The Ripple Consensus Ledger Concept
Since this company has been focusing on the development of blockchain technology for financial institutions over the last few decades, digital money enthusiasts will know the name Ripple. Or to be more precise, they supply financial settlement solutions.
As they also want to provide trades but that is not all this company doesbitcoin online casino bonus bitcoin casino deposit bonus Settling these international transactions in real time is made possible due to this Ripple Consensus Ledger, which is the ledger for the XRP asset. Unlike Bitcoin miners, the Ripple network uses individual validators to confirm transactions and bitcoin casino with high payout chance.
Ripple Consensus Ledger
One of those Ripple validators will be conducted by MIT, as their Connection Science research initiative is exploring the options of a worldwide Byzantine consensus database. This news is a notch in the belt for Ripple, as MIT is one of the world renowned technological institutes. Moreover, the network will be strengthened by more validators on the Ripple Consensus ledger, and offer decentralization for this concept also.
Alex Pentland, MIT Professor, shared his vision as follows:
In this new experiment with Ripple, we are taking MIT’s experiential research approach to the blockchain, and we anticipate this collaboration will provide us new opportunities to test and deploy information programs and research.We’re pleased that the Ripple team has fostered a substantive dialog with us about the future of fund through the decentralization of digital currencies and value.
Professor Pentland and Managing Director David Shrier will lead MIT’s participation . Furthermore, MIT Link Science will continue to create 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 excited to have MIT on board. Allowing money to move freely through the world — like how information is shared on the Internet — is a significant project, and having such a renowned institute contribute to those efforts can be invaluable to Ripple.
It has to be said that MIT will not have to use a lot of resources up to be a validator on the Ripple Consensus Ledger. All of these systems are extremely lightweight, and may be compared to running an email server. Keeping in mind how this technology was embraced by 30 distinct banks around the world, exciting things appear to be on the horizon for all partiesBitcoin Casinos – https://bitcoincasinoreview.info/
What are your thoughts on MIT getting a validator on the Ripple Consensus Ledger? Tell us in the comments below!
Source: Business Wire
Images courtesy of Ripple, MIT, en.wikipedia.org
Source: bitcoincasinoreview.info
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