Ripple’s CTO clarifies that Interledger Protocol [ILP] is not connected to the RippleNet yet

David Schwartz, the Chief Technological Officer at Ripple, clarified that ILP is not linked to RippleNet and speculated as to when they will be connected.
A Twitter user, @ipinky77 tweeted:
“Do I need to worry? RippleNet is NOT ILP compatible yet? “
This was because of the recent post by Evan Schwartz, the creator of Interledger Protocol [ILP] which stated that Ripple’s Network of banks was currently not connected to or accessible from the open Interledger and that Ripple’s products use a number of other proprietary protocols on top of an ILP-inspired foundation.
He further noted:
“It is possible that both of these could change in the future if there’s a demand from banks to connect to the open interledger, but that’s a decent ways off.”
Interledger protocol [ILP] was developed by two people, Stefan Thomas & Evan Schwartz to facilitate the transactions between two different ledgers with different currencies to go through with ease and less friction than the current fiat system. Through ILP it is possible to enable payments between any ledgers, creating a global graph of liquidity or Interledger.
The user Michael iPinky7 [@ipink77] further referenced a “Ripple Insight” article which stated that Ripple’s solution for banks, xCurrent was built around an open, neutral protocol, the Interledger Protocol [ILP], which would provide interoperability between different ledgers.
Michael iPinky7 stated:
“here it is quite clear: RippleNet IS based on ILP: … now as I have found other “misleading” info in Ripple’s public docu I am still unsure which is correct now.”
David Schwartz, the CTO of Ripple commented that ILP wasn’t stable enough to build production code on when RippleNet protocols needed to be locked down.
He continued:
“So RN use an older version that was ready then. Convergence will be doable when use cases emerge. My gut says that’s at least a year away, but who knows?”
A Twitter user, @placedonhodl commented:
“I believe what he is saying is exactly what we already knew. Banks are not using ILP as they are not using xRapid. They are using xCurrent which uses Interledger-inspired DLT.”
The post Ripple’s CTO clarifies that Interledger Protocol [ILP] is not connected to the RippleNet yet appeared first on AMBCrypto.
Source: AMB Crypto

Ripple and XRP inching closer to disrupt the gaming industry; Brad Garlinghouse confirms games on XRPL

During the Davos conference, Ripple’s CEO, Brad Garlinghouse mentioned that games were being built on the XRP Ledger. Considering Ripple being a payments company, this recent revelation took the community by surprise.
The Ethereal panel at Davos had Brian Behlendorf, Ethereum, and ConsenSys’ Joseph Lubin and Ripple’s CEO, Brad Garlinghouse who discussed various topics ranging from payments/remittance solutions to games being developed on the blockchain technology.
The discussion about games on blockchain erupted as Zynga’s developer, Eric Schiermeyer asked the panel if the blockchain for gaming industry was underhyped.
Garlinghouse stepped in to answer the question. He said:
“I think this is one area where blockchain use is underhyped… it is incredibly interesting in terms of which underlying blockchain is most efficient… I think there’s a couple being built upon the XRP Ledger and I think it’s gonna be very interesting space to watch in 2019.”
As surprising as the above sounds there are actually proofs to support Garlinghouse’s statements. Connecting the dots, Ripple has already partnered with Microsoft in 2015. Moreover, Microsoft’s Azure Blockchain as a Service [BaaS] which is being led by Marley Gray ultimately focuses on the payments. With Ripple’s Interledger Protocol payments and remittance doesn’t seem so far-fetched.
In addition to Ripple and Microsoft’s partnership, R3 is an enterprise blockchain software firm with over 300 partnerships which includes Microsoft. R3 has built a customer base which can use their Corda Network and CorDapps to create an ecosystem for easier and instant payments.
Microsoft, in a press release, said:
“Microsoft is expanding its strategic partnership with R3 to more deeply integrate R3’s distributed ledger platform, Corda and R3Net, with Azure.”
The second strategic partnership that Ripple has struck is with GSR, which brings the dreams of games on the XRP Ledger closer to reality.
GSR, a pioneer in electronic trading of digital assets, utilizing proprietary technology built in-house to provide liquidity solutions globally since 2013. Moreover, GSR became one of the first market-makers on Ripple’s Consensus Ledger.
The CEO of GSR, Cristian Gil spoke about how the gaming industry is an untapped market that can prosper with the right technology like blockchain. He said that gamers usually purchase in-game items which becomes relatively useless and that there isn’t any trusted platform to perform such actions. Gil added:
“I guess it was a natural next step to use Ripple protocol to allow the users, the citizen of Beach Head to trade these different digital assets.”
Gil continued that he will be leading the market making for the Beach Head project and make sure that there is a liquid market and it offers other tokens like XRP, Bitcoin [BTC], Ether [ETH].
The CTO of Blockchain Economy Director responsible for creating the crypto-economy in the game, Alexis Sirkia, said:
“The Ripple Trading Engine will act like a matching engine which is distributed and trustless. Ripple Engine is the only distributed trading engine that is mature enough to be used. It has a settling time of only four seconds and is a perfect vehicle for trading.
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Source: AMB Crypto