Is Codius, the smart contract system behind (XRP) Ripple's current surge?
While most crypto investors are attributing (XRP) Ripple's recent success to deals with a consortium of Japanese banks, Bank of America, and others, along with rumors of impending Ripple listing on the Coinbase, there could be a more technological, sound reason.
Codius
Codius was originally proposed in 2014 in this white paper by Ripple Labs CTO Stefan Thomas and Evan Schwartz. It is an open hosting protocol designed to implement a smart contract system. The project was shelved by Ripple in 2015 due to lack of demand and reallocation of resources. In the hyperlinked article Thomas states,
“Codius is just a way to make decentralization easier...it's an optimization,
you don't need it,” but “If there is demand and corresponding supply there is
an obvious incentive for somebody to capitalize on this opportunity."
Codius also boasts a p2p hosting and decentralized apps in addition to the features listed above. Word of the revival of Codius first appeared on chat forums XRP Chat & Reddit on Nov. 10, 2017. In the 20+ minute video below, Ripple Labs CTO Stefan Thomas goes in depth about Codius.
Ripple Labs CTO Stefan Thomas talking about Codius
Insight/Thoughts
This bodes well for Ripple, smart contracts lend the coin an air of legitimacy afforded my the likes of (ETH) Ethereum. This banker coin could really take off provided the banker's choose the coin to pay to toll the Ripple/Codius bridge provides.
ALL INSIGHTS/THOUGHTS ARE NOT FINANCIAL ADVICE. CRPTOCURRENCY MARKETS ARE EXTREMELY VOLATILE. DO NOT INVEST MORE THAN YOU CAN COMFORTABLY AFFORD TO LOSE
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