RED-Platform V0.2 Telegram Update
On the eve of Halloween, Restart Energy CTO and SWAZM CEO, Vali Malinoiu managed to tear himself away from his work on the RED-Platform for just long enough to provide a ‘thriller’ of a Telegram update and ‘stir the spirits’ of the community:
Hello everybody, I want to share some updates with you.
We’ve been working on a lot of things in the last few weeks, and I want to give you a few updates:
- We have successfully implemented a wallet that will hold MWAT/KWT, also we implemented a simple transfer feature that can be used by everybody inside the RED platform.
- RED’s SWAZM nodes are up and running in their own facility and we experimented with speeds between 2kk operations (90% reads 10% writes) within RED platform requirements.
- A quick update regarding the iOS application, we have been registered as an Enterprise so we can roll new apps very easily, the process took longer than anticipated, but the next version of the app will also be available on iOS.
- Everything that RED will register from transactions/signups/referrals affiliates meter readings and so on, are registered as a transaction on the SWAZM blockchain, inside the next version of the app will be a block explorer where everybody can check the whole platform status, like we said before we are going for full transparency.
- We’re on track with the next sprint, so you should expect a newer and upgraded app version soon, we are preparing in parallel to deliver everything until December.
RED community: How will the transaction records be updated for the previous version of tokens? Is it going to be the same set of tokens if I want to transfer to my Trezor
Vali: Swazm has an interchain operability component that will allow the tokens to be checked out onto the Ethereum Blockchain, but from now on everything will be traceable using the SWAZM blockchain
RED community: So in order to be sent out of the app do we need to send it to a SWAZM wallet owned by the team to then transfer to individuals?
Vali: RED is working on SWAZM, the wallet is owned by you and controlled by you, it’s just a different kind of cryptography than the traditional /private/public key pairs.
I want to point out, that even though I am not here as often as I want, we’re doing everything in order to make RED a transparent/stable platform maybe one of the first of its kind.
RED community: How’s it going with the trading engine, any progress on that task?
Vali: We’re investigating machine learning algorithms in regards to make a fair sustainable market, we’re even starting an ML division inside RED. https://arxiv.org/pdf/1804.04216.pdf an approach that we are testing/investigating is here
RED community: Can you tell us about the smart meters and how they operate within the SWAZM ecosystem?
Vali: The smart meters are connected live to the SWAZM network, what this means is that every few seconds a transaction is logged onto the SWAZM blockchain that represents a read from a smart meter, using the app you will see live how much your bill is how much you can deduct and so on
Everything and I mean everything, from a signup to a transfer operation to a meter measurement to a sale/buy order is a transaction on the SWAZM blockchain. That’s why is really important for us for everything to be fast, atm we have reached 2 million operations per second using 15*12*2 CPU cores, which is more than enough to support RED trading/transferring and anything else that might come up.
RED community: Is it wifi connected to the SWAZM network?
Vali: We’re investigating multiple ways to connect it to the SWAZM network, we have a prototype with wifi, we’re also looking over 3g connections using gsm modems, but yes the meters will be connected to the SWAZM network live.
RED community: I’m confused on the part of tokens that are actually on ETH chain already, are they going to burn the amount of tokens on SWAZM blockchain, if u are referring to inter portability, can u send us some hash of the transaction from SWAZM to ETH?
Vali: Think about an internal ledger of a popular exchange, only that this internal ledger is a totally different blockchain, as for the transactions, we don’t have anything deployed on the ETH mainnet, we are using custom nodes that have different difficulty settings in order to perform tests, but in terms of how it works, SWAZM has some HD wallets that own a series of smart contracts on the ETH network, and uses them to do bulk transfers, think about your money moving inside a bank and when you need them in your hand you go to the ATM, the bank is SWAZM.
RED community: It’s all a built-in feature of the RED app?
Vali: Yes, on the SWAZM blockchain
RED community: The contract can increase the supply of tokens at will then?
Vali: No, the contract can’t increase the supply of tokens, the contract is only a gatekeeper
RED community: That’s on ethics of team or written in code?
Vali: Ofc is part of the ethics of the team, but don’t take our word for granted, every transaction is logged and can be checked
RED community: That’s fantastic to hear. Will this all be completed in the end December timeline. I know it seems a lot of pressure.
Vali: We are growing a huge team here in Bucharest in order to make this happen, we are doing almost non-stop R&D in order to make sure that we can deliver this in December and we can handle everything that is thrown at us in terms of security and things like that.
One of the most challenging things, not only technical but also in terms of usability is making blockchain for everybody, it’s not natural or easy for anyone to use ledgers/trezors in order to make a transaction, we are iterating products of product in order to make a transfer as easy as possible, in the end, we are all people, not cryptography experts.
I invite you to take a look at some of the features that you actually see, and think that you will have a secured wallet locked by your pin and phone number :) and you can use it safely to transfer tokens
RED community: Will be good if there’s a chart compiled with blockchain datasets of deposits and withdrawals
Vali: In the document, you will see an initial version of the tx explorer :)
RED community: Yes I did see it I presume it’s SWAZM data, not the ETH ones, adding to it mentions you can store MWAT and other crypto assets, what does it mean?
Vali: SWAZM can store any kind of crypto asset as long it has a gateway written for it, the target with RED is to store KWT/MWAT and have records for green certificates.
RED community: I am still worried about the smart meters. To have them installed by the hundreds of thousands plus the risk of problems with the working of them in the beginning. Will the platform be able to work fine without them as well?!
Vali: Yes, the platform can also work without the smart meters, but you don’t have to worry, we are working on prototypes that can be installed by anyone
RED community: I understood they will be connected to the mainboard which works with 3 phase Electric Power in many countries, so it needs to read all 3 of them.
Vali: We have multiple types of meters depending on your energy profile
RED community: What really is SWAZM and Restart Energy relationship. Are you combining or will you stay separate entities in the future?
Vali: It’s something that we didn’t put much thought into it, but what I know is that they need each other, and are going forward together.
RED community: When we will be able to see a new update on app?
Vali: We have released the nodes to RED and they are up and running, also finished the code that RED needs to run on SWAZM, but you will have to wait a bit for everything to be released, because we are also merging old data directly onto this new structure.
RED community: So there will be no software update tomorrow so now we have only December for the app to be upgraded. I do not want to sound it like a disappointment but thought that after so many months we will be able to see at least some part of the working platform (this app now is only referral app nothing more).
Vali: No, the next release will not be in December, it is going to be soon
RED community: Would love to read some more about that somewhere, or is it still a secret because of competition?
Vali: We know that we need to get in writing a lot of our ideas and things that we are working on, but it’s either delivering or just talking for us, and we like to deliver.
RED community: What’s the team composition now how many are in for tech department and support?
Vali: So we officially moved to our new office in Bucharest, ATM we have 5 DEVS working on the app/protocol/product/integrations, 4 more starting in the next 2 weeks, hunting actively for machine learning, product design/development, low-level experts :)
RED community: Better like that than the other way around
Vali: We’re going to build a small team dedicated to technical writing because we feel that some concepts need to be explained and made public to the community, there’s a lot of tech that’s hard to explain, but it’s valuable and critical for us. it’s something that we want to have going on
RED community: A phone with SWAZM wallet can constitute a full SWAZM node? Or wifi meter with a hard drive will be a node?
Or SWAZM will be kind of private blockchain, with not any public ownership of nodes?
Vali: That’s correct, anything that has compute/storage can be a part of the SWAZM network and hold a piece of the blockchain and do a piece of the compute, in the future, everyone can hold a SWAZM node.
RED community: Vali don’t forget to enjoy your new marriage 😁 congratulations
Vali: Thank you, Armand tells me this very often, but for now, we must deliver what we promised.
In addition to this very informative Telegram session, Vali also shared a PDF showing the updates to the new version of the app. This can either be accessed through Google Drive or by following this link to Telegram.
We invite you to join our RED Platform’s beta and earn 50 MWAT for joining now; refer your friends for even more rewards.
Update 09.11.2018:
Vali: Hi everyone, we finished a part of the next release of the app, i want to give you a small sneak peak on how it will work:
Vali: And as you can see it’s on an iPhone; we had a lot of back and forth with Apple just because we are using “blockchain”, and it’s pretty hard to convince them to list us in the store, but we are managing it. :)
It’s a part of the next release but not what we are going to release in full for December.
I am also uploading a video showing a demo cluster using SWAZM in order to understand where do we got the speeds from:
https://t.me/RestartEnergy/169292 (161.9 MB)
This is the tool that we are using in order to do benchmarks:
