The Ripple Consensus Ledger Concept
Most money enthusiasts will know the name Ripple, as this company has been focusing on the development of blockchain technology. Or to be more precise, they provide global settlement solutions to players — mostly banks — which will help reduce costs.
But that isn’t all this company does, since they also need to provide direct tradesbest bitcoin casino usa reviews bitcoin casino us bonus code signup Settling these transactions in real time is made possible due to the Ripple Consensus Ledger, which can be the ledger for its XRP digital asset. Unlike Bitcoin miners, the Ripple system uses individual validators to confirm transactions and bitcoin casino with high payout chance.
Ripple Consensus Ledger
One of those Ripple validators will be run by MIT, as their Connection Science research initiative is exploring the options of a global Byzantine consensus database. This news is a notch in the belt for Ripple, as MIT is one of the world renowned institutes. Moreover, the community will be strengthened by more validators on the Ripple Consensus ledger, and offer a bit more decentralization to this concept.
MIT Professor, Alex Pentland, shared his vision for this project as follows:
In this new experiment with Ripple, we are taking MIT’s experiential research approach to the blockchain, and we expect this collaboration provides us new opportunities to test and deploy information programs and research.We’re happy that the Ripple team has fostered a meaningful dialog with us about the future of fund through the decentralization of digital currencies and value.
Professor Pentland and Managing Director David Shrier will direct the participation of MIT . 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 whole lot of mutual respect for one another, and Ripple is excited to have MIT on board. Allowing money to move freely across the world — like how information is shared on the Web — is a significant project, and with such a renowned institute contribute to these efforts can be invaluable to Ripple.
It has to be said that MIT won’t have to use resources up to be a validator on the Ripple Consensus Ledger. All of these systems are lightweight, and may be compared to running an email server. Keeping in mind how 30 banks around the world have embraced this technology, things that are exciting appear to be on the horizon for all partiescasino reviews are great and casinos gt gt
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