At the Blockchain Live event in London, Marcus Treacher talked about the Interledger Protocol (ILP). Treacher is the global leader of Ripple's Strategic Customer Division. In his remarks, Treacher also highlighted how Ripple Labs uses the cross-border payments protocol.
Ripple has focused from the outset on solving existing problems with cross-border payments, Treacher said. Such payments today are much faster and easier than they used to be.
Next Treacher said that they had encountered a particular problem. So Ripple Labs realized that you can not bring the world on the Blockchain nor integrate them into it. Since then, Treacher says, Ripple Labs is concentrating on connecting the world through the blockchain.
To realize this, the company is using the Interledger Protocol (ILP), Treacher said. He said:
“An interesting model that we really like and that we have integrated is Interledger. The basis of this is the information design of the Internet. This design is then mimicked with cryptography in a similar way, so that it is connected via the blockchain. “
In this way, Ripple Labs connects its banking and payment provider partners around the world, Treacher said. That works fine.He completed his explanation by explaining why the Interledger Protocol works. That's because, Treacher said, that in today's environment no one could “just go so smoothly to a blockchain world”. Everyone lives today in a “very confused world”. Of course, there are some “information islands and valuable data,” Treacher explained. The trick is to connect everything.
“If you could create an Internet model for values or identities, that would be something special. The open connections would make an absolute overall connection possible. “
Treacher concluded by saying that Ripple Labs does not need to worry about level 1 or level 2. Ripple Labs is focused on creating a truly connected world.
The cryptocurrency Ripple XRP has enjoyed a pleasing performance recently. At the time of writing, a ripple XRP had a value of $ 0.58. Some time ago, the price was around $ 0.28. Also in terms of market capitalization, Ripple XRP was not far behind Ethereum at $ 23 billion.
Sources: Blockchain Live, AMBCrypto, Cryptocurrency Courses, Pixabay
Author: Peter Joost – Source Post: https://www.kryptovergleich.org/ripple-concentrated-that-one-real-crosslinked-world-to-create-so-ripple-manager/
Disclaimer: CoinNewsDesk.com is a crypto news portal, financial discussion forum, and content curator / aggregator. Articles on Coin News Desk are provided for entertainment and information purposes only. We are not an investment advisor and do not provide financial advice.
We can not review all articles posted on CoinNewsDesk.com. Please independently research and verify any information here before relying on it as fact. It's also important to do proper due diligence and analysis, including consulting a professional financial advisor. No content on Coin News Desk makes any recommendation to enter into any type of investment or engage in any investment strategy on this website.