Ethereum Launches Final Raiden Testnet In Preparation For Public Launch
Raiden is one of the latest projects from Ethereum, helping to employ a new scaling solution for the major platform. However, in effort to ensure that this solution will work with minimal complications, Ethereum announced the release of their Testnet at a developer conference in Berlin on July 19th. This will be the final Testnet before the project is launched, though the main developer on the project calls it the “first step towards going to the MainNet.”
With this new scalability, Raiden functions as a payment channel, allowing Ethereum tokens the freedom to be traded off-chain. According to Lefteris Karapetsas, the main developer, this new coding will feature rewritten smart contract code, along with payment channels that can be used as a recovery method. This preventative measure would save tokens on the chain if the account is accidentally closed.
When Karapetsas released the announcement at Dappcon in Berlin, he also requested that developers that accessed the Testnet work to eliminate any bugs. To give a bigger incentive, he plans to implement somewhat of a bounty program, though this opportunity is not yet available. In a statement to CoinDesk, Karapetsas said,
“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.”
After seeing many issues arise with scalability, the company is still working a tentative date for the release. However, they have already promised that the launch will happen during summertime, and they plan to stick with the deadline. Karapetsas said,
“Until the end of August, it's still summer. Feature-wise the plan is to just launch with the same features that have on the Testnet right now.”
As the project makes progress, there will be ongoing code updates and other optimizations to be added, even after the MainNet release. The whole point is to continually adapt the scaling to the users’ needs, which will coincide with the other technologies that will develop a more enhanced Ethereum platform.
The whole point of Raiden is to act as a payment channel, but with the scalability needed for token transfers. Karapetsas explained,
“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.”