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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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Blockchain-Focused ETF Arrives on London Stock Exchange

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The crypto community is still waiting for the US SEC to approve Bitcoin ETFs, with speculation which application might get approval being one of the hottest topics in 2018. However, come 2019, the US government shutdown dragged on, and the Bitcoin ETF request which had the most potential to see a grant got withdrawn by the very companies that submitted the application.

While the question of BTC ETF remains hanging in the air, blockchain-focused ETFs seem to be a different matter entirely. In a recent announcement by an independent investment managed firm called Invesco, the company has stated that it was about to launch the largest blockchain-focused ETF in the world. They managed to go through with this plan, and the ETFs have reached the London Stock Exchange today, March 11th.

The exchange-traded fund includes a portfolio containing as many as 48 different firms which are bringing exposure to the emerging technology. Among them, there is Taiwan Semiconductor Manufacturing, which is a well-known creator of chips used for crypto mining, as well as the CME Group, which is the first regulated exchange in the US which launched Bitcoin futures. There are many other well-known companies as well, such as Intel, Microsoft, and others.

Chris Mellor, the Invesco’s head of ETF equity product management in Europe, said that blockchain has a huge potential to increase earnings, even though…

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Could Jeff Bezos Turn to Bitcoin to Hide Fortune from Wife?

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Amazon’s Jeff Bezos has made numerous headlines recently due to his overly-publicized divorce, which shows all signs of being one of the most expensive ones — if not THE most expensive one — in modern history. According to estimates, it might cost him as much as $70 billion, which will make his soon-to-be-ex-wife the richest woman in human history.

However, as the process continues to unfold, many have started wondering if things may have ended up differently for Bezos if he turned to Bitcoin for help.

Bitcoin as a divorce tool?

In the last several years — since Bitcoin and other cryptos hit fame — many have started turning to BTC during their divorce proceedings. In fact, it can even be said that using the largest cryptocurrency in this way has become a new trend. The trend has been gaining so much strength that numerous law companies started including advice on what to do in regards to Bitcoin as part of their websites.

However, while the trend has been picking up in recent years, it is nowhere near as easy as it might seem. For example, if there is even a suspicion of a spouse having undisclosed holdings appears during the divorce process, it might be enough to impact the final decision of the judge. In other words, even if there is a complete lack of evidence, but…

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Three Biggest Things To Know Come Cryptocurrency Tax Season

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In recent years, digital cash systems known as cryptocurrencies such as Bitcoin and Litecoin have exploded into the public eye. A blend of cash and stocks, their use and value has grown exponentially. In 2017, the IRS decided to focus great effort on taxing them. In theory, this should be as simple as calculating taxes on any other type of property, bond, or other assets. Cryptocurrency, however, presents a unique challenge. The full extent of one person’s crypto activity can stretch across dozens of platforms and take a variety of different forms. This makes it difficult to gather all of this information cohesively, much less begin the seemingly- complicated process of reporting it.

These three tips should help anyone looking to legally report their crypto activity to figure out where to start.

Documentation is key!

There are dozens of different “exchanges” individuals can use to change their cash into crypto. When the flat currency is changed into cryptocurrency at the exchange, you establish your cost basis. This makes this data crucial when you begin the process of reporting.  Those who have used a variety of different exchanges should keep detailed records of everywhere that they made trades. Once tax season arrives, most exchanges will allow users to view their entire trading history with that exchange. This information will be necessary later to complete taxes.

Calculate your total gains

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