Each participant operated its own version of the ledger, rather than having the participants act as nodes in a single distributed ledger, the report said. Nevertheless, the participants were able to settle both sides of transactions simultaneously, finding a massive speed boost compared to the current system. While the report detailed some of the technical aspects of the test – it used an undisclosed permissioned blockchain network and was written in the Rust programming language – it did not provide many details about how the simulation was conducted or how they confirmed transaction settlements.
Related posts
-
China and UAE Praise Potential Role of CBDCs in Cross-Border Trade
China and the United Arab Emirates (UAE) have acknowledged... -
May Shatters Bitcoin Transaction Records, Highlighting a Year of Unparalleled Achievements
According to recent data, May has set new records for milestones within the Bitcoin network. Following... -
Ripple Report: Crypto and CBDCs Transforming Global Payments
Ripple’s recently published 2023 Trends in Regional Payments ebook...