Radium Update #27 — Radium SmartChain Mercury Release Details
We are extremely happy to announce the release of Radium SmartChain Mercury. SmartChain Mercury is the name of the third version of the Radium SmartChain which has been completely refactored with respect to v2.4. This is the culmination of a lot of work and we are hoping it will provide the user benefits we’ve had in mind when developing this software.
In the upcoming few weeks we will be following up on this release with some marketing, a Radium Telegram Bot update and a Radium Core wallet upgrade. Stay tuned for the next blog post for more details.
Our intention is to start promoting real world use-cases of the Radium SmartChain as the potential applications of this software are vast. A lot of the future work on the marketing & business side will be concerned with this. If you would like to contact us regarding crypto-oriented use-cases of the SmartChain please contact[email protected] for all other business enquiries please contact[email protected].
We are also going to be working on some tutorials and wiki materials to ensure new users are able to quickly learn and use the SmartChain. More details on this coming in the near future.
You can find download links athttps://radiumcore.org/downloads or you can download them directly below:
Below is a high level overview of the main features that are included in the SmartChain Mercury 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, 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 hashes, and other users can verify which identity a note or file 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 files it has recorded in the past. In the 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.
- File Signing: File Signing allows 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 signing has a wide variety of uses; including signing official downloads, providing a timestamp for intellectual property and providing proof of file existence. Under the signed records tab one can record a file signature into the blockchain or verify the validity of a file by checking it against knows signatures previously recorded.
- 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 signed records tab. Double clicking on a note in the list displays the full text and any available additional information.
- 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.
Following 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: Occasionally, 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.
- Multi-Language Support: The next version of the SmartChain will include multi-language in a variety of languages.
- One Click Verify: The legacy implementation of One Click Verify will be overhauled and updated. One Click Verify is a windows plugin that allows a user to verify the signature of any file, from the windows right click context menu, without needing to launch the full SmartChain GUI.
We have some more tentative features we’re considering for future versions 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.
A view of the Users tab of Radium SmartChain Mercury
A view of the Users tab of Radium SmartChain Mercury