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

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Ripple's CTO clarifies that Interledger Protocol [ILP] is not connected to the RippleNet yet
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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: https://ripple.com/files/ripple_product_overview.pdf … 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.”





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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.

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    Ben

    February 18, 2019 at 1:31 AM

    Having been a developer myself. I understand what D Schwartz is saying.
    Originally it was their intention to integrate ILP with RippleNet. I’m sure they started to go that route. But as RippleNet protocols evolved, due to ongoing changes. It became increasing difficult to port and maintain changes to ILP. Thus integrate must wait until RippleNet protocols is locked down.

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XRP

Ripple’s initiative invests in Bolt Labs to improve secondary payment channels and expand interoperability

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Ripple’s arm, Xpring which invests and incubates in companies and individuals which help improve the XRP ecosystem, invested in Bolt Labs. With the new investment, Xpring hopes to develop solutions that will help improve the security of secondary payment channels and increase the interoperability by integrating with the ILP.

Bolt is a private, off-chain scaling solution which was built on top of Z-cash, a privacy-focused cryptocurrency, has attracted more than a few well-known investors in the crypto-space and Ripple’s Xpring is one among them. In a blog, Bolt Labs said that their solution will focus not only on ZCash but also other publicly available cryptocurrencies that do not have inherent on-chain privacy features.

It also stated:

“The potential for these implementations to be networked together with technologies like Interledger opens the potential further for cross-chain interactions with these privacy guarantees baked in.”

The above statement suggests that they might have a “potential” implementation for these on Interledger Protocol [ILP]. ILP was created at Ripple developed by the Interledger W3C Community Group. ILP aims at connecting two different blockchains, to integrate two different ledgers and have seamless operations between them.



This would vastly benefit the payments industry, which is facing a revolution at the hands of a nascent technology like blockchain. Ripple, a payments provider, which is leveraging cryptocurrency and blockchain to facilitate faster payments, would benefit largely from this partnership. In addition, this could also signify a potential development on the  XRP Ledger and its on-chain/off-chain privacy and the currency, XRP.

A Twitter user @XRPCentre tweeted:

“If the solutions being developed by the company are able to improve the privacy of the ILP transactions, they would also be enhancing the privacy of XRP/ILP payments, which is a very demanded feature…. It’s all about interoperability and destroying network effects. If ILP succeeds in being the best protocol for cross-protocol/ledger transactions, you’d naturally search for the best asset therein.”





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