Evan Schwartz of Ripple praised Interledger and Codius technologies saying they are excellent platforms which can facilitate faster transactions. The Codius developer was speaking at the CSAIL initiative launch. He discussed Ripple’s progress and also delved into the functionalities of Interledger and Codius.
Interledger is internetworking for money. The project was started at Ripple and then became a separate open source project with many contributors. It is developed as a standalone open project for solving the problem disconnected payment network. Schwartz said that the main problem associated with payments was that the payment space all over the world is fragmented and payment methods vary with different countries. The solution to this hurdle is the internetworking of a payment network.
Interledger was created to successfully cross this hurdle. Interledger creates a global payment network that will transact payments at a much faster rate compared to a normal transaction. This also has the added bonus of ‘no medium of exchange worries’.
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Stephan Thomas and Evan Schwartz co-created Codius. In the words of Schwartz, “ Codius is a hosting protocol for distributed apps. The users will stream money to hosting providers and they pay for it using Interledger.” Codius has another special feature. It allows the users to select which hosts to upload, unlike blockchain. If any user feels insecure about a host she/he can choose another host.
Codius also facilitates open source services. It lets the user know which open source code is powering which service. Schwartz described three use cases of the program. One of them was the low latency regional blockchain. This empowers the user to create a new blockchain by just picking blockchain in the same region.
Schwartz also showcased some research questions. He agreed to one common accusation faced by blockchain and said: “……a lot of the blockchains under the hood are very centralized.” Schwartz mentioned decentralization, economics, game theory, market analysis, and networking in his sample list of research questions.
Evan Schwartz is a co-inventor of the Interledger Protocol (ILP) and the Managing Director of Ripple’s European Research and Development division based in Luxembourg. Ripple is cryptocurrency that has exhibited a sharp growth in the cryptoverse. It is ranked third by market capitalization and is currently trading at $ 0.45.
Source: Bitcoin Isle