RATE Group | Ethereum’s Raiden Network Releases “Tanacetum” Update, Inches Toward a Summer Mainnet Re…
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Ethereum’s Raiden Network Releases “Tanacetum” Update, Inches Toward a Summer Mainnet Re…

12 Aug Ethereum’s Raiden Network Releases “Tanacetum” Update, Inches Toward a Summer Mainnet Re…

Posted at 13:03h in Ethereum News by

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The Raiden Network, an Ethereum scaling solution, released a new version of its testnet today. The Raiden Network aims to do for Ethereum what Lightning is doing for Bitcoin: it intends to drive down transaction costs, increase transaction speed, and generally make Ethereum more spendable:

“The Raiden Network is an off-chain scaling solution, enabling near-instant, low-fee and scalable payments. It’s complementary to the Ethereum blockchain and works with any ERC20 compatible token.”

Today’s release of version 0.5.0, codenamed “Tanacetum”, is part of a series of weekly testnet updates. These releases began in July and will continue as the team works toward their “promised summer mainnet release”, which is expected in the next several weeks.

Breaking Changes

Tanacetum includes major changes that break compatibility with previous testnets. A new database format and redeployed smart contracts mean that users of the 0.4.x series of testnets must upgrade their software…

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