Ripple expands the product suite: RippleNet

Ripple grows its product suite by launching RippleNet
07 August 2017   1843
Ripple

Is a real-time payment protocol, a shared public database with a built-in distributed currency exchange operating as the world's universal translator for money

Ripple, a company that provides global financial settlement solutions to enable the world to exchange value like it already exchanges information giving rise to an Internet of Value (IoV), now announces its product suite expansion by the launch RippleNet.

Blockchain

Distributed database that is used to maintain a continuously growing list of records, called blocks

Thus, RippleNet is a global payments network. According to the Ripple team, this is not new – but "simply an evolution of the growing network that has been building significant momentum". RippleNet is the world’s only enterprise blockchain solution for global payments.

Processing Payments with xCurrent

xCurrent is the new name of the already existing enterprise software solution that banks and other financial institutions currently use to instantly send and receive cross-border payments with end-to-end tracking and bidirectional messaging across RippleNet. Recently, a Rulebook was added, developed to standardize all transactions across the network.

The Interledger Protocol (ILP) is the backbone of the solution and makes it possible for instant payments to be sent across a variety of different networks. 

Sourcing Liquidity with xRapid

xRapid is a new product currently being built for payment providers. Ripple team "uncovered an untapped need for a low-cost liquidity solution for emerging markets". xRapid uniquely uses XRP to lower the liquidity costs of payments in emerging markets. 

Sending Payments with xVia

xVia is also a new product currently in development. xVia is for those who want to send international payments through a bank or payment provider on RippleNet. xVia offers a standard interface as a simple API that enables users to send global payments with transparency into payment status and attach rich payment information, like invoices.

DFINITY to Postpone Internet Computer Launch

The project is currently assessing the time frame for the completion of the MVP
14 December 2018   67

The blockchain project Dfinity reported in its blog postponing the launch of its main product.

Previously, Dfinity chief scientist Dominic Williams said that his company intends to create an “Internet computer that will become cloud 3.0”, compete with Google Cloud and Microsoft Azure, and also change the face of the blockchain industry.

According to him, the project team is developing a technology that has 150 higher performance than Ethereum blockchain and 900 times - Bitcoin. In essence, the project creates a “giant Internet computer”, whose work will be supported not by one company, but by all participants of the Dfinity protocol.

Initially, the release of a minimum viable product (MVP) was planned for the first quarter of 2019. However, according to company representatives, working on a trimmed version may slow down progress in creating a complete product.

The project is currently assessing the time frame for the completion of the MVP. Also, noted in Dfinity, before the end of the first quarter a new set of development tools (SDK) will be released, which will shed light on the future plans of the company.

In August, the Dfinity Foundation attracted $ 102 million of investments in the framework of a closed tokensale. Prior to this, at the beginning of the year, the Dfinity Foundation raised $ 61 million from Andreessen Horowitz and Polychain Capital.