Ripple and Ethereum aren’t generally seen as rivals, of course they are competing for rankings and market capitalisation but generally, each team and each currency compete in slightly differing landscapes. This at least was the case, until Ripple decided to re-launch an aged project, named ‘Codius’.
We covered the breaking news that followed the re-launch of Codius, you can see our story for yourself, here- https://cryptodaily.co.uk/2018/04/ripple-xrps-codius-re-born-next-big-thing/
Moreover, you can see Codius for yourself, here- https://codius.org/
What is Codius?
Codius is essentially a hosting system with smart contracting facilities, according to Codius:
“Codius is an open hosting protocol. It makes it very easy to upload a program, whether you want it to run on one host or thousands. It also has built-in billing. That means once a program is uploaded, anyone can pay to keep it running — the author, the users and even the program itself.”
Within this exists P2p hosting, decentralised apps and smart contract, all features that at the moment, are dominated by the presence of Ethereum. As Codius grows though, with the brutal backing of Ripple, we should consider how Codius may become a direct rival for Ethereum, especially given the proximity of Ether and XRP on the markets.
So, how could Codius crush Ethereum?
First of all, Codius uses interledger protocols to allow blockchain platforms to work together, something that no other project has yet been able to establish, Ethereum included.
Next up, Codius is automatically backed by a strong and ever-growing Ripple community. Because of this Codius is starting up with a huge fan base and a huge investor base, something that Ethereum has taken years producing.
Furthermore, the other company behind Codius, Coil, will use the Codius platform to incentivise content creators and thus, their websites will not rely on advertising revenue. Within this, Coil and Codius aim to foster a new environment for sharing online, something that the Codius smart contract system will in turn benefit from.
So, to summarise, it is pretty difficult to challenge Ethereum. The Ethereum blockchain is huge and as a project, Ethereum ticks all of the boxes. However, Codius is the first example of a project that has equal prowess to Ethereum, yet also has further extensions into other industries (with the help of Ripple). Codius might not kick Ethereum off the top spot just yet, but, it does have the power to do so. The implications of this are of course vast.
Whilst we can’t expect to see any changes in Ethereum’s dominance just yet, over time, Codius could become a super-prolific figure. Perhaps this is Ripple’s best chance of achieving market domination.