Raiden’s test network to help Ethereum (ETH) to be traded on off-chain channels
Raiden, an “off-chain scaling solution, enabling near-instant, low-fee and scalable payments”, has announced the launch of its new test network at the Dappcon developer conference in Berlin on 19th July. Raiden’s latest inclusion will help Ethereum (ETH) to be traded on off-chain channels. The testnet will be analyzed for the last time before it gets available to the regular users.
Raiden’s mainnet implementation
This is a major step and as Lefteris Karapetsas, the core developer of the project, told CoinDesk: “It’s the first step towards going to the mainnet.”
Karapetsas added that this latest release is at its initial stage of mainnet implementation. It will own some newly rewritten contract code and payment channels that are recoverable in case of any accidental closure.
To find any potential bug, Karapetsas addressed developers asking them to use this testnet to find any. To financially back this, a program will also be announced. “We really want people to really test this so we have a user interface, we have an API and we’ve created an open Github for everything they could find, so if we go hopefully bug-free on the mainnet,” Karapetsas said.
When will it be launched?
The payment channel network for Ethereum, hasn’t specified when it will actually implemented. But Raiden is striving to stay true to its originally promised summer launch. “Until the end of August it’s still summer,” Karapetsas said. “Feature-wise the plan is to just launch with the same features that have on the testnet right now.” Raiden, in the meantime is trying to address some scaling issues of Ethereum and other blockchains.
Later, regular code updates and optimizations will follow the mainnet release.
“Raiden is essentially the payment channel network for ethereum, it’s supposed to help us scale token transfers,” Karapetsas explained, adding:
“The long term goal would be to have people use Raiden from a mobile device and be able to make off-chain token transfers just from their phone. That would be the long term vision, it would probably work in combination with various scaling solutions, sharding, plasma, a sort of hybrid.”
Image via Shutterstock
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