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<ul>
 <li>ILP combined with XRP aims to move money as swiftly as text messages.</li>
 <li>XRP Payment Channels rival Visa’s speed, revolutionizing cross-border payments.</li>
 <li>ILP enables frictionless payments across networks, embracing various digital assets.</li>
</ul>
<p>In today’s interconnected world, where information travels across continents in an instant, the antiquated cross-border payment system seems painfully slow. Banks struggle to handle transactions, often taking three to five days to complete.&nbsp;</p>
<p>But what if we could move money as swiftly as we send a text message? As the post below suggests, combining <a href="https://cryptonewsland.com/bank-of-england-boe-adopts-ripples-interledger/" rel="noopener noreferrer nofollow">Interledger </a><a href="https://cryptonewsland.com/bank-of-england-boe-adopts-ripples-interledger/" target="_blank" rel="noopener noreferrer nofollow">Protocol</a><a href="https://cryptonewsland.com/bank-of-england-boe-adopts-ripples-interledger/" rel="noopener noreferrer nofollow"> (ILP)</a> with Ripple (XRP) could provide a solution.&nbsp;</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"> "HAVING THE COMBINATION FOR <a href="https://twitter.com/hashtag/ILP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#ILP</a> WITH <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRP</a> – THAT´S THE KILLER FORMULA" <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/27a1.png" alt="➡" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/Ripple?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@RIPPLE</a>´S CHRIS LARSEN AND STEFAN THOMAS AT <a href="https://twitter.com/hashtag/GOOGLE?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#GOOGLE</a> TALKS IN 2018 <br><br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/27a1.png" alt="➡" class="wp-smiley" style="height: 1em; max-height: 1em;"> "WE WAITED ALMOST A YEAR TO PUBLISH THE <a href="https://twitter.com/hashtag/ILP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#ILP</a> WHITEPAPER UNTIL WE HAD, IN OUR MINDS, A STRATEGY AROUND, WHAT´S XRP´S ROLE IN… <a href="https://t.co/lasz9R0Tlg" rel="noopener noreferrer nofollow">https://t.co/lasz9R0Tlg</a> <a href="https://t.co/pSneuavRsJ" rel="noopener noreferrer nofollow">pic.twitter.com/pSneuavRsJ</a></p>— XRP DROPZ (@DROPZXRP) <a href="https://twitter.com/DROPZXRP/status/1804824799761379676?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 23, 2024</a>
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<h2 class="wp-block-heading" id="h-the-role-of-xrp-in-enhancing-scalability">The Role of XRP in Enhancing Scalability</h2>
<p>As fintech companies grow, scalability and performance become critical concerns. Those unable to match the transaction throughput of giants like Visa and&nbsp;</p>
<p>American Express risks being left behind.&nbsp;</p>
<p>Ripple aims to address this challenge by enhancing the <a href="https://cryptonewsland.com/anodos-finance-joins-xrp-ledgers-unique-node-list/" rel="noopener noreferrer nofollow">XRP </a><a href="https://cryptonewsland.com/anodos-finance-joins-xrp-ledgers-unique-node-list/" target="_blank" rel="noopener noreferrer nofollow">Ledger</a> and Interledger Protocol (ILP). Two new features—Escrow and Payment Channels—have significantly improved the performance and scalability of the XRP Ledger.&nbsp;</p>
<p>Escrow allows XRP Ledger and ILP to communicate securely. Funds can be locked for a specified time or until specific conditions are met. Imagine holding funds until a service is completed or even until someone’s birthday.&nbsp;</p>
<p>Escrow ensures secure transactions without relying on intermediaries. Additionally, no single institution controls the funds, unlike traditional bank vaults.</p>
<p>On the&nbsp; other hand, XRP Payment Channels boost transaction throughput to tens of thousands per second—on par with Visa. Imagine sending money as swiftly as swiping a credit card. XRP Payment Channels revolutionize cross-border payments, making them faster and more cost-effective.</p>
<h2 class="wp-block-heading" id="h-the-interledger-protocol-ilp">The Interledger Protocol (ILP)</h2>
<p>ILP facilitates payments across multiple networks, allowing direct transactions while accommodating intermediaries where necessary. Transactions in universal mode leverage Ripple’s XRP cryptocurrency as a bridge asset.&nbsp;</p>
<p>This facilitates seamless transfers between untrusted connectors across the ILP network. With ILP, you can send <a href="https://bitcoin.org/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>, and the recipient automatically receives XRP or any other cryptocurrency of their choice.</p>
<p>Combining ILP with Ripple’s XRP creates a powerful synergy. Escrow ensures security, decentralization, and trustless transactions, while XRP Payment Channels catapult scalability to Visa-like levels. Together, they form the Killer Formula—the gateway to the <a href="https://www.researchgate.net/publication/357754004_Defining_the_Internet_of_Value" rel="noopener noreferrer nofollow">Internet </a><a href="https://www.researchgate.net/publication/357754004_Defining_the_Internet_of_Value" target="_blank" rel="noopener noreferrer nofollow">of</a><a href="https://www.researchgate.net/publication/357754004_Defining_the_Internet_of_Value" rel="noopener noreferrer nofollow"> Value</a>.</p>
<h4 class="wp-block-heading" id="h-read-also">Read Also&nbsp;</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/bank-of-england-boe-adopts-ripples-interledger/" rel="noopener noreferrer nofollow">Bank of England (BoE) Adopts Ripple’s Interledger Protocol for Payment Settlement</a></li>
 <li><a href="https://cryptonewsland.com/coca-cola-enters-the-nft-market-with-iconic-art-fusion-on-base-blockchain/" rel="noopener noreferrer nofollow">Coca-Cola Enters the NFT Market with Iconic Art Fusion on Base Blockchain</a></li>
 <li><a href="https://cryptonewsland.com/ripple-secures-800m-xrp-in-escrow-amid-intense-market-movements/" rel="noopener noreferrer nofollow">Ripple Secures 800M XRP in Escrow Amid Intense Market Movements</a></li>
 <li><a href="https://cryptonewsland.com/ripple-and-apple-partner-to-facilitate-tap-to-pay-feature-for-making-transactions-between-iphones/" rel="noopener noreferrer nofollow">Ripple and Apple Partner to Facilitate ‘Tap to Pay’ Feature for Making Transactions Between iPhones</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/ripple-announces-powerful-fusion-with-ilp-is-this-the-rocket-fuel-for-a-new-xrp-ath/" rel="noopener noreferrer nofollow">Ripple Announces Powerful Fusion With ILP, Is This the Rocket Fuel for a New XRP ATH?</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Ripple Announces Powerful Fusion With ILP, Is This the Rocket Fuel for a New XRP ATH?

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