After being shelved three years ago, Ripple is set to reintroduce Codius, an open hosting protocol that will be based on Ripple’s blockchain. Codius was introduced in 2014 and after close to a year of development, the Ripple team decided to put it on hold as they felt the decentralized market was still too young and would not provide an ideal market for the protocol. Reports have however emerged that Codius is about to make a re-entrance into the market.
Codius will in effect make Ripple a competitor in the smart contracts market with established titans such as Ethereum and EOS. While we have seen Ripple take some small steps in competing with Ethereum, such as being used to launch a new project known as Allvor, Codius would give it the ability to now compete fully in the lucrative and ever-growing smart contracts market.
Codius offers many benefits to its users, one of them being peer-to-peer hosting in which any program uploaded doesn’t require maintenance as long as at least one person is using it. It also gives users the platform to develop decentralized applications while implementing smart contracts as well.
The protocol is currently in beta and is still being developed to become even better. In its whitepaper, Codius is described as a bridge between value networks such as Ripple and Bitcoin. The whitepaper which was published by Ripple’s CTO Stefan Thomas and Interledger co-founder Evan Schwartz further describes the applications as including cryptocurrency wallet controls, escrow monitoring in any trade between two parties as well as in voting and auctions for digital assets. Ripple is yet to make an announcement on when the official launch of Codius is and all that the Ripple community can do is wait with baited breath for the announcement.