The Ripple Consensus Ledger Concept
Most digital currency enthusiasts will know the title Ripple, since this company has been focusing on the development of blockchain technology for financial institutions over the past few years. Or to be more exact, they supply financial players — mostly banks — that will help reduce prices with financial settlement solutions.
But that is not all this business since they also want to provide tradesa href=”https://bitcoincasinoreview.info/777coin-casino-review”>777coin casino no deposit Settling these transactions in real time is made possible thanks to this Ripple Consensus Ledger, which is the foundational ledger for its XRP asset. Unlike Bitcoin miners, the Ripple network employs 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 global Byzantine consensus database. This news is a substantial notch in the belt for Ripple, as MIT is among the world’s most renowned technological institutes. Moreover, more validators offer a bit more decentralization to this concept also, 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 are taking MIT’s experiential research approach to the blockchain, and we expect this collaboration will provide us new opportunities to test and deploy data applications 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 MIT’s involvement . Moreover, 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 respect for one another, and Ripple is 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 these efforts can be invaluable to Ripple.
It must be said that MIT won’t have to use resources up to be a validator on the Ripple Consensus Ledger. All of these systems may be compared to running an email server, and are very lightweight. Keeping in mind this technology was embraced by 30 different banks around the world, things that are exciting seem to be on the horizon for all partiesthe highest payout for casino bitcoin bitcoin casino slot machines
What are your ideas 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