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ahmadderar

Ripple to Outperform Ethereum? Time for New Investments?

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Nice phrasing @ahmadderar :D thanks!

"Coming out of 2017 with a good XRP price and having stayed relatively clean of the investor turmoil that surrounded other currencies (Bitcoin, Litecoin) toward the end of the year, Ripple has done a lot in the early months to garner much attention. Attention then has done a lot to promote the coins status and increase the amount of hype it has currently. With staggering investments in blockchain tech, Ripple has started to really jostle into the fray and has started turning a lot of heads."

"It is going into the next few months on a wave of solid investor confidence and looks set to rise sharply."

(emphasis is mine)

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On 4/16/2018 at 4:55 PM, JA8 said:

Slightly nonsensical article as XRP and ETH aren't competitors.

I wouldn't say that just yet my friend. Stefan Thomas stated in a Quora Q&A response that " I worked on Ripple’s smart contract system Codius back in 2013–2015. Back then, our conclusion was that a viable smart contracts ecosystem requires a standard for payments first. Contracts need to be reviewed to be trusted and that’s expensive if you need a new contract for each type of asset, because every ledger has a different protocol/API. Thus, Interledger was born. Now that Interledger exists, we are revisiting the idea of building smart contracts. We just released a proof-of-concept for a new version of Codius that is built on Interledger. You can expect to see more on this in 2018." 

Smart contracts have been the backbone and life-blood of Ethereum’s existence for the better part of the past +3 years. The fact that Ethereum has yet to find a viable solution to the network’s scaling and technical issues is still the ELEPHANT in the room an provides Ripple the perfect opportunity to leapfrog them on their own turf. Ethereum's inefficiencies and scaling issues allow Ripple's entry into the smart contract space that more effortless. Even Vitalik realizes that a Proof-of-Work (PoW) consensus model is not robust or dynamic enough to scale appropriately to adequately manage all of the ICOs and other applications being built on Ethereum's blockchain network. In Jan of 2018 he initiated a ‘scalability initiative’ in attempts to solicit help from the broader developer community to assist with Ethereum’s scalability issues caused by the ever backlog of Cryptokitties, Etherbots, and ICOs. According to Vitalik, scaling Ethereum’s network “is the single most important key technical challenge that developers need to work on before blockchain applications can be widely used.” The folks at Ethereum have even gone as far as changing the consensus model from a PoW to a Proof-of-Stake (PoS) strategy called Casper. However, as has been pointed out in Ripple’s new whitepaper regarding the newly proposed XRP-Ledger consensus protocol replacement: 'Cobalt: BFT Governance in Open Networks,' there are inherent flaws with a proof-of-stake (PoS) consensus model (Pgs: 10-11). At-any-rate, I think we can expect great things for Codius at some point this year, especially since it will be built on Ripple’s Interledger Protocol. While Ripple might not have had sufficient “bandwidth” to fully commit to Codius development early on, due to the focus on the development of its blockchain solutions (xCurrent/xRapid/xVia/ILP), it is my belief that they have been quietly working on it behind the scenes for a while now.  Also, the most telling clue is the "TBD" amendment pdf called the "Crypto Conditions Suite" found on Ripple's 'Known Amendments' webpage.  Having read it about a month ago, to me,  it sounds an awful lot like Codius "in disguise." 

Edited by King34Maine

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15 hours ago, King34Maine said:

At-any-rate, I think we can expect great things for Codius at some point this year, especially since it will be built on Ripple’s Interledger Protocol.

@King34Maine I think this is a great assessment of the Ripple Codius strategy... I sure hope you're right about the behind-the-scenes work. Thanks!

15 hours ago, King34Maine said:

We just released a proof-of-concept for a new version of Codius that is built on Interledger. You can expect to see more on this in 2018.

 

 

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