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Ripple (XRP) relaunches Smart Contract Codius. Real Ethereum killer?

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Ripple is undeniably dominating the cryptocurrency news cycle with announcements of the new partnership, global events, and new products. Their partnership with major financial institutions and banks places them at the leading position of blockchain’s general adoption with traditional corporate giants like Santander, MoneyGram, Standard Chartered, and Western Union utilizing their platform.

Alongside these profitable pursuits, XRP’s recent donation of $50 million to Universities brought a major amount of good publicity to the cryptocurrency industry. Also, their accomplishment towards DonorsChoose.org crowdfunding campaign made it to the famous Stephen Colbert’s late-night show rocking the airwaves.

Despite their successes, Ripple (XRP) team has avoided one blockchain factor since 2015. That blockchain factor is Smart contracts for decentralized applications. Their decision to suspend their original smart contract, Codius, four years ago made sense at the time. The platform did not have a substantial market and lacked standard transactions on the smart contract environment.

Yesterday, former CTO of Ripple, Stefan Thomas, announced the revival of the smart contract platform, Codius, that will be geared towards changing the way sites validate their content.

History of Codius and its Comeback

Smart contracts are creating a lot of buzzes yet many of you have never encountered it in your daily transaction activities. Some say that no valuable real-world merchandise use them, Reason? Many regards it to be too new and too complicated to bother investing time or energy in understanding it.

For a long time, smart contracts have prevailed mostly in writing and thesis despite their inauguration in 2014 to the market. Ethereum’s blockchain has some working examples of this phenomenon, but their technological intricacy holds them back from entering the mainstream, something Stefan Thomas hopes to change. Undoubtedly, if Ripple succeeds in changing that, the crypto will more likely rise as a ‘real’ Ethereum killer.

On Wednesday, Coil corporation, Thomas’s new company, hinted to the media on possessing a product that could make it easy to write and utilize smart contracts at minimum charges.

Thomas describes the product being an operating system for the blockchain naming it Codius.

What is Codius?

Speaking to Fortune, Thomas defined it as,

“Codius is an open source hosting platform available for anyone who wants a secure platform to built or host a smart contract. The same way cloud computing made web hosting more accessible, Codius will make experimentation on the blockchain more widely available because people won’t need to build from scratch.”

The cryptocurrency market now is much different. The market size has grown exponentially for smart contracts which are now a regular attribute of many blockchain platforms. Also, the smart contract is emerging to be an appealing add-on for traditional businesses engaging in blockchain technology.

If Ripple manages to create an easy to use and flawless smart contract platform, they could grow their returns even beyond their already admirable array.

The idea of reviving the platform was floated as early as August 2017 by Ripple’s CTO, Stefan Thomas, but due to the shaky market trends that were faced in the last half of 2017 and early 2018 proved to be difficult to actualize. Now that the market has started to stabilize and normalcy is back, it will make a lot of logical sense for Ripple to consider looking into new product lines.

Consequently, it looks like Codius and Ripple are interdependent. Codius uses Ripple’s interledger as its payment mechanism, which promises to offer Ripple higher returns if the new smart contract gains momentum.

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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.

Image courtesy of Pxhere.com

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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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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