SmartRaiden Mobile Payment Gateway Goes Open-Source
In April, SmartMesh CEO Henry Wang announced that SmartRaiden would be released as an open-source technology indicating that a new era for mobile payment technology is being ushered in along with the opportunity for third-parties to build upon the SmartMesh blockchain ecosystem.
Based on Raiden Network functionality, the SmartMesh team has constructed a mobile cryptocurrency payment application in the Golang programming language which features far-reaching scalability that the original Raiden technology lacks. SmartRaiden enables offline and off-chain transactions that are decentralized, fast, secure, and convenient. Transaction fees made in SMT tokens are very low and SmartRaiden can operate not only on Android and IOS, but also on Linux, Mac and Windows.
The original motivation to develop SmartRaiden was simple: the SmartMesh team wants more people to have the opportunity to earn SMT tokens easily. When SMT tokens are distributed in a digital economy, people will exchange resources with one another, thus fostering growth and stability for the Mesh Network as a whole.
Of course, beyond being just a payment gateway, SmartRaiden has other functionality as well. Besides being a transaction path between nodes, SmartRaiden also can act as a relay-node where, in a position as Node B, can allow Nodes A and C to transfer value to one another without being directly connected to each other. In a nutshell, users will be able to pay SMT tokens to distant users that are both off-internet and off-blockchain at low costs and high speeds. SmartRaiden will be a catalyst for Mesh network usage, success, sustainability and scalability.
As a key technology for SmartMesh, once the Spectrum public blockchain goes live, SmartRaiden will be deployed on it. All applications running on Spectrum will use SmartRaiden as a payment gateway. This will keep the ecosystem tightknit, stable and interconnected while still giving it the agility to develop freely.
Spectrum will be the first blockchain project to feature SmartRaiden payments. In the future, all MeshBoxes will deploy SmartRaiden as well. Now that SmartRaiden has been released as an open-source project, countless other ventures like Spectrum will reap the benefits brought by this technology too.
SmartRaiden will also be deployed on the Ethereum main network and the Spectrum and Ethereum ecosystems will be connected. Applications running on Spectrum and Ethereum will be able to use SmartRaiden as a payment channel for the exchange of crypto-micropayments between the two networks. SmartRaiden is opening the gateway for cross-chain transfers between Spectrum and Ethereum, and also laying down the foundation for building a global blockchain ecosystem.
Now Henry Wang is welcoming all blockchain developers to join in and build upon the Spectrum blockchain. SmartMesh believes that by releasing SmartRaiden as open-source code it will appeal to qualified blockchain developers and entrepreneurs and attract them to deploy their innovations on Spectrum and cultivate SmartMesh ecosystem evolution and growth. The doors are open to take part in the creation of a robust and diversely featured blockchain ecosystem for the future!
