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Gateway B
Gateway A
Ripple network
(XRP)
ABAB
Person A
Money: USD 100
XRP
Person B
Virtual Money: XRP 100
XRP
USD
Gateway A
Ripple world
(XRP)
Gateway A
IOU: USD 0
Person A
Money: USD 0
IOU: USD 99
USD
IOUGateway A
99
Person B
Virtual Money: XRP 100
Gateway A
Ripple world
(XRP)
Gateway A
IOU: USD -99
Money: USD 99 + 1
Transaction fee : 1%
Person A
Money: USD 0
IOU: USD 0
Virtual Money: XRP 99
USD IOU
Virtual Money
Gateway A
Ripple world
(XRP)
Person B
Virtual Money: XRP 1
IOU: USD 99
USD IOU
Virtual Money
Gateway A
IOU: USD -99
Money: USD 99 + 1
Transaction fee : 1%
Person A
Money: USD 0
IOU: USD 0
Virtual Money: XRP 99
Gateway A
Ripple world
(XRP)
Person B
Virtual Money: XRP 1
IOU: USD 0
Money: USD 98.01
USD IOUGateway
Gateway A
IOU: USD 0
Money: USD 1.99
(99 * 0.99 + 1)
Transaction fee : 1%
IOU
IOU
IOU
IOU
IOU
IOU
IOU
IOU()
IOU
IOU0
IOUIOU