Bitcoin Scaling Project Segwit2x releases New Code on June 30th

A controversial scaling proposal is moving ahead in adherence with its previously announced timeline
29 June 2017   1246
Blockchain

Distributed database that is used to maintain a continuously growing list of records, called blocks

The proposal, which has been praised by some as a pragmatic solution to the network's perceived capacity issues and derided by others as a deal that misunderstands the nature of bitcoin development and the network's intended design, is gaining momentum as Bloq co-founder and Segwit2x lead developer Jeff Garzik confirmed to CoinDesk that new code is set to be released on Friday, following two weeks of alpha release testing.

Thus, the last two weeks of development have been dedicated to testing, with the firms such as Abra, Bitfury, Blockchain, BTCC, OpenBazaar, Purse and Xapo using a new testnet ("testnet5") and a so-called faucet that spits out fake coins to test the system.

Bitcoin

Is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen

Now, as new information is coming out about a proposal, the aspects of the plan are clarified for the community and the participants: last week mining pools representing 80% of the bitcoin hashrate agreed to run the code that could lock in SegWit before 31st July. After that, three months later, is the hard fork to boost the block size. However, there’s still a threat that the fork could potentially result in a split into two competing tradeable bitcoin assets if not everyone agrees to upgrade their software to the change.

While this is the plan for later in the summer, bitcoin developer James Hilliard mentioned that the details of the 2MB hard fork portion are still up for debate.

Ethereum Scaling Solution Raiden to Launch Last Testnet

As noted by the developers, after implementing the new solution, the Ethereum network will be able to provide more than a million transactions per second
20 July 2018   162

On Thursday, July 19, at the Dappcon developer conference in Berlin, the last test network of Raiden for the Ethereum blockchain was launched, CoinDesk reports.

The release includes a minimal implementation of the scaling solution, which will allow the transfer of Ethereum tokens outside of the main blockchain. This is the last test phase before the introduction of technology into the core network of Ethereum.

It's the first step towards going to the mainnet. 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.
 

Lefteris Karapetsas

Core Developer, Raiden

According to him, the new release represents an early implementation for the core network and contains a new rewritten code of smart contracts and payment channels that can be restored in case of unintended closure.

Also, Karapetsas urged developers to join the test network to help detect possible bugs, adding that a bounty program will be launched to encourage this activity.

The release date for the main network has not yet been assigned, but the developers intend to follow this earlier promise and launch Raiden this summer.

Karapetsas also promised to publish regular updates and code optimizations after the full release, adding that Raiden will complement other Ethereum scaling solutions that are currently being developed.

Raiden is essentially the payment channel network for ethereum, it's supposed to help us scale token transfers. 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.
 

Lefteris Karapetsas

Core Developer, Raiden

Raiden is developing from the 2015 and is written mostly on Python. The project is much like the Lightning Network. As noted by the developers, after implementing the new solution, the Ethereum network will be able to provide more than a million transactions per second.