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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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Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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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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Altcoins

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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