The former CTO at Ripple, Stefan Thomas is set to launch a new smart contract protocol that will give Ethereum a run for its money. However, the platform, Codius is not entirely new because Ripple issued a beta version a few years back in 2014. Codius did not see maturity and it died in 2015. Thomas will release his platform backed by his company referred to as Coil.
Codius is intended to improve how websites do content monetization. Thomas believes that websites have not found a proper and profitable way to monetize the content. They have from time to time been confined to using “workarounds”, for example, running ads, introducing paywalls as well as the harvesting of user-related information and data. Codius will, however, allow websites to make money from browsers used by visitors on the websites.
Codius is a decentralized platform that could be customized to make money in very simple ways as a “revenue disbursement contract.” The system collects revenue while a movie is being watched, thereafter, the money is sent to the creators of that movie. On the contrary, the payment will not be in batches, it will be relayed in bits. The smart contracts of Thomas’s platform can also give news websites a better way to manage content and interact with their readers along with controlling subscriptions and authorization. The platform will actually “act as a sort of switching board for your money.”
Codius implementation is already out coupled with the tutorials that guide how uploads are done. In addition to that, Thomas has provided instructions for hosting the smart contracts on the computers. His intention is to encourage developers to begin using the protocol right away. Coindesk reports that various developers will be building on Codius, a games developer, Josh Williams, who is currently working in stealth has confirmed he will use the platform in his future developments. While speaking to Coindesk, Williams said:
“Teams in games and elsewhere are building on Ethereum and running into the cost and scalability issues we’re all familiar with. Codius has great potential in addressing these concerns, and we are eager to work with it.”
Thomas appreciates what Ethereum smart contracts have achieved so far. He, however, notes that the same smart contracts have revealed the shortcomings of Ethereum-based dApps, including different types of vulnerabilities as well as scalability issues. He echoed that Codius supports all programming languages and does not limit the programmers. Moreover, its smart contracts operate more like “smart oracles” to allow communication with data from outside. Thomas said with regard to Ethereum smart contracts:
“The people that are reaching out to us are saying, ‘Hey, we’re experimenting on Ethereum. We’re running into scalability issues. It’s too expensive, too slow. It’s not flexible enough. We don’t like writing in this awkward language,'”
The general trend in the market on Thursday 7 is a little bullish. Bitcoin price has broken above the key resistance at $7,700, while it is up 0.63% on the day. Ethereum price, on the other hand, has maintained above the short-term support at $600, but it is trading at $611. Ripple price has not broken above the key resistance zone at $0.70, however, it is exchanging hands at $0.67 while the charts indicate a slight rise of 0.61% on the day. Bitcoin Cash is the biggest gainer among the top five coins, rising by over 2% to trade at $1,153. EOS closes the top five cryptocurrencies trading at $13.94 while battling to break above $14.00.