A representative of a four-country collective in the ASEAN region sent good news to the SmartMesh Foundation on New Year’s Day 2021. The inclusive communication and inclusive financial solutions provided by SmartMesh and MeshBox was approved by the collective to provide socio-economic and digital transformation for the growth area.
The last day of this report’s coverage coincides with New Year’s Day 2021. Although 2020 has been a difficult year the SmartMesh project team are all healthy and safe, and wish for same for everyone. We wish everyone a happy New Year, health and prosperity in 2021. Thank you all for your participation and support in the past year! In the new year, let us start a new journey together!
The following is the specific work in the past two weeks:
SmartMesh Foundation has been in operation for three years now. In the past three years, the project team has persisted in executing their original intention. We have developed and launched the Spectrum public chain suitable for building a distributed Internet of Value. Currently, the number of nodes that have staked 880,000 SMT mining has reached 746, with a staking rate of 20.8964 %. The number of tokens staked has reached 65.648 million. When the Spectrum public chain was initially designed, the second-layer network Photon Network, offline payment and Atmosphere cross-chain architectures were considered. Such careful planning allows the Spectrum public blockchain to have great potential for expansion in the construction of inclusive communication and inclusive finance for the ground-space integration network.
The new year has arrived. In 2021, we will focus on the following developments:
- Upgrade the Spectrum main network to be compatible with new EIP features, optimize the transaction confirmation speed, and transition the beacon node selection mechanism to that of a community member voting model.
- Publish the MakerDAO organization on the Spectrum to provide a stable coin system for the SmartMesh ecosystem. By staking SMT, users can obtain stable coins of equal amount for them to use.
- Release DEX on Spectrum, adopt zkrollup layer two network technology solution, and provide a decentralized trading platform for markets such as Singapore, Philippines and South America, and those of SmartMesh’s partners.
- Complete the deployment of the Atmosphere cross-chain project on the mainnet, allowing more Ethereum ecosystem projects to enter the SmartMesh ecosystem through Atmosphere cross-chain technology.
The specific work is as follows:
1. Photon optimization related work.
1.1 Continue to analyze the liquidity design of the Photon channel through the DeFi platform, discuss the third-party service mechanism of DeFi liquidity staking and channel income, and provide technical support for the subsequent expansion of Layer 2 DeFi.
1.2 Pay attention to the relevant Layer 2 technologies supporting online paid subscription scenarios, analyze and evaluate the Web-API framework design, paid content platform construction, payment process, and presentation effects, and prepare for the subsequent expansion of Photon application scenarios.
The specific work is as follows:
- Atmosphere interoperability and preparations for JED Trade cooperation projects.
1.1 Continued work on the standard design framework between NFT chains. Analyze the technical specifications and module implementations in the design. Prepared for the subsequent design of NFT application scenarios and the construction of ecosystem interoperability.
1.2 Continued to dock with the JED Trade cooperation project. Communicated and confirmed the encryption method, unlocking parameters, cross-chain difference and expiration processing mechanism; provided support for subsequent project interoperability cooperation.
1.3 Analyze the feasibility of cross-chain cooperation in a potential IoT application project. Initially researched and compared the consensus mechanism and the layer two edge and global network architecture, and prepared for the subsequent IoT data cross-chain.
1.4 Conducted a preliminary analysis of the security requirements of TEE in IoT applications, analyzed re-encryption authentication and data sharing applications, provided reference hardware support for cross-chain applications considering IoT data.
The specific work is as follows:
Tango APP new version planning, ecosystem project prioritization and function optimization are in progress.
The market and business activities of the SmartMesh project were as follows:
- After several months of planning and preparation, SmartMesh and MeshBox teams cooperated with Blockchain Association Singapore and Singapore Polytechnic to jointly launch the “Singapore Blockchain Developer Training Intermediate Course”. The first-batch class officially started on December 30, 2020. This course is funded by the Singapore government, sponsored by the Blockchain Association Singapore and Singapore Polytechnic. SmartMesh and MeshBox jointly developed the course contents and undertook the task of teaching and training. The course content covers DeFi, NFT certification system, public chain and enterprise blockchain design ideas and commercially available DLT solutions such as Hyperledger Fabric, OpenEthereum, SmartMesh Spectrum, IPFS, etc.
In order to maintain Singapore’s leading edge in the digital financial technology field, the Singapore government values blockchain education. The SmartMesh and MeshBox teams are fortunate to lead the development of this training course and undertake the task of teaching. On the one hand, the course trains talented people in blockchain development for Singapore, and on the other hand, it also exposes developers to the SmartMesh ecosystem. At the same time, SmartMesh also uses the earnings from the course to help fund future blockchain development by the Foundation.
2. A representative of a four-country collective in the ASEAN region sent good news to the SmartMesh Foundation on New Year’s Day 2021. The inclusive communication and inclusive financial solutions provided by SmartMesh and MeshBox was approved by the collective to provide socio-economic and digital transformation for the growth area.
