The University of Toronto, renowned as Canada’s largest university in terms of enrollment, has entered into a partnership with Ripple, a San Francisco-based technology company founded in 2012. This collaboration aims to advance blockchain research and empower students with valuable skills for the cryptocurrency industry. As part of the partnership, the university will operate an independent XRP Ledger (XRPL) validator with a specific focus on payment processing.
Becoming an XRPL Validator
By assuming the role of an XRPL validator, the University of Toronto will actively participate in Ripple’s consensus process, which is designed to enhance the decentralization of the XRP Ledger. The university’s validator will be evaluated based on important factors such as consistency, transparency, availability, and reliability, just like any other node on the network.
The university’s involvement in the XRPL validator program falls under Ripple’s Blockchain Research Initiative (UBRI) in Canada. Since the inception of the program in 2018, Ripple has made substantial investments of $2 million in leading colleges and universities across the country. This initiative aims to support blockchain research and provide students with the necessary skills to pursue a career in the crypto industry.
Ripple expressed its enthusiasm for the collaboration through a statement saying: This UBRI collaboration strengthens our program’s support for blockchain research in Canada and empowers students with valuable skills for a career in the crypto industry.
Conclusion
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By running an independent XRPL validator, the university will actively contribute to the decentralization of the XRP Ledger while providing valuable learning opportunities for students. This collaboration showcases Ripple’s commitment to supporting academic institutions and promoting the growth of blockchain technology in Canada.
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