The cryptocurrency markets seem to be on steroids once again. Bitcoin (BTC) has gone past the $8,000 mark; Ethereum (ETH) is now back above $500; Ripple (XRP) is trading at an amazing $0.64; Bitcoin Cash (BCH) is at $774; and Litecoin (LTC) is trading at $131 and has reclaimed the number 5 spot from EOS (EOS – $9.22).
Amidst all this market excitement, is the news that Apple Pay has integrated Ripple’s Interledger protocol. According to the announcement, the update will be rolled out via the Safari browser using both macOS11.1 and iOS11.1. These are the operating systems for Mac computers and iPhones respectively. The Interledger integration hints at the possibility of Apple Pay accepting cryptocurrencies in the near future. If this were to happen, it would mean that users of Apple Pay will be able to use cryptocurrencies for regular purchases in the near future.
So what is Ripple’s Interledger Protocol?
Interledger is an open protocol suite for sending payments across different ledgers. Like routers on the Internet, connectors route packets of money across independent payment networks. The open architecture and minimal protocol enable interoperability for any value transfer system. Interledger is not tied to any one company, blockchain, or currency.
This means that Interledger can be used even by banks and other payment settlement solution providers. It allows for different back-end systems to communicate with each other in a manner that was up until now, a hustle for banks. Previous to interledger, sending payments across the globe took days. And as Brad Garlinghouse once said during a Bloomberg interview, it was easier to pack the cash in a bag and fly it over to the other bank physically.
With Ripple news streaming in every day and with the current market momentum that is exciting everyone in the crypot-verse, it is possible to fulfill the numerous Ripple price predictions that have been floating around the web.
$1 looks like a week away if the current momentum continues. With the usual slight corrections, we could reach the $4 by the end of June and $10 earlier than the December expectation by many Ripplers.
Molly Jane is a Russian Literature major from California with a background in writing. She joins CurrencyTimes after working as a freelance journalist and blogger.