SegWit: successful atomic swaps performed

First steps to SegWit ecosystem: SegWit enables coins
26 September 2017   1745

This week was a significant step forward for the SegWit Ecosystem as SegWit enabled coins. Thus, Litecoin has been successfully exchanged through Atomic Swaps with Decred, Vertcoin, and then finally Bitcoin, as reported by cointelegraph.com.

On September 19th 1.337 LTC was swapped for 2.4066 DCR.  Although they ran into difficulty at first, they were able to complete the swap via on-chain transactions through Decred’s repo wallet, as detailed.

Then, on September 20th, the Litecoin creator teamed up with the lead developer of Vertcoin, to perform another Atomic Swap. James was able to port Decred’s code to VTC and this time the two successfully exchanged 1 LTC for 55 VTC. 

Finally, on September 22th Charlie worked with a John S to perform Atomic Swaps between LTC and BTC. The two followed the same processes outlined above and successfully swapped 10 LTC for 0.1137 BTC. 

It is also noteworthy, that the exchanges the Litecoin creator Charlie Lee did with DCR, VTC, and BTC did not utilize SegWit.  However, this technology will be necessary as a fully functioning and scalable Atomic Swap system will require the Lightning Network. 

Litecoin charts on coinmarketcap.com Litecoin charts on coinmarketcap.com

Meanwhile, at the time of writing, Litecoin price is about $51.97, its market capitalization is $2,759,304,948.

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   133

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.