The Ripple Consensus Ledger Concept
As this company has been focusing on the development of blockchain technology for financial institutions over the last few decades, most digital money enthusiasts will know the title Ripple. Or to be more exact, they supply financial players — mostly banks — that will help reduce prices with financial settlement solutions that are global.
But that isn’t all this business as they also need to provide direct transactionsbetcoin rating Settling these international transactions is made possible thanks to the Ripple Consensus Ledger, which is the foundational distributed ledger for the XRP digital advantage. Unlike Bitcoin miners, the Ripple network employs 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. As MIT is one of the world renowned institutes this news is a notch in the belt for Ripple. Moreover, the network will be strengthened by more validators on the Ripple Consensus ledger, and give decentralization to 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 strategy to the blockchain, and we anticipate this collaboration provides us new opportunities to test and deploy data programs and research.We’re pleased 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 lead the involvement 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 lot of mutual respect for each other, and Ripple is very excited to have MIT on board. Allowing money to move freely across the world — similar to how information is shared on the Web — 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 need to use too many resources up to be a validator on the Ripple Consensus Ledger. All of these systems can be compared to running an email server, and are lightweight. Keeping in mind how 30 banks around the world have embraced this technology, things that are exciting seem to be on the horizon for all parties involvedfor what bitcasino site
What are your thoughts on MIT getting a validator on the Ripple Consensus Ledger? Let us know in the comments below!
Source: Business Wire
Pictures courtesy of Ripple, MIT, en.wikipedia.org