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Ripple Introduces Codius – A New Platform for Smart Contracts for the XRP Blockchain

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Developers at Ripple (XRP) are planning to release a new platform for smart contracts named Codius. When launched, it will grant XRP the similar functionality as the one that Ethereum can offer. Ripple users will be able to lock into these smart contracts which will be blockchain-secured.

What is there to know about Codius

Codius is a new platform for smart contracts that is currently still in development by the Ripple (XRP) team. It was mentioned in various headlines since the end of the last year when Ripple announced the development of the project. Even so, the name Codius was first mentioned in 2014, but the project was canceled by June of the following year. According to Ripple, the project was canceled because the market was not yet ready for smart contracts.

The project was re-launched in November 2017, and it has been in development since.

Ripple’s tagline for the project says “Where smart programs live”. It is supposed to be an open hosting protocol, and its design will allow the creation of a system that will support smart contract and add them to Ripple’s ecosystem.

The whitepaper from 2014 explains the platform in detail, and it was published by Ripple Labs chief technology officer Stefan Thomas, as well as Evan Schwartz.

The whitepaper describes Codius as a way to make the process of decentralization much easier. They also wish to improve the Ripple network’s capabilities, so that it would become the best-decentralized solution for the ecosystem involving financial institutions like banks or big enterprises.

The details about the project’s current status are not known for now. There is no launch date, and Ripple seems to be keeping very quiet about its advancement. As far as we know now, the platform could be launched this summer, or it could be a complete backburner, there is simply no way of telling.

How will Codius add smart contracts?

According to what is currently known, the latest version of this platform is still being developed. However, once it goes live, it should be able to offer several features.

Those will include multiple things like speed, for example. Codius is expected to be as fast as native Ripple, according to the known information. Next, it is also expected to have extreme security, with its sandboxing being called the state of the art. Rogue smart contracts won’t be able to target any of the network’s critical components thanks to the fact that applications will be completely isolated from each other, as well as from the host.

Another feature will involve JavaScript so that learning programming languages won’t be necessary in order for one to use Codius. It will also offer the use of the micropayments system that will be already built-in so that the applications can pay each other with ease.

Its design will even be integrated for enterprise and banking roles, which will make Codius one of the crucial components for the financial network of Ripple.

Finally, it will also be able to connect to pretty much anything that has an internet connection.

When will it go live

This is a project shrouded in mystery, and not much is known about it, even after all this time. It was announced 4 years ago but canceled 3 years ago, Last year, it was brought back, but it isn’t clear what is going on with its development as of May 2018.

Whatever is going on, everyone who is waiting for this project’s release date will simply have to be patient and wait for some news from Ripple.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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