Welcome to the Codius and Smart Contract Sub!

[Pablo 6,718]

I want to start by thanking @karlos and @Mercury for agreeing to open this new sub. It's something that I felt was long overdue and will become increasingly useful as Ripple develops the Codius platform.

The key reasons behind my request were a burning ambition to build up the necessary community required to support growth of the platform - this will need input from lawmakers, regulators, lawyers, coders, activists and futurists. XRPChat is welcoming large numbers of new members and lurkers so turning their minds to this will help us all.

Smart contracts are not simply about increasing efficiency in contract creation and enforcement, they will have significant social implications that perhaps haven't been appreciated as much as they should. There are many mistakes being made and matters are far from settled in this space. We have the opportunity to become thought leaders in an area that is rapidly developing and barely at crawling phase.

I have a few personal goals for this sub:

• Price speculation and meme resistant;
• Focused on a serious investigation of smart contract methodologies, theory and practice with a special emphasis on Codius
• While discussion of technical issues relating to Codius is welcome, I'd love to see more theoretical discussions to challenge prevailing orthodoxies of smart contracts. There is much work to do.
• The field of smart contracts is frequently lacking in legal knowledge and often exhibits basic misunderstandings of contract law and contract drafting (something I will try to address in the coming months).

As I mentioned above, I have already started preparations for quite a bit of content including a FAQ, contract law primer and links to important Codius and Smart Contract resources. There will also be quite a bit of content based on legal theory and philosophical/sociological implications of smart contracts. If you have something to contribute in the above areas, I'd love to hear about it.

 

Edited March 8, 2018 by Pablo

[RegalChicken 33,410]

Thank you for running with this @Pablo, Codius is under discussed and needs more light.  I'll be watching this sub. 

[Sancho 2,104]

48 minutes ago, RegalChicken said:

Thank you for running with this @Pablo, Codius is under discussed and needs more light.  I'll be watching this sub. 

I second that @RegalChicken, very interested in learning more about smart contracts and Codius.

[BLPinfinity 6,919]

I will watch with interest thanks@Pablo and@regalchicken for the referral.

[Marioka 22]

Did anyone see this already? I especially like his summary at the end: "So if Ethereum can go from less than $1 to $1400+ in just 3 years based on the value of its smart contract technology platform, the underlying value of the Codius platform itself (and anything directly associated with it) could do that and more. 

https://tcpmedia.org/wp-content/uploads/2018/07/The-Rumor_Codius.pdf

 

[Guest]

i think the IMPLICATION was that an equivalent amount may flow through XRP as the "default" choice of Codius+ILP, but i just doubt that very much at least in the short-mid

[Marioka 22]

Of course, it will take some time. But I am amazed how fast the word is spreading. We are counting already 193 active Codius hosts.  Just 3 weeks after the release of the source code (!)

Quote: "69 of those alone have been online for less than one week"!!

I think that is an amazing development to watch right in front of our eyes.

[Guest]

Where are you getting your counts from? That's a little low.. it's been above 500 for the past few days, just hit 600+ actually. Codiushosts.com

[PG1 1,429]

The growing number of hosts is great but I think the more important growth indicator will be the number of contracts.

In my mind the term 'smart contract' can itself cause ambiguity.  Smart contracts are great for automatic transaction execution based on conditions. But they don't solve for all the things that surround the actual transactions.  In particular, value transactions.  Such as the transaction agreement being made in good faith and legal to begin with.  Or what if the transaction used bad oracle data?  Without a counter-party what recourse would you have?

I have only looked at technical aspects without considering legal implications. Will be very curious to read more of your take on this @Pablo

[Marioka 22]

2 hours ago, Mr_McFearson said:

Where are you getting your counts from? That's a little low.. it's been above 500 for the past few days, just hit 600+ actually. Codiushosts.com

I was just referring to the quoted article. Also: the number of active hosts can fluctuate throughout the day.

But hey, the more the better :-)..

 

[Pablo 6,718]

On 7/26/2018 at 7:27 AM, PG1 said:

 

 

I have only looked at technical aspects without considering legal implications. Will be very curious to read more of your take on this @Pablo

This is a huge topic but luckily I found a basic primer on the legal implications of smart contracts that has been included in the Codius FAQ. It was written by Norton Rose and R3 (well, they owe us a few). The paper is well researched and also includes jurisidiction-specific material. You should definitely start there.

[Mykkal 0]

My question is a little off topic. Who owns Codius, is it Ripple Labs? When somebody is setting up a Codius host, there's is a charge. Who does that money go to?

[Guest]

On ‎7‎/‎26‎/‎2018 at 10:10 PM, Mykkal said:

My question is a little off topic. Who owns Codius, is it Ripple Labs? When somebody is setting up a Codius host, there's is a charge. Who does that money go to?

It is simply 10XRP deducted and held to keep a payment channel open. Once the channel is closed, you reclaim the 10 XRP. People decentralize it by being a host.

Edited July 29, 2018 by Guest

[Donkey 1,739]

On 7/27/2018 at 12:10 PM, Mykkal said:

My question is a little off topic. Who owns Codius, is it Ripple Labs? When somebody is setting up a Codius host, there's is a charge. Who does that money go to?

Codius is an open-source project. There is a team of developers working on it plus a community which is growing and contributing to the expansion of the network in various ways such as running hosts, interledger connectors, creating relevant apps and utilities.

In order for a Codius host to get paid, it needs to be connected to the Interledger via a moneyd service which is linked to an XRP ledger account. This connection between the linked XRP ledger account and an Interledger connector is persistent (until it is explicitly cleaned up and deleted) and is known as a payment channel. 

The 10 XRPs are marked as reserved in the XRP ledger account during the creation of the payment channel, and will be released (marked as available) once the channel is cleaned up. The reserve amount does not go anywhere, it remains in the account but is unusable until it is released.

[MsKat141 26]

7 hours ago, Cobalt said:

Codius is an open-source project. There is a team of developers working on it plus a community which is growing and contributing to the expansion of the network in various ways such as running hosts, interledger connectors, creating relevant apps and utilities.

In order for a Codius host to get paid, it needs to be connected to the Interledger via a moneyd service which is linked to an XRP ledger account. This connection between the linked XRP ledger account and an Interledger connector is persistent (until it is explicitly cleaned up and deleted) and is known as a payment channel. 

The 10 XRPs are marked as reserved in the XRP ledger account during the creation of the payment channel, and will be released (marked as available) once the channel is cleaned up. The reserve amount does not go anywhere, it remains in the account but is unusable until it is released.

How does one clean up the payment channel to get their 10 xrp back?