Ripple (XRP) Increases its Interoperability by Releasing a Bitcoin Plug-In
On 02 June, 2017, XRP released the first bitcoin plug-in or its Interledger protocol (ILP), which allows users to conduct transactions across a wide range of ledgers. What that means is that if J.P. Morgan Chase normally goes through five different banks if it's trying to transfer money from the U.S. to the Philipines, then each bank is going to charge a fee so they make money and each bank is going to delay the transfer of funds while it waits for verification. The ILP is designed to cut out all the middlemen so Chase can instantaneously send funds to the final bank right away and drastically reduce their costs.
They conducted a test of this bitcoin plug-in for a single transaction across seven different ledgers. Additionally, they announced that they are working on a Litecoin (LTC) plug-in next.
This is great news for XRP holders and as Ripple increases its interoperability more and more banks will likely come on board the project and use XRP as a currency to conduct transfers.
Here's a link to the full article:
http://www.coindesk.com/interoperability-boost-ripple-sends-blockchain-transaction-across-7-different-ledgers/
Please feel free to ask me questions and don't forget to comment, follow, vote, and resteem. Thanks
Plus Ripple is the only crypto that winks back at you.
Haha that's awesome, great find :)
Yes, and 8.5% alcohol by volume too. That way, when the banks all fail (as pretty much everyone in the crytoid universe is "expecting") at least you as a Ripple holder will have something to drown your sorrows in. But show no fear! This is a "lively" croud here at steemit, all caught up same euphoria of being "bound by bitcoin!" ...and under the "ether" of ethereum...pardon the pun. Always have plenty of ice cold Ripple on hand in case friends drop by. :-)
Nah, banks will never fail. The government won't allow it. Yes, the community here at steemit is great. Very diverse.
The government is us. In 2008 nobody actually got the chance to vote on it. It was kind of just passed through because it was for our own good. Now we saw the results of it. I would be skeeerd to walk the streets of America if I was a congressman who voted to bail out the banks again. :-)