Particl and Litecoin to launch cross-chain atomic swaps

Particl teams up with Litecoin to work on cross-chain atomis swaps
31 July 2017   1658

Particl and Litecoin are implementing cross-chain atomic swaps. The community's reaction seems to be a bit divided regarding the development. 

What is cross-chain atomic swaps?

Blockchain

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

Cross-chain atomic swaps is the technology that allows two people holding tokens on two different blockchains to trade directly – and instantly – without the risk of one party running off with the other's money before the trade is complete. 

Thus, being able to exchange between different cryptocurrencies without exchanges getting involved is significant. Some people could argue this can be done already through decentralized peer-to-peer software, however, those tools are incredibly difficult to use for the average person on the street. Even advanced users find it too much hassle due to low trading volumes. 

On the contrary, the developers can integrate this functionality into wallets directly, allowing for immediate exchanges between currencies.

The community's reaction

Litecoin

Litecoin features faster transaction confirmation times and improved storage efficiency than the leading math-based currency

In this particular case, users could instantly swap between Particl and Litecoin whenever needed. Particl's "part"of the community seems to be pretty excited about the news:

Particl and Litecoin to work on cross-chain atomic swaps The pic from Reddit.com

However, the response from the Litecoin community is less positive.

Thus, some users do not see any benefits from the development. It seems there are some harsh feelings toward the Particl team. It does appear some people blame the team for shutting down ShadowCash altogether. Additionally, one user claims how the team pumped “the shit out of” SDC and then crashed the market before killing the project.

How this Particl-Litecoin project will really turn out 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.