The Raiden Network, a solution for the sizing of Ethereum, has released a new version of its testnet today. The Raiden network aims to do for Ethereum what Lightning is doing for Bitcoin: it intends to reduce transaction costs, increase transaction speed and generally make Ethereum more expendable:
"Raiden Network is an off-chain scalability solution , which allows for almost instant, low-cost and scalable payments.It is complementary to the Ethereum blockchain and works with any ERC20 compatible token. "
Today's release of version 0.5.0, codenamed" Tanacetum ", is part of a series of weekly testnet updates. These releases started in July and will continue as the team works for the "promised summer mainnet release" scheduled for the coming weeks.
Tanacetum includes important changes that interrupt compatibility with previous testnets. A new database format and re-employed smart contracts mean that users of the 0.4.x testnet series need to update their software and migrate their user data.
Other new features include an optimized number of recovery snapshots, a lookahead strategy that will ensure that the user has enough gas to afford payment and better transaction management on reboot.
The update also fixes some bugs, especially the client should now be compatible with Infura, a third-party Ethereum node.
Finally, the word "transactions" has been replaced by the term "payments" for reasons of clarity.
Desperately needed solution
Although these changes primarily affect technical users and developers, they are small steps towards a desperate scaling solution, as Ethereum has had high transaction fees in recent months. Although Ethereum's jokes are not nearly as severe as the problems Bitcoin has faced in the worst of times, Ethereum is facing bottlenecks quite often, especially when blockchain and other dApp games become viral. .
But no matter what merits Raiden Network may have, it will not solve Ethereum spendability issues if it is not adopted. Supporters have complained about the poor publicity of the project and the lack of a marketing team. The Raiden network must now compete with Sharding and Plasma, two scalability projects that are significantly more high-profile, despite the fact that they are more distant solutions.