The Ripple Consensus Ledger Concept

As this company has been focusing on the development of blockchain technology for financial institutions over the past few decades, most money enthusiasts will know the name Ripple. Or to be more exact, they supply financial settlement solutions that are global to players — mostly banks — which will help reduce costs.

Since they also want to provide direct trades, but that is not all this business does1xbitsite Settling these global transactions is made possible thanks to the Ripple Consensus Ledger, which can be the foundational ledger for its XRP digital 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 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 among the world renowned institutes. Moreover, more validators offer somewhat more decentralization for this concept, and on the Ripple Consensus ledger will strengthen the network.

Alex Pentland, MIT Professor, 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 expect this collaboration provides us new opportunities to test and deploy data applications and research.We’re happy 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 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 whole lot of 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 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 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. Keeping in mind how this technology was embraced by 30 banks around the world, things that are exciting seem to be on the horizon for all partiesbitcoin casino free play where can i host a bitcoin casino

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,