Canada’s Central Bank will release cryptocurrency

CB would be issued cryptographic versions of fiat currencies
01 December 2017   602

Recently Ben Fung from the Central Bank of Canada and Walter Engert from the office of the superintendent of Financial Institutions published a document about the pros and cons for issuing central bank digital currency (CBDC). And they consider that it is possible for Central Banks to issue cryptocurrency. But they think the benefits from it would vary depending on whether how developed is the economy in countries.

Also they identify three different supposed benefits to a central bank for issuing a digital currency: payments for consumers, financial inclusion and stability. it would easy online payments and entice smaller merchants to offer services over the internet. In other economies, it can be benefits in reducing costs for retail payments to consumers.

Then they think that digital money would give consumers a largely risk-free way to store value but the ease of leaving bank deposits for a fiat crypto could accelerate financial turmoil.

 

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.