The Ripple Consensus Ledger Concept
Most money enthusiasts will know the title Ripple, since this company has been focusing on the development of blockchain technology for financial institutions over the past few years. Or to be more precise, they provide settlement solutions that are global to players — mostly banks — which will help reduce prices.
Since they also want to provide trades, but that is not all this company doesbitcoin casino stock market bitcoin website new casino provably fair Settling these global transactions in real time is made possible due to the Ripple Consensus Ledger, which is the foundational ledger for the XRP advantage. Unlike Bitcoin miners, the Ripple network uses individual validators to confirm transactions and bitcoin casino with high payout chance.
Ripple Consensus Ledger
One of these Ripple validators will be run by MIT, as their Connection Science research initiative is exploring the options of a worldwide Byzantine consensus database. As MIT is among the world’s most renowned institutes, this news is a significant notch in the belt for Ripple. Moreover, the community will be strengthened by more validators on the Ripple Consensus ledger, and offer a bit more decentralization for this concept as well.
Alex Pentland, MIT Professor, shared his vision as follows:
In this new experiment with Ripple, we are taking MIT’s experiential research strategy to the blockchain, and we expect this collaboration provides us new opportunities to test and deploy information applications and research.We’re pleased that the Ripple team has fostered a meaningful dialog with us about the future of fund through the decentralization of electronic currencies and value.
Professor Pentland and Managing Director David Shrier will direct the participation of MIT as a Ripple Consensus Ledger validator. Moreover, MIT Link Science will continue to develop novel blockchain initiatives, and open source their code projects under the Internet Trust Consortium”umbrella.”
Both entities have a lot of mutual respect for each other, and Ripple is very excited to have MIT on board. Allowing money to move freely across the world — like how information is shared on the Web — is a substantial project, and with such a renowned institute contribute to these efforts can be invaluable to Ripple.
It must be said that MIT won’t need to use too many resources up to be a validator on the Ripple Consensus Ledger. All of these systems can be compared to running an email server, and are lightweight. Keeping in mind how 30 distinct banks around the world have embraced this technology, exciting things appear to be on the horizon for all parties involvedGet up to 1 Bitcoin Free on Oshi Casino bonus code
What are your ideas on MIT getting a validator on the Ripple Consensus Ledger? Tell us in the comments below!
Source: Business Wire
Pictures courtesy of Ripple, MIT, en.wikipedia.org
Source: bitcoincasinoreview.net
Loading ...