MN504 Networked Application Management Assignment 1 Page 1 of 4Prepared by: Dr Lincy Jim Moderated by: Dr Imran Ali Jokhio July 2019Assessment Details and Submission GuidelinesTrimesterT2 - 2019Unit...

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MN504 Networked Application Management Assignment 1 Page 1 of 4Prepared by: Dr Lincy Jim Moderated by: Dr Imran Ali Jokhio July 2019Assessment Details and Submission GuidelinesTrimesterT2 - 2019Unit CodeMN504Unit TitleNetworked Application ManagementAssessment TypeIndividual AssignmentAssessment TitleCryptocurrency giants- Bitcoin and RipplePurpose of the assessment (with ULO Mapping)The purpose of this assignment is to develop skills of analysing critically, and problem solving in regard to Networked Application Management (NAM). Students will be able to complete the following ULOs:b. Perform a literature review on modern network applications and management;c. Analyse common and emerging types of middleware to design and manage networked applications;Weight10%Total Marks50Word limit1500 - 2000Due Date30/08/2019 11:55PM (Friday Week 7)Submission Guidelines All work must be submitted on Moodle by the due date along with a title Page. The assignment must be in MS Word format, 1.5 spacing, 11-pt Calibri (Body) font and 2.54 cm margins on all four sides of your page with appropriate section headings. Reference sources must be cited in the text of the report, and listed appropriately at the end in a reference list using IEEE referencing style.Extension If an extension of time to submit work is required, a Special Consideration Application must be submitted directly on AMS. You must submit this application three working days prior to the due date of the assignment. Further information is available at:http://www.mit.edu.au/about-mit/institute-publications/policies-procedures-and-guidelines/specialconsiderationdefermentAcademic Misconduct Academic Misconduct is a serious offence. Depending on the seriousness of the case, penalties can vary from a written warning or zero marks to exclusion from the course or rescinding the degree. Students should make themselves familiar with the full policy and procedure available at: http://www.mit.edu.au/about-mit/institute-publications/policies-procedures-and-guidelines/Plagiarism-Academic-Misconduct-Policy-Procedure. For further information, please refer to the Academic Integrity Section in your Unit Description.MN504 Networked Application Management Assignment 1 Page 2 of 4Prepared by: Dr Lincy Jim Moderated by: Dr Imran Ali Jokhio July 2019Assignment DescriptionA report containing a complete discussion and analysis of the given topic in the required context needs to be submitted on Moodle. The report must have following parts:Part 1: Bitcoin & RippleThe students explore Bitcoin & Ripple by reviewing the literature on the internet as papers, book chapters, independent scholarly reports of experts, and research based videos. Students participating in the PBL are taught how to do the critical thinking for review of literature. At least three articles related to the technology supporting Ripple need to be analysed in depth by discussing the overall contribution, scope and limitations of each research work. Following aspects related to Ripple must be discussed: Architecture Features ChallengesPart 2: Applications of BitcoinStudents need to discuss at least 2 applications in EACH of the following domains supported by Bitcoin: As a platform As a system of recordPart 3: Compare Bitcoin and RippleBitcoin and Ripple are the two biggest giants of the cryptocurrency world. Bitcoin (BTC) was the first coin and Ripple (XRP) came in a few years earlier. Discuss in detail similarities and differences between the two.Turnitin SubmissionAll assignments should be submitted via Turnitin and the similarity reports should be looked at carefully before the due-date, as students should make sure that there is no plagiarism of any type.MN504 Networked Application Management Assignment 1 Page 3 of 4Prepared by: Dr Lincy Jim Moderated by: Dr Imran Ali Jokhio July 2019Marking CriteriaSection to be included in the reportDescription of the sectionMarksIntroductionIntroduction of Bitcoin and Ripple in terms of use and popularity. Also the structure of the assignment should be discussed.3Part 1Discussion of following aspects related to Ripple: Architecture Features Challenges8+ 6+ 6 =20Part 2Analyse and discuss at least 2 applications in EACH of the following domain supported by Bitcoin : As a platform As a system of recordThere has to be at least 2-3 references for each application.7.5 * 2 =15Part 3Differences and Similarities between Ripple & Bitcoin are to be discussed and analysed5ConclusionDraw a conclusion of the report with complete summary of all sections3Reference styleFollow IEEE Transactions on Networking reference style, in text citation and complete reference list.4Total50MN504 Networked Application Management Assignment 1 Page 4 of 4Prepared by: Dr Lincy Jim Moderated by: Dr Imran Ali Jokhio July 2019Marking Rubric for Assignment #1: Total Marks 50GradeMarkHD40-50DI35-39CR30-34P25-29FailExcellentVery GoodGoodSatisfactoryUnsatisfactoryIntroduction/3All salient features contributing to the popularity of Ethereum & Bitcoin are discussed and ability to think critically is demonstratedSome relevant features are soundly analysed.General features are analysed.Some relevant features are briefly presented.This is not relevant to the assignment topic.Part 1/20Demonstrated excellent ability to analyse critically and sourced reference materialDemonstrated excellent ability to analyse critically but did not source reference material appropriatelyDemonstrated some ability to analyse critically and sourced reference material appropriatelyDemonstrated little ability to analyse critically and did not source reference material appropriatelyDid not demonstrate ability to analyse critically and did not source reference material appropriatelyPart 2/15Findings are clearly linked and well justified. Scope and limitations are provided exceptionally wellFindings are clearly linked and justified. Scope and limitations are providedFindings are linked and convincing. Some scope and limitations are providedFindings are not linked and unjustifiedFindings are not availablePart 3/5All socio-technical aspects are discussed exceptionally wellVery good discussion of most socio-technical aspectsGood discussion of some socio-technical aspectsDiscussion of few socio-technical aspectsUnsatisfactory discussion of few socio-technical aspects.Conclusion/3Logic is clear and easy to follow with strong argumentsConsistent, logical and convincingMostly consistent logical and convincingAdequate cohesion and convictionArgument is confused and disjointedReference style/4Clear styles with excellent source of references.Clear referencing styleGenerally good referencing styleSometimes clear referencing styleLacks consistency with many errors
Answered Same DayAug 12, 2021MN504

Answer To: MN504 Networked Application Management Assignment 1 Page 1 of 4Prepared by: Dr Lincy Jim Moderated...

Ankit answered on Aug 16 2021
157 Votes
Crytpcurrency giants- Bitcoin and Ripple
Submitted By: Student_Name
Introduction:
What does Cryptocurrency mean? Cryptocurrency is the structure of digital cash which is carried via the Internet. It uses cryptography for its security. It’s very hard to forge it due to its advanced security attributes. Cryptocurrencies had been highly appreciated in the digital world among the la
st years. Bitcoin was the first unexpected invented decentralized cryptocurrency.
Actually crytocurrency was the fall-out of another innovation. Satoshi Nakamoto was the mysterious originator of Bitcoin. Satoshi’s innovation leads him to find a new way of creating a decentralized cash procedure digitally. But he was onto something else. Bitcoin was his unexpected fall-out. He declared world widely about Bitcoin in 2008. Before that, many people failed to invent something like digital money. After watching so many failed attempts, Satoshi tried to create a system which is like digital cash system but there should not be any central entity. You can refer it like a network which is peer-to-peer. And this attempt caused the creation of cryptocurrency. And it is the digital cash.
So we can say that Bitcoin is not controlled by centralized banks or any edict from government authorities. This edict refers to the physical money i.e. currency may be US Dollars or any, on which government authorities and banks have power. Thus, it gives the freedom to persons to send their digital money from one person to other to any part of the world excluding any third party. Thus, it cut outs the fees these third parties impose to support the transactions. Because of all these, Bitcoin and other cryptocurrencies are widely accepted. Cryptocurrencies are on the verge of being stable and widely used.
After Bitcoin, 1600 cryptocurrencies has been invented. Those cryptocurrencies are referred with the “alt coins” label. Many of them succeeded but most of them are outmoded.
Out of all “alt coins”, there is one named XRP. It is considered as the most competent of all. XRP is evolved by the Organization “Ripple” and it is the most affective and well planned cryptocurrency [1], [3].
Now let’s dig into the Ripple cryptocurrency deeply.
Ripple (XRP):
The work process on Ripple started back in 2004. The base code for Ripple was created by the creative minds of Arthur Brito and David Schwartz. The basic grip on this project started when the talented executive Chris Larsen had taken the charge of Ripple in 2012. In 2013, they shoot up the project and started enrolling with many banks. But when VC of Yahoo! Mr. Brad Garlinghouse takes the charge as CEO, they extend their partnership to various payment contributors, banks, investors, exchanges. American Express, Bank of America, Google, HSBC are some of their famous 200 collaborator’s list.
Now, why Ripple is booming into the world? It can be simply explained in one line by referring to the real time example of Western Union. Western Union usually takes around three days to make a money transfer. But Ripple becomes the booming stream to do it in just three seconds. So we can simply say that XRP i.e. Ripple is the alliance. In today’s business world, there is no other cryptocurrency that can offer this much speed with satisfaction. Ripple provides the financial stimulant to all the organizations embracing it. Thus to maintain in the competitive world, all the organizations who are still not embracing it, are facing so much compulsion [3].
One of the real time implementation of Ripple is Bank of America. They are implementing the protocol “inter ledger” of Ripple.
· Architecture: The architecture of the Ripple is composed of following:
i. Messenger: Messenger is an API module that allows the two Ripple based banks to transmit with each other.
ii. ILP Ledger: ILP Ledger is...
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