Equilibrium Connect, a project created by Equilibrium Labs and backed by the venture capital arm of Ripple Xpring has recently decided to back Interledger, an important protocol that is being used by Ripple.
According to reports from Decrypt, the idea is to create an open-source tool that can help to access Interledger’s payment protocols and also encourage more people to use it. Up until this point, Equilibrium Connect has created some other projects such as Vanilla, which works as a framework for creating on top of the Ethereum ecosystem.
Now, however, the company is focused on participating on Interledger, which was created by the Chief Technology Officer (CTO) of Ripple at the time Stefan Thomas. Interledger is important to Ripple because it connects the XRP Ledger to other networks and it allows money to be sent more easily online.
The main problem with the Interledger protocol, however, is that nobody is using it right now. The technology can certainly have a major impact if it is actually able to go mainstream, however, this remains the biggest challenge in order to make the platform as successful as it can be.
In order to achieve this goal, Equilibrium Connect wants to create a more powerful infrastructure for the company and to minimize all the issues that the platform currently has. Another part of the plan is to introduce more liquidity to the platform, which is set to grow even more as soon as people start to get interested and use it more frequently.
If the plan works out, then Interledger will finally be able to do what the company was created to do: become a way to link the XRP to the rest of the world for fast payments.