Ripple’s development team is preparing to introduce a smart contract system called Codius. That system will give Ripple (XRP) Ethereum-like functionality, allowing users to lock into smart contracts secured by the Ripple blockchain
This is a re-emergence of a program established by Ripple which in turn phased out in 2015 due to the presence of a small market back then and the lack of a standard for payments on the smart contract eco-system. Each blockchain had its own standards and communication between two different ones was unheard of until the introduction of Interledger not too long ago.
Ripple’s tagline for the project says “Where smart programs live”. It is supposed to be an open hosting protocol, and its design will allow the creation of a system that will support smart contract and add them to Ripple’s ecosystem.
Although the platform is in the Beta phase, a lot can be anticipated as the code is being checked for so called dragons and as illustrated on the project’s website. Dragons in this situation refers to the common bugs found in software during the testing phase.
- Codius is expected to be as fast as native Ripple, according to the known information.
- It is also expected to have extreme security, with its sandboxing being called the state of the art. Rogue smart contracts won’t be able to target any of the network’s critical components thanks to the fact that applications will be completely isolated from each other, as well as from the host.
- In that white paper, the pair described Codius as “just a way to make decentralization easier.” The goal was to enhance the capabilities of the Ripple network to make it the ultimate decentralized solution for the financial ecosystem – including the banks and large-scale enterprises targeted by Ripple.
This program has very powerful implications that could prove to be a really essential part of Ripple’s future.
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