The Ripple Consensus Ledger Concept
As this company has been focusing on the development of blockchain technology most digital money enthusiasts will know the name Ripple. Or to be more precise, they provide players — mostly banks — that will help reduce costs with settlement solutions that are global.
As they also need to offer direct trades, but that isn’t all this company does1xbit review Settling these transactions in real time is made possible thanks to the Ripple Consensus Ledger, which is also the distributed ledger for the XRP digital asset. Unlike Bitcoin miners, the Ripple system 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 worldwide Byzantine consensus database. This news is a significant notch in the belt for Ripple, as MIT is among the world’s most renowned institutes. Moreover, the network will be strengthened by more validators on the Ripple Consensus ledger, and offer 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 expect this collaboration provides us new opportunities to test and deploy data programs 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.
Managing Director David Shrier and professor Pentland will direct MIT’s involvement 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 whole lot of respect for each other, and Ripple is very excited to have MIT on board. Allowing money to move freely across the world — like 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 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 extremely lightweight. Keeping in mind how 30 banks around the world have embraced this technology, things that are exciting appear to be on the horizon for all parties involvedbitcoin casino promo code bitcoin casino list submit
What are your ideas on MIT getting a validator on the Ripple Consensus Ledger? Let us know in the comments below!
Source: Business Wire
Images courtesy of Ripple, MIT, en.wikipedia.org
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