Radium Update #20 — Radium SmartChain Progress Update and Beta Release DetailsAs you all know one of the most attractive features of Radium is without doubt the increased blockchain functionality provided by the Radium SmartChain. We are very happy to announce that after months of hard work we’re are almost ready to release the beta version of Radium SmartChain v3.0!
The beta release date for SmartChain v3.0 will be the
31st of January 2017.
The Radium SmartChain code has been fully refactored and the GUI has been completely redesigned, making it more user friendly and ready to be used by everyone! We believe in making the Radium SmartChain a tool for businesses to use in their day to day activities as well as for everyone that has an interest in blockchain identities and proof of existence.
Radium SmartChain v3.0 FeaturesBelow is a high level overview of the main features that will be included in the SmartChain v3.0 beta release:
- Integrated rapid setup: Integrated rapid setup allows users without a previous Radium Core or SmartChain installation to complete the wallet and SmartChain sync process in about 15 minutes. Making it much faster than our previous implementations. The SmartChain client ensures that Radium Core is present on the user’s computer and if necessary will automatically download missing components from Github. The client will also check for an existing Radium blockchain and SmartChain sync data. If either of these do not exist, they will be downloaded from Github as well. All downloads are checked against known hardcoded hashes before extraction to ensure file integrity.
- Identities: Users can create an identity that is secured in the Radium blockchain. A user can record multiple identities if they have a need to do so. An identity is then used to record notes and or file fingerprints, and other users can verify which identity a note or fingerprint originated from. A list of all known registered identities is available under the Users tab which includes the username, Radium address, and a description of the identity. Double clicking on an identity will show additional information related to that identity, including the notes and fingerprints it has recorded in the past. In future, SmartChain Software Solutions will be able to verify identities based on social media validation and Project Radium will be able to verify identities to a KYC compliant standard.
- Notes: Notes allows a user to store small text notes in the blockchain. Notes can be used to make predictions, endearments, or any other type of public statement that needs the security of a blockchain. A list of all known notes is also shown under the notes tab. Double clicking on a note in the list displays the full text and any available additional information.
- Fingerprints: Fingerprints allow a user to mark particular files as official or valid, or to prove they had ownership or access to a file at a particular time. File Fingerprints have a wide variety of uses; including signing official downloads, providing a timestamp for intellectual property and providing proof of file existence. Under the fingerprints tab one can record a new fingerprint into the blockchain or verify the validity of a file by checking it against fingerprints previously recorded.
- Proof-Of-Contribution and Spread Fees Protocol: The Radium Core network is the backbone of the Radium Smartchain. The network is maintained by many different individuals staking Radium coins using the Radium Core wallet and each of these people deserves a little extra reward whenever someone records new data into the SmartChain. SmartChain data transactions are more expensive than standard coin send transactions and the extra fees are then distributed evenly among the stakers supporting the network. Whenever new data is recorded, the fees are awarded back to the stakers slowly, over the following 1440 blocks, ensuring that no one powerful staker can capture all the rewards. The developers do not receive any part of the fee, as every last satoshi is sent back as a reward to those using their hardware and electricity to maintain the Radium Core network.
You can find some screenshots of the new GUI on the blog post linked below.
Possible Future Radium SmartChain v3.1 FeaturesFollowing successful testing and release of the 3.0 platform, development will shift directly to implementing new features and enhancements. Below is a list of currently planned new features, however keep in mind that there is no specific order or release date in mind.
- Editable Identities: Every now and then, the information in an identity may need to be updated, be it an email, a website or perhaps an address. The option to edit some parts of an established identity and the corresponding GUI is mostly complete, but still needs testing..
- Contracts: Multi-Party signable contracts will allow two or more individuals to sign contracts or agreements and have the evidence of such placed in the blockchain. The GUI and code for this is nearly complete, however some additional testing is required.
- Voting: Voting will allow any user to create a poll regarding any issue of their choosing, and specify a range of responses. A poll can remain open for varying lengths of time, depending on the user’s preference. Users with a registered SmartChain identity can cast votes on any open polls with the assurance that the results are fully verifiable in the blockchain.
We have some more tentative features we’re considering for future version of the SmartChain which we are not including in this current blog post. We will inform the community of any new feature additions as our ideas solidify.
We would also like to remind everybody that the new Radium Core website will be released next weekend.
— The Radium Team
https://blog.radiumcore.org/radium-update-20-radium-smartchain-progress-update-and-beta-release-details-9f4921d8bfa1