The Ripple Consensus Ledger Concept

As this company has been focusing on the development of blockchain technology, digital money enthusiasts will know the title Ripple. Or to be more precise, they provide settlement solutions that are global to players — mostly banks — which will help reduce prices.

But that is not all this company since they want to offer transactionsbitcoin casino no deposit bonus 2017 bitcoin casino usa code Settling these international transactions in real-time is made possible due to this Ripple Consensus Ledger, which is also the distributed ledger for the XRP advantage. Unlike Bitcoin miners, the Ripple system employs individual validators to confirm transactions and bitcoin casino with high payout chance.

Ripple Consensus Ledger

One of those Ripple validators will be run by MIT, as their Connection Science research initiative is exploring the options of a worldwide Byzantine consensus database. This news is a substantial notch in the belt for Ripple, as MIT is among the world renowned institutes. Moreover, more validators on the Ripple Consensus ledger will strengthen the community, and offer decentralization to this concept as well.

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 anticipate 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 electronic currencies and value.

Professor Pentland and Managing Director David Shrier will lead MIT’s involvement . 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 lot of mutual respect for one another, and Ripple is excited to have MIT on board. Allowing money to move freely through the world — similar to how information is shared on the Internet —  is a substantial project, and with such a renowned institute contribute to those efforts can be invaluable to Ripple.

It has to be said that MIT won’t need to use up resources 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 different banks around the world have embraced this technology, things that are exciting seem to be on the horizon for all partieslow stakes bitcoin casino bitcoin casino mobile app iphone

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

Source: bitcoincasinoreview.net