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Ripple (XRP) Resurrects Smart Contract Platform Codius

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Ripple continues to dominate the cryptocurrency news cycle, between new products, new partnerships, and global events. Their work with major financial institutions places them at the forefront of blockchain’s general adoption. Among their clients are traditional corporate giants like Western Union, Santander, and even IBM. Alongside these profitable ventures, Ripple’s recent philanthropy work brought a major amount of good press to the cryptocurrency industry. Their fulfillment of every crowdfunding campaign on DonorsChoose.org made the television airwaves on Stephen Colbert’s late-night show.

Yet there’s one blockchain factor that Ripple avoided since 2015. Smart contracts for decentralized applications have been notably absent. Their decision to shelve Codius, their native smart contract platform, made sense at the time. Smart contracts were not proven technology, and Ethereum’s creation did not happen until a month later. Now that smart contracts are a regular factor of cryptocurrency projects, it would seem Ripple is back in the game. Codius’ site is back up and working.

Codius History and Revival

Originally announced in 2014, Codius began as a means for ‘distributed apps’ to run on the Ripple platform. Terminology and operations changed since then, but the general idea did not. Unfortunately for Ripple, their decision to suspend operation on the Codius platform prevented them from being first-to-market with a smart contract solution. However, their products continue to do well, and no one can accuse Ripple of failure in any regard. The cryptocurrency market may seem massive now, but it was only a small fraction of its current size in 2015. Ripple, perhaps correctly, believed that the market at the time could not support the Codius platform.

The environment now is much different. Smart contracts are a regular feature of blockchain platforms, and the market’s size has grown exponentially. Further, smart contracts are one of the most attractive features of blockchain technology for traditional businesses. If Ripple can successfully develop an easy to use, seamless smart contract platform, they could expand their offerings even beyond the already impressive array. The CTO of Ripple, Stefan Thomas, floated the idea of reviving the platform as early as August of 2017. Obviously, the latter half of 2017 and the beginning of 2018 proved quite hectic. Now that the market stabilized, it makes sense for Ripple to begin looking to new product lines.

Decentralized Applications with Ripple

Ripple’s payment protocol already provides a centralized system through which financial institutions can upgrade their legacy networks. Decentralized applications appeal more to small businesses and start-ups, or even end users. This type of trust-less, automatic process extends the capabilities of a traditionally distributed ledger and provides the framework for development teams. Rather than just simple transaction system that we see in the ‘x’ series of Ripple products, there is the potential for fully featured, robust financial applications that would make Ripple more attractive to the average person.

Further, the ability to institute smart contracts can help with RippleNet’s bridge-currency procedure. A system that creates automatically executed contracts when fiat pairings are matched allows an increased liquidity level. Even beyond the impressive state of the current Ripple liquidity pool, smart contracts add one more level of contingency plan.

Recent Ripple Market Performance

Ripple’s value steadily increased throughout the beginning of Q2 2018, roughly in line with the rest of the market. Now emerging from the bear market that dominated the first quarter of the year, the market is poised for a bull run, with sideways movement from most major currencies. Given Ripple’s major advances during the market doldrums, there’s a high chance that it could see another spike in value as products begin coming to fruition.

The addition of a smart contract layer can only help this process. Expanding product potential and the opportunity to attract a greater amount of development teams helps to dispel some of the persistent skepticism from the cryptocurrency community. Ripple easily has the best public relations arm of any blockchain project, and there’s little doubt they’ll continue to use it to their advantage.

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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 Chris Lofqvist via Flickr

Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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