accordance with a first embodiment of the invention; and. In early 2011 Schwartz was looking for something new. Who is David Schwartz? - onXRP 55. The CTO's perspective is that a blockchain-agnostic solution is a technology that can operate with all digital assets in the cryptocurrency space or . In short, Schwartz wants to disrupt SWIFT, the Society for Worldwide Interbank Financial Telecommunication, a Belgian cooperative organization founded in 1973 that counts more than 10,000 financial institutions as its members and is the ultimate middleman in banking. The history of the XRPL could be older than we previously believed. Chris Larsen, Ripples executive chairman, adds: Hes, if not the soul, hes a key part of the soul of what were trying to do here.. Schwartz dismisses such objections: When you try to update a legacy system, you tend to be pressured to keep things as opposed to replacing them. The following year he was awarded his first patent20 years before Satoshi Nakamoto invented the bitcoin blockchainfor a distributed computer network he designed to lighten the burden of a central processor. As shown in FIG. network). rom an early age David Schwartz was obsessed with doorknobs and locks. . Ripple's chief technology officer David Schwartz has offered a simple method to identify what constitutes a security or commodity. A method of distributed processing within a network of computers, comprising: establishing a communications link which includes first link means and second link means wherein the low level computers are coupled together through the second link means to form a ring of computers and the at least one high level computer is coupled to the at least two low level computers through the first link means and wherein the number of first and second links associated with each low level computer are unequal; distributing portions of a task to be processed by currently available low level computers along the communications link based on the availability of the low level computers to process one or more portions of the task, said availability being previously communicated to the at least one high level computer along the first link means; processing the distributed portions of the task by currently available low level computers; processing, if currently available, all undistributed portions of the task by the at least one high level computer; processing portions of an additional task by currently available low level computers; distributing for processing along the communications link those portions of the additional task unprocessed by the low level computers to the at least one high level computer based on the availability of the at least one high level computer to process one or more portions of the unprocessed additional task, said availability of the at least one high level computer being previously communicated to at least one of the low level computers along the first link mean; and. chwartzs background mirrors that of many of todays technologists. In 1990 he received a degree in electrical engineering from the University of Houston. Its a control, says Schwartz. Ripple CTO Explains Why XRP Does Not Use Proof-of-Work - CryptoGlobe Ripple is proud to have a strong bench of leaders across our executive team and board of directors. To this day Schwartz is not listed as a cofounder of Ripple, despite being employee number two and its chief architect. A distributed computer system, that is, a network of computers each of which functions independently but in a cooperative manner with each other computer, are well known in the art and generally are assembled in the form of a cluster, token ring or all together along the same line/bus (i.e. A computer system in which portions of a task are performed by a number of different processors is commonly referred to as distributed processing. A task inputted to the system is divided into a plurality of portions. Those portions unprocessed on the lowest level are distributed for processing on the next lowest level. With Ripple's value at $4.7 billion (and XRP's market cap at $13 billion), Schwartz's net worth is estimated to be about $90 million. To date, Ripple has introduced three important products: xVia, xCurrent and the newer xRapid, which aims to address an age-old problem facing international banks. Similarly, different portions of any additional task are processed at the same time by different computers. 3 yr. ago Heres an abstract of the 1991 patent: Patent number: 5025369 A multilevel distributed computer system for distributed processing preferably includes a plurality of personal computers. For a fuller understanding of the invention, reference is had to the following description taken in conjunction with the accompanying drawings, in which: FIG. Ripple Labs CTO David Schwartz is giving some reasonably sound investment advice, though it comes at a strange time for the payments network. For bitcoin, about 58% of transactions are processed by four mining pools, mostly in China. At least two low level computers are operable for receiving an additional task, for processing, if they can, portions of the additional task and distributing for processing those portions of the additional task unprocessed by the low level computers to the at least one high level computer if the latter is currently available for processing. As many of the portions as possible are distributed for processing on the lowest level of the system. 61. In processing each task within the computer system, different portions of the task are processed at the same time by different computers. xRapid frees up this capital and lowers costs by substituting the local currencies with the XRP cryptocurrency. In 2001, David started . 20. The computer system of claim 46, wherein each computer means within the lower level computer means is coupled to at least one other computer means within the lower level computer means through two fourth link means whereby the lower level computer means forms a ring of computer means. . 12. Its a gateway, a barrier, and obstacle. Additional levels of computers can be added to the system to further distribute the processing of portions of a task and additional task. David Schwartz: Getting Ripple Stock Instead of XRP was Probably a Big The number of first links coupled to at least one computer of the high level computer means and the number of second links coupled to one of the at least two computers of the low level computer means are unequal. They sell the coins periodically and have distributed many to insiders. 50. Ripple's Chief Technology Officer, David Schwartz, and the self-proclaimed Bitcoin inventor, Craig Wright, have been engaging in a public exchange regarding the lawsuit outcome surrounding XRP . 18. Patents Assigned to RIPPLE LABS INC. Network computing system executing programmatic adapters to implement asynchronous communications Patent number: 11551191 Abstract: A computing system can establish asynchronous network communications with exchanges to facilitate cross-medium transactions between originating and recipient clients. 13. The method of claim 63, wherein establishment of the communications link includes coupling each low level computer to at least one other low level computer through two second link means whereby the low level computers form a ring of computers. The latest R&D info about Rhode Island Hospital: pipelines, patents The computer system of claim 23, wherein each computer within the computer system is a personal type computer. Ultimately this results in foreign currency exchanges and a transfer of funds, often via numerous correspondent member banks. David Schwartz has been a prominent member of the crypto-sphere from its earliest days and is considered to be a household name within the community. The invention accordingly comprises the several steps in a relation of one or more such steps with resepct to each of the others, and the apparatus embodying features of construction, a combination of elements and arrangements of parts which are adapted to effect such steps, all is exemplified in the following detail disclosure, and the scope of the invention will be indicated in the claims. 21. Those validators, or nodes, are in turn organized into groups that trust each other called UNLs, or unique node lists. While validators get to choose their own UNL, the list assembled by Ripple is the default, creating a possible area of centralization. A task. 64. 29. Importantly, while only permissioned institutions can use Ripples products, xRapid is designed to make it easier for banks to use the XRP cryptocurrency, which anyone can buy, and the XRP platform on which anyone can build. But to truly decentralize the system, Schwartz is urging others to build on the XRP blockchain the way ethereum has. 24. 1, a prior art cluster computer system 10 includes between three to six, In operation, once one portion of a task is solved by one, The token ring scheme is based on collision avoidance. David Schwartz cto of ripple who worked for the NSA and - Reddit 7. 7 is a flow chart of FIG. What remains unclear (by design) is how many of the non-Ripple validators are relying on the UNLs Ripple has actually deemed to be trustworthy. Under one embodiment of the invention no portion of a task, if possible, should be distributed so that the path of distribution of one or more portions of the task from one computer 100 to another computer 100 includes yet another computer 100 which is on a higher level of the computer system. Is it really strong? With more than 10,000 banks in SWIFTs network, Newman is hopeful that he can transition all of SWIFTs members to its new system GPI system by 2020. We dont know is the official response from a company spokesperson. An "AMM" or Automated Market Maker is another way of managing trade and price in exchange markets that uses algorithms, vs the much older CLOB (Centralised Limit Order Book). 40. In 2014, McCaleb became disgruntled and departed, forking, or copying, XRPs code to start rival venture Stellar. By moving the transactions to a shared, distributed ledger that only permissioned users can access, Ripple claimed to be able to facilitate transactions in as little as a few seconds instead of days. The computer system of claim 44, wherein said high level computer means, low level computer means and lower level computer means are operable for processing different portions of the task at the same time. A multilevel computer system including high level computing means and low level computing means, comprising: communications link means for transferring portions of a task within the computer system, said communications link means including first link means and second link means; said high level computer means including at least one computer means and operable for receiving the task, for distributing for processing portions of the task to said low level computer means based on the availability, as determined by said high level computer means, of said low level computer means to process one or more portions of the task, said availability being previously communicated to said high level computer means along said first link means of said communication link means and for processing, if currently available, all undistributed portions of the task; said low level computer means including at least two computer means and operable for processing received portions of the task from the high level computer means, one of said at least two computer means operable for receiving an additional task and for processing, if currently available, portions of the additional task; said high level computer means also operable for receiving from one of said at least two computer means of said low level computer means portions of the unprocessed additional task and for distributing, for processing those portions of the unprocessed additional task to the other of said at least two computer means for processing by the latter based on the availability of the other of said at least two computer means to process one or more portions of the unprocessed additional task, said availability of the other of said at least two computer means being previously communicated to said high level computer means from the other of said at least two computer means along said first link means and, if available, processing of those portions of the unprocessed additional task undistributed to said other of said at least two computer means; said communications link means also for communicating to said high level computer means along said first link means from said low level computer means the current availability of said low level computer means to process one or more portions of the task and for communicating to said high level computer along said first link means from the other of said at least two computer means the current availability of the other of said at least two computer means to process one or more portions of the unprocessed additional task, said first link means coupling said at least one computer means of said high level computer means to said at least two computer means of said low level computer means, each of said second link means coupling said at least two computer means of said low level computer means together; wherein the number of first link means and the number of second link means coupled to one of the at least two computer means of said low level computer means are unequal. The method of claim 66, further including transferring portions of the task along the second link means bidirectionally. 70. Banco Santander, for example, is working with two other financial infrastructure blockchain platforms, Hyperledger Fabric and Ion, to explore other applications. Charles Schwartz Inventions, Patents and Patent Applications - Justia In 1992, Schwartz and his father, a doctor of internal medicine, cofounded a medical technology company that developed a noninvasive device for recording data about heart murmurs. Fabian Vandenreydt, a former head of SWIFT Global Securities, adds that the issue isnt whether Ripples technology works but whether it saves banks more money than it costs. David Schwartz - CTO @ Ripple - Crunchbase Person Profile He is one of the chief architects of the XRP Ledger, but a patent filing in 1988 shows he had a similar vision for a decentralized network before there was anything called a blockchain. Larsen, who received 9 billion XRP tokens as its CEO, saw his crypto holdings rise to as much as $60 billion. The process took seven years and was estimated to cost $400 million. 3. Describing the move as bittersweet, Schwartz said although he would no longer work with him, he is still glad of Bougalis's decision to move forward. This idea of disintermediating these shadow regulators that are not democratically accountable and are not elected but act as policemen kind of resonated with me.
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