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Ripple’s Previous CTO Introduces a New Way for Website Owners to Make a Profit

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Stefan Tomas, Ripple’s previous CTO, has just announced his intention to relaunch a smart contract platform called Codius. The goal of the relaunch is to change the method of content monetization on various websites.

Relaunch of the dormant project

Back in 2014, Ripple has attempted to launch a smart contract platform called Codius. The platform reached its beta version, but that is where the project got stuck – until now.

In May 2018, Ripple’s CTO Stefan Thomas decided to depart from the company and to start a new one called Coil. Coil’s goal is to try and change the way that various websites are using for making a profit off of their content. To do this, the company will be largely supported by a relaunched version of the Codius platform.

He announced the launch of this project on Medium, and at the same time, he introduced the service to its potential future users. The service is described as ‘frictionless’ micropayment service, and it works on the open-source distributed ledger tech provided by Ripple (XRP) itself. The technology is called Interledger and is one of the bigger products made by Ripple. It serves as a method of bypassing the existing profit-making methods like paywalls, ads, or the sale of users’ private data, and so far, it was used by the banks for sending their protocols to each other.

Achieving profits through micropayments

In truth, the use of micropayments is not at all a new concept. However, with proper modifications and good planning, it might be just the refreshment that the website owners needed.

According to Thomas, Codius will allow for easy creation of smart contracts, and in pretty much any programming language. Not only that, but it will also reduce the costs of orders, which will be several times cheaper than what Ethereum has to offer. Entry barriers will also be significantly reduced, which will allow the possibility of creating dApps.

Thomas claims that his greatest ambition is to find a way to allow cryptos to move ‘as frictionlessly as information’. This has been the case ever since he originally joined Ripple in 2012, and is something that he has now brought along to Coil. He claims that the technology created at Ripple, mainly Interledger and XRP itself, allow for trillions of transactions per every single second, while the whole process remains decentralized.

The possible applications can truly be endless, and some of them include the use of revenue disbursement contract. Basically, the websites would be capable of claiming revenue while their users are simply watching a movie. Little by little, the involved parties would be paid small amounts. This can also be applied to various news outlets, which can use the process for managing their readers’ preferences, subscriptions, and alike.

Coil has only been around for a short while, but it still managed to attract the attention of several high-profile developers who are interested in joining the project. Many have already stated that what Codius does might be the perfect solution to scalability and cost issues that Ethereum has been struggling with.

Another interesting thing is that this might even help boost the price of XRP since Interledger was developed on Ripple’s own platform. Still, Codius has a lot of strong competition, and only time can tell how well it is going to perform, and whether it will manage to find and keep its place in the world.

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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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Reasons Why You Are Much Safer When Crypto Trading on Dexes

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While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

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Crypto Billionaire Predicts Massive Price Growth by 2021

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Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

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Altcoins

TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

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