- Stefan Thomas, former Ripple CTO, says that he is working on an updated version of Codius. This protocol hosts smart contracts and allows for greater flexibility.
- According to one expert, this will be a huge deal for XRP Ledger because it allows smart contract execution off-chain and inter-ledger compatibility.
Stefan Thomas, Ripple’s first Chief Technologist (CTO), has been working on a version of Codius – the protocol for smart contracts he created a decade earlier. It could create new opportunities for XRP Ledger.
Smart contracts have become more widespread today and are easier to create and implement than ever before. This wasn’t the case in the past. These contracts, which were quite rigid in early 2010, were very new and in their initial stages. Thomas, the then CTO at Ripple, decided to do something about it. Codius, was born.
It was initially released as an a Ripple Codius, a Codius project soon took on a life all its own. It offers an approach that is more flexible and versatile to the deployment of smart contracts. This allows them to be run on any server, blockchain or dApp. They can interact with other blockchains or ledgers besides that on which they were deployed.
Codius died years ago, but Thomas—now the CEO of Coil—recently revealed that he is working on reviving it.
@Coil It is possible to create a newer version of @codiusproject. https://t.co/GtHSoBh3jR pic.twitter.com/8vdoyERC97
— Ian🏴☠️ (@xrplov3) October 24, 2024
Since the creation of Codius in 2014, smart contracts have become more sophisticated. Many of the features that the Codius team worked on are now found in current blockchain networks. Codius still retains key technology that an expert thinks could be crucial to the XRP Ledger of today.
Stefan Thomas is a former @Ripple CTO has announced that new versions of #Codius – This is huge for the #XRP Ledger ecosystem. Why it is a huge deal: 12/12🧵
— Max Avery (@realMaxAvery) October 27, 2024
Codius Could Accelerate XRP Ledger Adoption
Max Avery is a renowned entrepreneur and writer. In a discussion on X he revealed Codius’s unique features. These include its decentralised host, which creates a peer-to-peer service network, billing built in, which allows applications to pay for operations, and the flexibility of language.
Why is this important for the XRP Ledger, you ask? According to Avery’s statement, integrating Codius technology will allow for off-chain smart contracts execution. This would enable the XRP Ledger to process transactions at high speeds.
Codius comes with cross-ledger functionality, allowing dApps running on the XRP Ledger blockchain to communicate with those of multiple other blockchains.
“Codius’s blockchain-agnostic approach enhances versatility, enabling complex decentralized applications and cross-chain operations,” He noted.
Some of the other benefits include the flexibility and scaleability of smart contracts, as well as a distributed application layer.
“He added”
“Codius enhances the XRP Ledger ecosystem by providing off-chain smart contract execution, preserving and potentially increasing XRP’s TPS, and opening up new use cases through interoperability. It’s a significant step forward for the XRP Ledger.”
XRP The price of the coin is $0.524, up 2% from yesterday.
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Source: www.crypto-news-flash.com
