Share this article
Raiden Preview: Ethereum Scaling Solution Issues Developer Demo
The ethereum scaling solution Raiden has reached a notable milestone in a launch designed for early testing and developer feedback.
Updated Sep 13, 2021, 6:55 a.m. Published Sep 14, 2017, 11:00 a.m.
Make us preferred on Google
Ethereum's Raiden network, the proposed scaling solution designed to allow faster payments with lower fees, has issued a preview that can now be downloaded for testing.
Aimed to allow developers to familiarize themselves with the payment channel tech and its API prior to the official release, as well as feedback on potential issues, the preview isn't yet safe to use on the main ethereum blockchain as it still requires a security audit.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The Raiden team stated in an announcement:
"We hope that developers will check out the release, start prototyping [decentralized applications] and find and report bugs which will help us improve Raiden on our way towards a [minimum viable product] release."
Announced in 2015, Raiden is one of ethereum's answers to scaling, as it seeks to shift the majority of transactions off the main ethereum blockchain and thereby massively increase transaction speeds – potentially enabling millions of transactions per second.
Raiden also accommodates token exchange – meaning users don't need to use a centralized platform to trade – and features an API that can facilitate interactions with decentralized applications, or dapps.
All in all, with a test network for Raiden deployed by developers last week, the solution appears to be making strides toward production.
When that might be is still unclear, however. Raiden addressed the reasons for the uncertain timeframe in the announcement, saying, "payment channel network technology is even harder than anticipated, involving a complexity that goes beyond most common software development challenges."
To illustrate the project's advancement, its developers recently released an animated visual of its commits to GitHub (having made over 2,000 in the last six months). Further, a fully interactive visualization of the Raiden test network is available here.
Car lights image via Shutterstock
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
Bitcoin miners surge higher as Anthropic's fundraising efforts boost AI spirits
Anthropic is set to raise $20 billion in its latest funding round, double the amount it initially targeted, according to the FT.
What to know:
- Anthropic, the maker of the Claude chatbot, is set to raise about $20 billion in new funding at a valuation of $350 billion, according to the Financial Times.
- That's double the amount the company initially sought to raise.
- The news is boosting spirits in the AI sector, with bitcoin miners turned AI infrastructure providers like IREN, TeraWulf, Cipher Mining and Hut 8 surging higher.
Top Stories
