Gemini fails: ETH auction attracts no investors

First ETH/USD Gemini exchange's auction is dissapointing 
31 July 2017   1145

Gemini exchange's first Ether event in fact draws no investors' interest.

Bitcoin

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

Despite the fact that these are very troubled times for Ethereum as a whole, Gemini exchange has decided to experiment with ETH/USD auctions. These allow institutional investors to purchase large amounts of cryptocurrency with U.S. dollars.

Ethereum

Is an open-source blockchain-based distributed computing platform featuring smart contract functionality, which facilitates online contractual agreements 

The first auction took place last night and attracted very little interest. As reported, only 90 Ethers were sold during the auction. The first Bitcoin auction, in comparison, raised over US$1 million. 

Reddit users, as ever, do not remain silent. According to some of them, the auction volume will not pick up anytime soon.

Ethereum is shit mate, why are you so surprised over this?
 

Tolkabot
Reddit user

By such statement the user tries to argue that with prices falling, there is no reason to buy Ethereum right now until the markets stabilize.

However, this is just the very beginning and whether or not the Ethereum auctions will be successful remains to be seen.

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.