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STELLA – joint research project of the European Central Bank and the Bank of Japan

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Results of experiments Several patterns of synchronised settlement have been tested with successful results, including settlement between DLT ledgers, between centralised ledgers and between a DLT ledger and a centralised ledger using ILP, a specification of the transfer protocol introduced in the Interledger whitepaper. Synchronised settlement without using ILP on DLT ledgers is also feasible, and therefore using ILP is not a necessary requirement for synchronised settlement. Nevertheless, ILP could facilitate the abstraction of different types of ledgers, and therefore could bring about the benefit of standardisation.

http://www.boj.or.jp/announcements/release_2019/data/rel190604a1.pdf

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Posted (edited)
2 hours ago, tvde said:

RIPPL or XR would have been a better name than STELLA :)

Don't be daft, punk. 

https://youtu.be/3Qxe-QOp_-s

I recommend skipping to 14:50. 

Edited by Guest

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Bank of England also laid out a potential model for synchronised payment settlement which involves a trusted third party that offers synchronisation services which could be applied to simultaneous settlement across ledgers and currencies.11Bank of Canada and the Monetary Authority of Singapore explored interoperability between two DLT platforms using Hashed Timelock Contracts (HTLC12), which were also studied in the second phase of Project Stella.13 They simulated a cross-border high-value transfer across DLT-based RTGS systems on different platforms.

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2.1.2 Ripple has developed xCurrent, which connects financial institutions via a global network of participating entities (RippleNet). xCurrent is built around ILP and enables bidirectional communication between participating entities and coordination of payments across ledgers.

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I thin this is Ripplenet using XRP :In conclusion, from a technical perspective, the safety of today’s cross-border payments could potentially be improved by using payment methods that synchronise payments and lock funds along the payment chain. It should, however, be noted that further reflections on legal and compliance issues, the maturity of the technology and a cost-benefit analysis would be required before the possible implementation of such new methods could be considered.

Crypto Eri really understands this stuff so watching her video is the easiest way to get a feel for how important this development is for XRP

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"Participants can assume three roles within the Interledger Protocol: that of a Sender, Receiver, or Connector. Connectors are entities with accounts on two or more ledgers who act as liquidity providers that relay payments across ledgers and play a critical role for the successful execution of cross-ledger payments."

"we conducted experiments to examine the feasibility of synchronised settlement across different ledgers using the ideas introduced in the Interledger whitepaper about universal interledger payments."

"Five Bells Ledger was adopted as a centralised ledger and ilpplugin-bells was used as a plugin for client applications of participants to connect to Five Bells Ledger."

Five Bells Ledger??? 

According to CNN, Ripple owns the Five Bells ledger. "Ripple’s centralized Five Bells Ledger and a so-called ‘trustline’ were also used in the transaction." This article has nothing to due with the posted article. 

https://www.coindesk.com/interoperability-boost-ripple-sends-blockchain-transaction-across-7-different-ledgers

AND Ripple published code for integration testing purposes (https://www.npmjs.com/~interledger)

Fivebells.png.c55f52620cf3cb4ae587a705e4514f03.png

C'mon man, the only thing this publication didn't mention was that they were working directly with Ripple. Writing is on the walls. 

 

On 6/4/2019 at 3:25 AM, xrpmommy said:

Several patterns of synchronised settlement have been tested with successful results, including settlement between DLT ledgers, between centralised ledgers and between a DLT ledger and a centralised ledger using ILP

Synchronized settlement? Where have I heard that before? 

 

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22 hours ago, ObeyTheWafflehouse said:

 

Synchronized settlement? Where have I heard that before? 

 

"Synchronisation" will be the buzzword for the next few years. That "even playing field" cannot be achieved if everybody is designing their cars to work on the roads they themselves designed leading to different standards.  One single highway to connect them all and let fintechs and banks duke it out in terms of service and price!

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3 hours ago, GrayFox said:

"Synchronisation" will be the buzzword for the next few years. That "even playing field" cannot be achieved if everybody is designing their cars to work on the roads they themselves designed leading to different standards.  One single highway to connect them all and let fintechs and banks duke it out in terms of service and price!

A global convergence towards a universal protocol (running on Ripple's ILP)

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