The Ripple Consensus Ledger Concept
As this company has been focusing on the development of blockchain technology most digital money enthusiasts will know the title Ripple. Or to be more precise, they supply financial players — mostly banks — that will help reduce prices with settlement solutions that are global.
But that isn’t all this business since they also want to offer direct trades in real-time, which can be of high value in the international money transfer sectorcasino games on mobile betonline.ag bitcoin casino review Settling these global transactions in real-time is made possible due to this Ripple Consensus Ledger, which is also 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 these Ripple validators will be run by MIT, as their Connection Science research initiative is investigating the options of a global Byzantine consensus database. As MIT is one of the world’s most renowned institutes, this news is a substantial notch in the belt for Ripple. Moreover, more validators on the Ripple Consensus ledger will strengthen the community, and offer decentralization to this concept as well.
MIT Professor, Alex Pentland, shared his vision for this project as follows:
In this new experiment with Ripple, we’re taking MIT’s experiential research strategy to the blockchain, and we expect this collaboration will provide us new opportunities to test and deploy information applications and research.We’re happy that the Ripple team has fostered a substantive dialog with us about the future of finance through the decentralization of electronic currencies and value.
Professor Pentland and Managing Director David Shrier will direct the participation of MIT . 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 whole lot of respect for one another, 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 Internet — is a substantial project, and with such a renowned institute contribute to these efforts can be invaluable to Ripple.
It has to be said that MIT will not need to use up resources to be a validator on the Ripple Consensus Ledger. All of these systems are lightweight, and may be compared to running an email server. Bearing in mind 30 different banks around the world have embraced this technology, things that are exciting appear to be on the horizon for all parties involvedbitcoin casino no deposit bonus 2015 ignition casino bitcoin deposit declined
What are your thoughts on MIT becoming a validator on the Ripple Consensus Ledger? Tell us in the comments below!
Source: Business Wire
Pictures courtesy of Ripple, MIT, en.wikipedia.org