Update from the Raiden team on development progress, announcement of raidEX

Hi!

The Raiden team at brainbot technologies is happy to report development progress is under way full steam. We are looking back on a highly successful year. Lefteris joined to manage the Raiden team, we released a series of PoCs, the raidEX project started and much more.

Steady progress towards an MVP

After releasing our first Proof of Concept, POC-0 in August of last year, we started working towards frequent PoC releases on a weekly basis.

However, focus in general has shifted towards creating the Raiden Minimum Viable Product (MVP). Its expected release date is around March 2017 and it will come with a proper API for the Raiden Network, solve a lot of current issues and create a boxed/easy to install version of Raiden.

For this year, we are pretty optimistic to get an ERC20 token transfer network live, which will crucially improve scalability, finality and privacy for the Ethereum blockchain.

State-channels, podcasts with Ameen & Augusto

To get a better understanding of state channels, Raiden and its relevance for scalability of the Ethereum network, listen to these recent podcasts by Ameen Soleimani (a rather high level introduction) and Augusto Hack (with a bit more in-depth explanations).

If you’re interested in an interesting Raiden use case, consider to watch our Raiden IoT demo video which features a near real time electricity metering and payment setup.

raidEX, the decentralized exchange built on Raiden

Extending on Raiden’s ability to perform atomic token swaps, we’re working on a decentralized off-chain exchange, which we call raidEX.

The website raidex.io describes the goals of the project, which are to combine the safety of an on-chain DEX with the low latency and high throughput properties of tranditional exchanges.

Industry interest for this, as well as the Raiden token transfer network has been tremendous and and we’re very excited about implications for the crypto space and beyond.

Raiden 2.0, outlook ahead, we are hiring!

Additionally, intensified planning work is carried out for Raiden 2.0, which aims to generalize the privacy, low latency and scalability properties of Raiden to applications beyond token transfers. Generalization requires, that the system needs to support non-unanimous state updates. Therefore Raiden 2.0 might end up looking more like a network of sidechains, than a network of state channels. Whatever the final design might be, the goal is to provide the tools to allow for broad industry adoption of the Ethereum blockchain.

For now, most of the team is busy coding towards the MVP and we always welcome volunteers to contribute to the code. There are some easy issues to get started on the Raiden github page. If you are looking for a full time engagement and think your skills complement our team drop us an e-mail at contact@brainbot.com.

Stay tuned for more updates and follow brainbot and Raiden on twitter!