Ripple’s XRP Ledger Ecosystem Expands

Announcements, Blockchain, FinTech | July 19, 2017 By:

Distributed ledger software provider Ripple has expanded its XRP Ledger ecosystem to 55 validator nodes.

XRP Ledger is an enterprise blockchain supporting the institutional use case of cross-border payments, especially for banks and payments providers around the world who need more efficient liquidity and greater access to emerging markets.

The new validators include WorldLink, Telindus-Proximus Group, Bahnhof (Swedish ISP) and AT TOKYO Corporation. They have joined existing companies and organizations currently validating transactions on the XRP Ledger, including Microsoft, Massachusetts Institute of Technology (MIT) and CGI.

Ripple also plan to add two third-party validators to the XRP Ledger’s Unique Node Lists (UNLs) in the coming months. The company said UNLs are an important subset of trusted nodes that can validate transactions, vote on protocol changes via amendments, and modify fees on ledger. While bitcoin chooses validators solely on mining power, XRP Ledger validators are chosen based on performance, reliability, and security.

“Last month, we shared our strategy to make the XRP Ledger more decentralized,” said Ripple Corporate Communications Manager Sarah Marquer. “We are committed to continued diversification and decentralization of the XRP Ledger validator ecosystem to further increase its resiliency and robustness. Ensuring our enterprise-ready public blockchain is as strong as possible through additional validators is necessary to make XRP the globally preferred digital asset for payments.”

“We believe Ripple’s network will revolutionize commerce in the future and the way our customers do business, and that’s why we have chosen to run a validator node on the XRP Ledger,” said Mathew Pulickel, Senior Vice President, Emerging Technology at WorldLink. “In the same way that communication and document sharing dramatically improved with email, Ripple and the digital asset XRP will have an equally impactful effect on the time and cost associated with cross-border payments.”