Stefan Thomas, former Ripple CTO plans to re-launch Codius. Codius was an open source undertaking launched by Ripple in 2014 only to be shelved a year later. Thomas is now relaunching this smart contracts platform, which will go head to head with ethereum while also being the backbone of Coil, his new company. Thomas created Coil in order to change how websites monetize content. With this new release, browsers will now be able to make micropayments to the different websites they visit. This is a far cry from the makeshift monetization methods that have been relied on so far. The use of data harvesting from users, paywalls and Ads will no longer be necessary.
Codius ability to enable micropayments will see the platform come in handy by enabling, “revenue disbursement contract” which will see viewers pay money after watching a movie to all the people that participated in making it. Tutorials have been made available on how to upload and host Smart contracts with Codius in order to push for quick adoption. Early signs are promising with several developers showing an interest in the platform. Such developers include;
- Josh Williams
A well-known gaming investor, previously known for his investments in Zynga, Kabam, and Unity; has stated that he would gladly use Codius for his new ventures which includes a new gaming company.
This is an IT solutions provider based in Luxemburg, and have shown an intention to use Codius to push forward novel direct E-commerce methods. Chief architect at Telindus, Thomas Scherer, further explained that Codius could very well replace Ethereum in operating smart contracts, due to the vulnerabilities displayed by Ethereum. Ethereum has serious flexibility, speed and scalability issues making it less popular.
The lingering question, however, is why did Ripple drop Codius in the first place? Thomas explained that at the time of the launch Codius seemed premature and that the technical architecture involved was too cumbersome. After 3 years, doubts about the premature nature of such contracts have waned and Codius has been retrieved and dusted ready for adoption. Codius however, is not the only substitute to ethereum in the market. Other platforms such as EOS promise faster, cheaper transactions since the block-chain only needs 21 validator nodes.
Thomas states the following as the advantages of Codius over ethereum;
- Codius uses Hyper-container which an open source program that uses Docker containers to protect contracts from vulnerabilities
- Codius do not use programming languages like Solidity whose security is barely understood
- Codius will probably be priced between Ethereum’s 60 cents and Lambda platform’s 20 cents
The re-launch of Codius could see firms choose it over other platforms such as Ethereum and AWS. Codius is expected to facilitate smart contracts better than other platforms did.