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Ripple's Distributed Ledger Network Passes 50-Validator Milestone | Pitchily
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Ripple's Distributed Ledger Network Passes 50-Validator Milestone

Cryptocurrency

Ripple's Distributed Ledger Network Passes 50-Validator Milestone


Distributed ledger software provider Ripple has more than doubled the size of its network in less than two months, according to information provided exclusively to CoinDesk.

Since May, the inter-bank payments startup has grown its validator network by 140% to include 55 participants, all of whom are now maintaining the integrity of the XRP Ledger (formerly the Ripple Consensus Ledger), running software that helps it agree on the order in which transactions are settled.

Newly revealed validators include WorldLink, Telindus-Proximus Group, Swedish ISP, Bahnhof and AT TOKYO Corporation, a data center and systems integration service provider.

Ripple CTO Stefan Thomas told CoinDesk:

“Our new and existing validators represent some of the top enterprise hosting providers in the world. By expanding and diversifying this group, we ensure that the security and performance of XRP Ledger continues to outperform other digital assets.”

With the news, the companies join previously announced validators such as Microsoft, MIT and CGI.

Further, the announcement helps paint a picture of how the XRP Ledger is evolving in line with the desire of users to leverage its native cryptocurrency.

The token has so far experienced a tumultuous year, reaching an all-time high of $0.33 in May before declining to its current price of $0.18.

In the coming months, Ripple plans to add two new third-party validators to its unique node lists (UNLs) of trusted node operators.

Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Ripple.

Node illustration image via Shutterstock

The leader in blockchain news, CoinDesk is an independent media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Have breaking news or a story tip to send to our journalists? Contact us at [email protected].



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