XRP mechanism demonstrated by r3 for its new adoption journey with Corda Settler

Yesterday, the second-largest cryptocurrency in the world, XRP, achieved major adoption goals when it was picked by the blockchain solutions firm, r3 as the first settlement mechanism for Corda Settler. Post the news, r3 posted a YouTube video on its channel, explaining the working behind the Settler. Here, r3 also wrote:

“Corda Settler is an open-source CorDapp to help Corda users settle transactions. Corda Settler provides a bridge to any payment rail that can return a cryptographic proof of settlement. This includes any ‘traditional’ domestic and cross border payment systems able to return such a proof, as well as blockchain and cryptocurrency-based rails.”

The video began with the explanation of what the Settler does, stating that there are two legs of the transaction wherein one leg creates an obligation to complete the other leg. Furthermore, Corda Settler allows uses to complete the second leg on any system, whether it is an on-blockchain rail, a cryptocurrency system or…

Read Full Story : AMBCrypto

2018-12-06 16:30:56

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