Jump to content

Welcome to the Codius and Smart Contract Sub!


Recommended Posts

  • karlos pinned this topic
  • 4 months later...

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

 

Link to post
Share on other sites

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

Link to post
Share on other sites

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.

Link to post
Share on other sites

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

Link to post
Share on other sites

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

Link to post
Share on other sites
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 :-)..

 

Link to post
Share on other sites
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.

Link to post
Share on other sites
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 by Guest
Link to post
Share on other sites
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.

Link to post
Share on other sites
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?

Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.