Ripple update: Swift cloning Ripple’s source code
Ripple has the technological advantage over Swift, and Swift has the client base and network advantage over Ripple.
Since Ripple has open-sourced the codebase, Swift (or any other competitor), could simply copy the code, and start a new independent network with its own version of XRP on it. They could premine their own Swift coin, and distribute it to all of their clients for free in order to kick-start their cloned network.
What advantage does Ripple have if their tech is open for all to copy?
Edit: CaptInappropriate has answered the question – not all of it is open-sourced, in particular the xRapid/xCurrent/xVia is not, which is great to know, as I was getting a little worried…
About Ripple (XRP)
Ripple connects banks, payment providers and digital asset exchanges via RippleNet to provide one frictionless experience to send money globally. Banks and payment providers can use the digital asset XRP to further reduce their costs and access new markets. XRP is the fastest and most scalable digital asset today.
Don’t forget to share the post if you love it !