Ended yesterday testing the new version of Raiden Network, solutions for scalability of Ethereum. The new release 0.5.0, codenamed “Tanacetum” is part of a series of weekly updates test program, which started in July and will continue, as expected, even for a few weeks until the team completes work on his “summer version”.
The network of payment channels Raiden tends to make for Ethereum what makes Lightning for the Bitcoin blockchain: it intends to reduce transaction costs, increase transaction speed and make them less costly. She works outside a block of Ethereum and any tokens that are compatible with ERC20″.
In version Tanacetum included significant changes that break compatibility with previous test networks. New database format and repartitioned smart contracts mean that the user a series of test networks 0.4.x needs to update their software and your user data.
Among other new features: optimized the number of photos recovery, the new strategy fees, which ensures that the user will have enough gas for payment and more efficient processing of the transactions upon restart.
The update also fixes some previous errors — in particular, the client should now be compatible with Infura, third-party Ethereum node.
In addition, the term “transactions” is replaced by “payments” for reasons of clarity.
The network desperately needs this kind of solution
Although these changes represent the most significant interest for technical users and developers, they are a definite step for such an important decision for scaling, which so desperately needs the Ethereum network, because in the last months of its transaction fees are significantly increased. Although the failure of Ethereum is not as serious as the problems faced by Bitcoin in his worst times, she quite often there is a lot of congestion associated with different games and other dApps, which periodically block the work of the blockchain.
Regardless of its effectiveness, the network of payment channels Raiden will not be able to solve the problem of Ethereum, if it will not be accepted. Supporters of the project complain about the lack of advertising and team marketing. Network Raiden can be a serious competitor so hyped in the advertising aspect of projects as Sharding and Plasma, which do not skimp on loud advertising, despite the fact that are more remote solutions, but it needs to know more potential users.
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Tags: Ethereum Tanacetum µRaiden