Former Ripple CTO Stefan Thomas said he is working on a new version of Codius, a smart contract hosting protocol that allows for more versatility and flexibility. One expert says this is a big problem for the XRP Ledger, as it enables off-chain smart contract execution and compatibility between ledgers.
Stephen Thomas, Ripple’s first chief technology officer, is developing a new version of Codius, the smart contract protocol he developed a decade ago. This could open up new opportunities for the XRP Ledger.
Smart contracts are now ubiquitous and easier than ever to create and deploy. However, this was not always the case. In the early 2010s, these contracts were still in their infancy and very strict. Thomas, Ripple’s CTO at the time, set out to change this, and Codius was born.
Codius was initially launched as a Ripple project, but quickly took on a life of its own. Essentially, it provides a more versatile and flexible approach to deploying smart contracts, allowing you to run them on any blockchain, dApp, or server. These contracts can also interact with multiple other ledgers and blockchains in addition to the ledger or blockchain in which they are deployed.
Codius passed away a few years ago, but Thomas, now CEO of Coil, recently revealed that he is working on reviving Codius.
@coil creating a new version of @codiusproject. https://t.co/GtHSoBh3jR pic.twitter.com/8vdoyERC97
— Ian 🏴☠️ (@xrplov3) October 24, 2024
Smart contracts have evolved since the days of Codius, and many of the features the team was working on in 2014 can now be found in existing blockchain networks. However, Codius retains some key technologies that one expert believes could be essential to today’s XRP Ledger.
Stephen Thomas, former @ripple CTO announces work on new version #codius – this is, #XRP Ledger ecosystem. Why it matters: 1/12 🧵
— Max Avery (@realMaxAvery) October 27, 2024
Can Codius accelerate the adoption of the XRP Ledger?
In the X thread, renowned author and entrepreneur Max Avery points out Codius’ unique features include decentralized hosting that creates a peer-to-peer network for services, and built-in billing that allows programs to pay for their operations. , and language flexibility. This allows developers to use the language with which they are most proficient.
But why is this important for the XRP Ledger? According to Avery, integrating Codius’ technology introduces off-chain smart contract execution, reducing the load on the XRP Ledger and allowing it to continue processing transactions at high speeds. It is said that it will be possible.
Codius also features cross-ledger compatibility, allowing dApps on the XRP Ledger to interact with dApps on multiple other blockchains.
“Codius’ blockchain-agnostic approach increases versatility and enables complex decentralized applications and cross-chain operations,” he said.
Other benefits include flexible smart contracts and a scalable application layer that distributes the computational load.
He added:
“Codius strengthens the XRP Ledger ecosystem by providing off-chain smart contract execution, maintaining and potentially increasing XRP’s TPS, and opening up new use cases through interoperability. This is an important step forward for the XRP Ledger.”
XRP is trading at $0.524, up 2% over the past day.
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