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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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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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crypto credit cards
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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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