The revived Codius smart contract platform promises not only to supplant Ethereum, but also to bring blockchain technology to a new level of development, solving the complex problem of interaction between different blockchains.
Former Ripple CTO Stefan Thomas has launched a new company called Coil, which will bring back the Codius operating system for “refinement.” Since Coil will be based on some of the architecture of the Ripple platform, it is technically considered a fork of it.
Stefan Thomas believes that smart contracts remain little used to this day, due to the inconvenience for users. The Codius platform, which allows the creation of smart contracts that can use third-party information sources, was released by Ripple in beta back in 2014 and was discontinued due to lack of demand for the product. Interoperability between different blockchains was not possible three years ago until the advent of Interledger (“inter-registry”). A set of open protocols that ensure the sending of payments across various registries, Interledger, works as a router, while the protocol itself remains independent of any company, blockchain or coin.
The rapid development of blockchain technology in recent years has made the launch and further improvement of Codius relevant. Stefan Thomas, who previously developed the platform at Ripple, is confident that Codius will allow for simple integration of smart contracts and make it more understandable for users. Connecting sites and content creators, consumers and Internet service providers, this protocol can provide the interoperability they need and the rapid transfer of value between them. It makes it possible to change the way sites monetize content, make micropayments, manage channel subscriptions, or use “profit sharing contracts.”
In addition, Codius allows the use of familiar programming languages for code, C++, Java, JavaScript, C# and others, in contrast to standard platforms. The updated platform seeks to solve the main problems faced by all blockchain networks, including the main issue of scalability.
The release of the updated version of the Codius smart contract platform is posted on GitHub.
Representatives of a telecommunications corporation and a gaming industry team have already become interested in the prospects for its use. They are primarily attracted by the Codius architecture, which gives developers the freedom to choose priorities.. The announced updated capabilities of Codius can compete not only with Ethereum, but also with other market heavyweights: Stellar (XLM), Tron (TRX), EOS (EOS), Zilliqa (ZIL).
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