Connect with us

Blogs

Ripple (XRP) Resurrects Smart Contract Platform Codius

Published

on

Ripple
READ LATER - DOWNLOAD THIS POST AS PDF

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.

loading...

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.

For the latest cryptocurrency news, join our Telegram!

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

Ripple XRP Mega Breakout: What’s Next?

Published

on

Ripple XRP mega breakout
READ LATER - DOWNLOAD THIS POST AS PDF

The Ripple XRP mega breakout that we were calling for happened and happened much quicker than anyone expected. As we said yesterday:

Nonetheless, IF, Ripple is capable of going ‘topside’ of the .38 figure at any point in the days/weeks ahead, such development, should it occur, would likely trigger its next advance into the .42 – .47 zone, representing a 30-40% move from present levels. On the flip-side, the .25 – .26 area should offer short-term potential support.

XRP is now sitting at .51704  as we write this article this morning, representing gains of 61% since we alerted our readers and our Global Elite email newsletter members.

Ripple XRP Mega Breakout

The Ripple XRP mega breakout is significant because it’s the first time XRP has been above its 50-day moving average since May. Right now, the RSI is approaching 80, so we are in overbought territory and we expect the price to consolidate around the .42 to .47 level before resuming its uptrend.

While some are looking at this as an opportunity to short XRP, we are not of that camp. While some can book some profits and use a trailing stop, any integration of XRP with xRapid has the ability to create a tremendous move in XRP. As Travis Kling said this week on the Off the Chain podcast with Anthony Pompliano, XRP could be the quickest five-bagger investors…

Continue Reading

Altcoins

Litecoin Cash (LCC): The potential mover?

Published

on

Litecoin Cash
READ LATER - DOWNLOAD THIS POST AS PDF

Litecoin underwent a hard fork in the past, and that is what led to the creation of Litecoin Cash. Bitcoin has also experienced a hard fork, which has led to the creation of Bitcoin Cash, so this trend is not necessarily brand new.

Forks have occurred pretty often now in the cryptocurrency community, and the perception is that it probably will continue to, as long as the need (forks are often created to overcome issues faced by the originals) remains there.

While the market has been bearish for most of the year, it has been showing some definite signs of life, especially when we look at the kind of price action that has been happening with Ripple recently. Litecoin is also rising in anticipating of its hard fork, which is to be expected.

For those who are unaware, Litecoin Cash was created earlier this year. 10 Litecoin Cash was given to every investor who had 1 Litecoin – and that one move, it’s easy to see, was very massive concerning value.

Charlie Lee, the founder of Litecoin, has come out against LiteCoin Cash, calling it a scam. Many cryptocurrency influencers have come out against Litecoin cash, although there are still others that believe that this is only because the project threatens them.

Continue Reading

Altcoins

The Stage is Set for Stellar XLM vs XRP

Published

on

XLM vs XRP
READ LATER - DOWNLOAD THIS POST AS PDF

The digital asset of XRP, did something spectacular on the 18th of September when it shocked the crypto-markets by rising in value by 21%. In a time period that was less than 5 hours, XRP spiked from levels of $0.273 to those of $0.332 and has continued rising. The digital asset is currently valued at $0.36.

xRapid Factor

The reason for the sharp increment in value of XRP was news that the Ripple company was going to launch xRapid in the next month or so. This was after the firm’s head of Regulatory relations for Asia-Pacific and the Middle East, Sagar Sarabhai, made the following comments during a CNBC interview on the 17th of September:

“I am very confident that in the next one month or so you will see some good news coming in where we launch the product live in production.”

Stellar’s Cross-Border Payments

The news of Ripple launching xRapid has come 2 weeks after the Stellar project and IBM, announced that they were entering the industry of cross-border payments through their new service known as IBM Blockchain World-Wire. The new payment settlement service has been quoted as being ‘near instant’ meaning that it will probably rival the transactions time seen in the xRapid pilot tests of 2 – 3 minutes earlier on in the year.

Stellar Acquiring Chain

Continue Reading

Trending