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

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Ripple

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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Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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