Ripple Cobalt Not Coming Up Any Time Soon - Ripple (XRP) News
Still no release date for Ripple Cobalt, according to Coil lead scientist
He also believes that if there were, it wouldn’t be anytime soon
Coil lead scientist and former employee at Ripple, Ethan MacBrough, has recently revealed that the company behind the blockchain-based payment protocol still has not established a release date for its network upgrade, Cobalt, and even if they did, it wouldn’t be for the near future. He asserted this in response to a Twitterati asking for a release date.
“There is no release date planned, and if there were it wouldn't be soon,” he posted in a tweet.
MacBrough – who in February 2018 published a 49-page document describing the Byzantine Fault Tolerant (BFT) governance update for the RippleNet – also commented that the reason he knows that is because he still interacts with the dev team at Ripple. The same applies for several of his now co-workers at Coil, a company founded by Ripple’s former CTO Stefan Thomas that allow content creators to monetize their contributions in an efficient way, and by using the XRP as currency.
From 4 seconds to less than 1: Ripple Cobalt
One of Ripple’s main focus revolves around speed. Their developments are all about faster transactions using the platforms they are building on top of the blockchain technology, and its associated cryptocurrency, the XRP. As of yet, any transaction carried out on the RippleNet takes as long as 4 seconds, and while that is way faster than traditional payment processors such as Wester Union – which takes days to move funds between sender and recipient – the San Francisco-based company is looking to reduce this delay to barely one second.
In order to achieve that, Ripple has been developing an update for its algorithm – Cobalt – which besides the lag reduction in movement of funds, it will also contribute to make the network more solid and trustworthy.
“The exact properties that Cobalt satisfies makes it particularly applicable to designing an efficient decentralized “voting network” that allows a public, open-entry group of nodes to agree on changes to some shared set of rules in a fair and consistent manner while tolerating some trusted nodes and arbitrarily many untrusted nodes behaving maliciously,” reads the abstract of Cobalt’s whitepaper.
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