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.
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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
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…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
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…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
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…