The Ripple Consensus Ledger Concept

Since this company has been focusing on the development of blockchain technology, most currency enthusiasts will know the name Ripple. Or to be more exact, they supply players — mostly banks — which will help reduce prices with settlement solutions that are global.

As they also need to provide trades, but that is not all this company doescryptogames scam Settling these international transactions in real time is made possible due to the Ripple Consensus Ledger, which is the distributed ledger for its XRP digital advantage. Unlike Bitcoin miners, the Ripple system employs 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. This news is a significant notch in the belt for Ripple, as MIT is among the world renowned technological institutes. Moreover, more validators on the Ripple Consensus ledger will strengthen the community, and give 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 approach to the blockchain, and we anticipate this collaboration will provide 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 involvement of MIT . Furthermore, MIT Connection 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 respect for one another, and Ripple is excited to have MIT on board. Allowing money to move freely through the world — similar to how information is shared on the Internet —  is a substantial project, and having such a renowned institute contribute to these efforts can be invaluable to Ripple.

It must 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 lightweight, and can be compared to running an email server. Bearing in mind how 30 banks around the world have embraced this technology, exciting things appear to be on the horizon for all parties involvedonline bitcoin casino hacked bitcoin online casino australia

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

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