We are very excited to announce that Ripple’s Xpring has invested in the newly created Equilibrium Connect. The new company will be focused on building open source developer tools for the Interledger ecosystem and working on the core protocol. We strongly believe the world needs a standardised interface for payments and see Interledger as the only technology available right now with a viable model for delivering on that vision.
What is Interledger?
Interledger is a protocol with which a network of so called “Connectors” can coordinate to route payments across any system and geography. These connectors are centrally operated, giving them the flexibility to support any current or future system, but trust-minimized due to a concept called “packetisation”, which means a Connector can only ever hold a tiny fraction of users money at a time. Furthermore, Interledger is not owned or controlled by anyone. There are no explicit financial incentives, no token or enforced fees, but rather each Connector can decide for themselves how to monetize their services and even more importantly, they can innovate on their business model. This is why we like Interledger so much. It doesn’t make assumptions on how the world should be, but rather offers the tools for creating the world we want for ourselves. Learn more about Interledger here.
Equilibrium Connect was birthed to support the ongoing development of the Interledger protocol and grow the ecosystem by building tools to make it easier for developers to integrate Interledger into their applications. Our initial roadmap consists of three primary projects:
1. Open Source Interledger Connector — We will build and operate a multi-currency Connector (Initial support for BTC, ETH and XRP) and make all the code open source.
2. Web Services — We will provide a simple web API allowing applications to interact with the Interledger network and quickly move funds between networks, shards or traditional payment systems.
3. On-boarding — We will be designing and implementing an easy and compliant on-boarding experience for users across the network.
We will be elaborating more on this roadmap in the coming months as well as providing a more in-depth analysis of Interledger and why we believe it is going to become a standard interface for payments. For now, suffice to say we are very excited to be working with Evan, Danny and the rest of the Interledger community.