Ripple continues to move on in the market with incredible speed. The high-quality functionality of Ripple technologies is becoming more interesting to various organizations.
Today Ripple’s Xpring introduces Hyperledger Quilt v1.0. The new implementation of the Java Interledger protocol will be able to transfer money on any payment network.
— Xpring (@XpringDev) November 1, 2019
“Today we take our mission of enabling interoperability for all money one step further with a Java implementation of Interledger – introducing Quilt 1.0.”
Interledger provides financial institution with unlimited scalable money transfer infrastructure and complete privacy of transaction data. Note that transaction privacy implies that not all transaction information will be recorded on the distributed ledgers.
At the same time, any developer can use the software. Therefore, Xpring will be able to provide a reliable management structure, accompanied by business technologies and partners, as well as major developers.
In other words, Interledger permits transactions between different registrars using a cryptographic analog of the guarantor.
The main goal of Ripple’s division is to create a solution that will facilitate the deployment of innovative blockchain applications. Moreover, the latest release of the new version of Quilt 1.0 (the Java implementation of Interledger) is another step towards this goal.
As we know, Java is an extremely popular programming language in the world with millions of implementations. In turn, Quilt will be able to facilitate the process of creating a library for Interledger payments.
“With the release of 1.0 Hyperledger Quilt, the Java ecosystem now supports almost all Interledger primitives, including streaming payments,” states Xpring.
Quilt 1.0: Expectations
According to Ripple, this protocol will greatly simplify international and interbank payments. A detailed specification explaining how Quilt will work is available on Github website.
In fact, there is nothing complicated in creating the payment through Interledger. The protocol includes several standards that can be applied to any method of making payments if there are an address, two-factor authentication, and signatures.
Supporters of Ripple XRP excitedly accepted the news. Perhaps this solution will help create Internet of value. Such a large-scale global distributed registry, which would work with millions of computers and is accessible to absolutely everyone. This is not so far away, and the company is taking steps to implement its plan. The fact that the Ripple Interledger ecosystem continues to grow is in itself a positive moment on all hands.