The Ripple Consensus Ledger Concept
As 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 provide players – mostly banks – that will help reduce prices with settlement solutions that are global.
Since they need to provide trades, but that is not all this company doesonline bitcoin casino software best site to buy bitcoin for ignition casino Settling these global transactions in real-time is made possible thanks to the Ripple Consensus Ledger, which can be the ledger for the XRP digital 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 those Ripple validators will be conducted by MIT, as their Connection Science research initiative is exploring the options of a global Byzantine consensus database. As MIT is among the world’s most renowned technological institutes, this news is a notch in the belt for Ripple. Moreover, more validators offer somewhat more decentralization for this concept as well, and on the Ripple Consensus ledger will strengthen the community.
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 information applications and research.We’re pleased that the Ripple team has fostered a meaningful dialog with us about the future of finance through the decentralization of digital currencies and value.
Managing Director David Shrier and professor Pentland will direct MIT’s participation as a Ripple Consensus Ledger validator. 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 respect for each other, and Ripple is very excited to have MIT on board. Allowing money to move freely through the world – like how information is shared on the Internet – is a significant project, and having such a renowned institute contribute to those efforts can be invaluable to Ripple.
It must be said that MIT won’t 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. Keeping in mind how this technology has been embraced by 30 different banks around the world, exciting things seem to be on the horizon for all partiesbitcoin online casino for us players online casino bitcoin list
What are your ideas on MIT getting a validator on the Ripple Consensus Ledger? Tell us in the comments below!
Source: Business Wire
Pictures courtesy of Ripple, MIT, en.wikipedia.org