The US SEC halted the encrypted messaging service Telegram’s new project TON (Telegram Open Network). This emergency action would temporarily prevent it from selling or otherwise distributing its gram tokens within the U.S. At the same time, Libra, the digital currency that was highly anticipated by Facebook, has also suffered a setback. Seven of the founding members of the Libra Association including PayPal, Visa, Mastercard, eBay, Stripe, Mercado Pago and Brooking Holdings exited and G7 questioned its security.
Recently the regulation of the cryptocurrency around the world has become more widespread and more formal, accompanied by a general decline in the digital currency market. In fact, regulation and development are not contradictory. Supervision is indispensable for the healthy development of the blockchain industry. Without supervision, bad money would drive out good. In comparison to a team of only some marketers and outsourced development, a project team that’s dedicated to development and deployment certainly incurs greater cost. Therefore, regulation will allow speculative funds to be transferred to real projects with faith in blockchain, and to drive out bad money. For the project teams that are working hard, regulation is like “seeing” the sun rising when the dawn is still dark.
Perhaps some community members did not know why SmartMesh’s recent focus had shifted from the Philippines to Singapore. Now everyone should understand the perspicacity of the Foundation Advisory Group. The Singapore Blockchain Landscape 2019 was displayed on the official website of IMDA of Singapore, among which SmartMesh is listed.
Singapore is one of the commanding heights of world financial technology. SmartMesh has been invited to the Singapore and the US SEC closed-door meeting to be held next month. Compliance is the only way for inclusive connection and inclusive finance.
Here are the specifics of this week:
The specific work is as follows:
1. Spectrum public chain:
1.1 Code implementation of the link layer part of the second version of the public chain.
1.2 Detailed design of the message layer delivery mechanism based on link layer characteristics.
2. Perception network:
2.1 Study the python twisted framework to debug Matrix.
2.2 Distributed communication research.
1. Photon and Matrix optimization.
1.1 Updated Photon of MeshBox version. Adjusted the Spectrum mainnet parameter configuration and opened the routing fee and other functions by default. Improved the applicability of Photon in MeshBox.
1.2 Performed PMS extended function optimization analysis. Classified and discussed the PMS registration Secret scene entrusted by the transaction receiver, and further expanded the scope of the PMS function.
1.3 Performed the Photon intermediate node transaction process and then reconciled the security analysis of the sender and receiver collusion through the pre-registration Secret to build transaction fraud intermediate node scenario. Evaluated the probability of occurrence and initially designed the solution.
1.4 Optimized the performance of Matrix server, solved the problem of data synchronization and multiple types of events generated by multiple devices using the same account, and improved the overall running performance of Matrix.
1. Customized design of the atmosphere cross-chain.
1.1 Continued to logically interface with the APP front-end, communicated cross-chain signature generation mode and interface parameter call form, and provided application support for Singapore Living Lab cross-chain concept verification.
1.2 Redundant backup scheme design, new standby node data synchronization related processing to provide cross-chain support when the primary node fails. Improved the stability of cross-chain applications.
1.3 Continued to update the cross-chain technical documents, and expanded the details of the message interaction mechanism related to the Lock-Out process to improve the accuracy of the document.
1.4 Continued to describe the function interface of Ethereum and Spectrum cross-chain contract specification. Described the process and scene description of Lockin related interfaces (PrepareLockin, Lockin, CancelLockin) in the main chain contract, and provided reference for Living Lab and cross-chain ecosystem application support.
- The development of the first version of the cross-chain APP came to an end, and some interaction problems were being coordinated with the cross-chain team. It is expected to enter the testing phase next week.
1. The Singapore Infocomm Media Development Authority (IMDA) released the Singapore Blockchain Landscape 2019 on the official website, where SmartMesh is among them. SmartMesh’s cooperation, presentations, demonstrations and recent test deployments in Singapore this year have made the government, industry experts and investors represented by IMDA and Tribe Accelerator more aware of the value and significance of SmartMesh. The picture shows the Linkedin posts by the Chairman of the Singapore Fintech Association.
2. This week, the Spectrum public chain trademark application succeeded and received the certificate. It is very difficult to apply for the trademark of the word Spectrum. We’re gratified that we made it!