By: Geeq on Jul 1, 2021
Lun and Kieran got together for our second quarter technical update, which the Geeq community overwhelmingly told us they wanted to see on video. Good choice, community – they were great together!
Lun took Kieran through another refinement of Geeq’s public Testing Framework (TF). There were many elements familiar from Q1’s Testing Framework (TF v0.1) because it uses the same all-knowing perspective of the users, nodes, and network, and the elements of the protocol and blockwriting are laid out in the same way.
Whereas TF v0.1 demonstrated how Proof of Honesty worked (in a simplified way), Q2’s Testing Framework focuses on the life cycle of simple bearer token transactions. Keen eyes will detect Q2’s Testing Framework has changed to Micropayments TF v0.2.1 and Lun is running it on a desktop in a Chrome browser, using a Chrome web extension that he affectionately and accurately calls a proto-bearer-token wallet. Those constraints are likely to stay when TF v0.2.1 gets pushed live.
Without further ado, please enjoy the walkthrough and be sure to join us in chat any time to give feedback and ask questions!
Community Implications: The purpose of these Testing Frameworks is to show and share the working code in action: to communicate the transformative nature of Geeq. By showing how the protocol works under the hood to fund a micropayment from one wallet, take it through a spend transaction, and get added to someone else’s account – all on chain – it crystallizes how Geeq Pay will be able to implement decentralized micropayments with only a few clicks. Adoption depends on making life easy and rewarding.
Please share with your friends that these changes are not only possible, they are coming. They do not have to care about blockchain or decentralization to think through what it means to disintermediate payment platforms at scale. If they are already involved in Web3, please bring Geeq Pay to their attention. This is a time to join together, to win the freedom to flourish as individuals.
Technical Implications: The technical take away is that showing a bearer token as a “Geeq penny” was the simplest, most intuitive way we could think of to talk about micropayments. As always, the world is much more complicated.
What if you wanted a wallet full of dimes? What if you wanted a single bearer token for an odd amount, to go to a specific account? What if you wanted fractional pennies? All of these cases can be handled by Geeq Pay. A strength of Geeq’s technical team is that it sees through these cases of economic demands and distills them to the essential elements that will be needed. That is the work that has been done.
Commercial Implications: Because the code for bearer token transactions run easily and economically on chain, it is not difficult to understand there is commercial interest. This is especially true because Geeq’s multi-chain platform is able to handle micropayments at scale. Limitless and sustainable scalability is the kind of news people like to hear before they begin to think about altering business practices and/or disrupting markets.
We know you wanted the chance to listen in on Lun’s thoughts about where this track of development was going, right? He and Kieran chat about the tip of the iceberg.
If you’ve been following Geeq for awhile, you’ll know we changed our roadmap to focus on Geeq’s bearer token / micropayments functionality for Q2, for all the reasons above and more. Strategically, this has meant pulling resources from across the team to focus on Geeq Pay, one of the four pillars of Geeq.
We’ve always known Geeq will become the technological backbone of a vibrant decentralized future economy. All Geeqs share that vision and, as we have always said, Geeqs know where they fit in core and also use that core strength in various combinations to work toward many deeply-held objectives.
Q2 has given all of us (and you) more tools at our disposal, right at the settlement layer. It has clarified for us how to appeal to and build for certain kinds of users of Geeq Pay. These building blocks strengthen every pillar of the Geeq Multiverse.
Are we still on our roadmap? Yes, we are. We’ll also inform the community, as we did at the beginning of Q2, if we make any notable changes.
Are we in a different lane of that roadmap than we anticipated? Also yes. How will that affect development and adoption? The bottom line is adoption. Or, as CEO Ric says, “adoption, adoption, adoption”. There is a lot going on, and it is all measured in priority against adoption.
We hope you enjoy this video update and will be joining us more and more. As for next steps: we will release Micropayments TF v0.2.1 in the browser and from there, the next testing framework will be in the cloud.
Thank you for your support! Be A Geeq!
The Geeq Team