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by martijn9612
2177 days ago
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My understanding is that Interledger is the backend which Coil uses to send payments. Interledger is able to use multiple currencies, ranging from crypto to fiat. Ripple is mostly just building the infrastructure for it, enabling growth in the crypto ecosystem. I think, for them, the payoff would be that using XRP is be the cheapest solution in the end, which would make it interesting. Also quite important, they also directly benefit from there being more entries in all orderbooks, since their software will be more efficient (ODL, on-demand liquidity). They have a benefit for the entire (all cryptos) ecosystem to thrive. |
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Interledger (interledger.org) is a protocol stack and a network. The network consists of a number of companies that have setup arrangements to settle payments between them via different payment rails and implemented the Interledger protocol to make those payments.
The Interledger network is used to send payments between these companies consisting of millions of tiny packets (each worth nano-cents) allowing for very small amounts to be sent at close to zero cost.
Coil is one of the companies using the Interledger network as it is perfect for our use case of Web Monetization (which is only viable on a payment network that allows very small payments without a fixed fee).
We originally developed the Interledger protocol at Ripple and there are still folks at Ripple that participate in the community. I think Ripple's incentive for seeing Interledger succeed are well described above.