Kraken deposits - ledger spam?

Trade experiences with Ripple users and gateways
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Kraken deposits - ledger spam?

Postby Sukrim » Fri Feb 28, 2014 10:50 am

Alright, I finally decided to try out Kraken, especially since they plan to become a Ripple gateway in the future.

What I consider seriously weird though is to deposit funds there, I am asked to have them generate me a completely new/unfunded address. I then need to fund this address (the first 50 XRP are apparently kept by Kraken for managing trust lines etc.) on my own and most likely all XRP payments that go there will then show up in their interface as belonging to me.

While I like the idea that this makes it much harder to see who actually is a customer at Kraken, I am kinda worried about the amount of spam this creates on the ledger as well as the amount of XRP that are being wasted for reserves with such an approach. Also it kinda sucks that I have to pay 50 XRP for the "privilege" to deposit XRP with them.

Also they seem to have quite a bit of lag already when updating balances (it took nearly 30 seconds until my deposit was recognized in their UI after the transaction was cleared on Ripple) - querying potentially thousands of addresses or more each ledger does not seem like a very good idea to me.

I'll keep monitoring this account, but it seems like they just let the money stay there for the time being and not move it to a central account or dedicated hot/cold wallet.
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