The announcement of a new partnership Ripple, indeed, appear very often. However, all involved in this cryptoprocta expect a full interchange many hopes: when Western Union will announce whether it will use XRP for cross-border payments? When MoneyGram will do the same? Will Santander the first Bank to launch mobile applications XRP, allowing individuals to carry out cross-border transactions and payments with one touch? According to analysts, there is a reason for all this “fading” process.
Ripple the company expects will be executed the basic agreement for XRP is the much –anticipated algorithm update, which now employs engineers XRP. Technical documentation is published on the website of registry computer science Cornell University under the title “Cobalt: BFT in open networks” Ethan, Makbro, one of the developers of Ripple, in whose hands, apparently, now is the future speed XRP.
Thanks to the Cobalt algorithm speed and reliability of XRP will increase dramatically, reducing the speed of cross-border transactions of all XRP to 1 second is 75% faster than the current 3-4 seconds required to complete the transaction.
Although the rate of the cryptocurrency is the obverse side of the coin, probably the most exciting aspect of the update Cobalt is that it significantly increases the reliability of the decentralized nature of XRP, since it goes far beyond the current Protocol to the decentralization of Bitcoin, Ethereum and other blockchains. Update transaction XRP will be very stable even in the presence of malicious participants.
According to published documents, the Cobalt will give XRP algorithm, “which works in networks with uneven confidence and without a global agreement with the participants, and probably will provide the guaranteed progress even in the presence of the maximum errors and arbitrary asynchrony”. This will greatly increase the flow of XRP, making it less likely that transactions XRP “stuck”.
The Cobalt algorithm for XRP should cause the system not to stop. In case of delays in the transmission system will be XRP’s just to slow. This feature of Cobalt enhances the security of the financial systems that you plan to use XRP in cross-border payments and other financial transactions.
According to some sources, the update Cobalt being released very soon. However, the exact data on this: this can happen in the next few days and in the next few weeks or even months. However, the transition to the algorithm of Cobalt is important. According to experts, when the update comes out, all the ads that banking and financial institutions are going to give the XRP will finally happen.
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