Ethereum Steps Toward 1 Million Transactions Per Second
On today’s episode of The Cryptoverse…
I would like to do a pro-Ethereum episode.
Raiden, a second layer solution akin to the Lightning network has now been deployed on the mainnet after 2 years on the testnet, with the promise of 1m tps.
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This is fascinating and I had no idea that Ethereum’s second layer solutions were so far along. This is good investor advice too.
I see huge potential for real life use cases though I suspect micro payment cases and longer term relationships between the two parties may be favoured. Raiden seems perfect for those.
But when one party wants to withdraw their deposit but only that party has presented their balance proof then we're told that Raiden will distribute the balances in accordance with that party's balance proof. My question would be 'how long does the closing party have to wait before Raiden determines that the other party has had enough time to respond with their balance proof?'
Also the fact that any address on the 'multihop' can instigate a withdrawal needs more scrutiny , I'm a suspicious bugger and that seems a to be a reasonably big fly in the off-chain ointment.
Dave
Very interesting. Could be the catalyst ETH needs to regain some market confidence.
The abacus analogie is pretty good. Thank you
Posted using Partiko Android
Merry Christmas. Its good to see you overcoming your bias. Wow, you are bullish about ETH.
This is great news in the short term for Ethereum. However, I fully expect Raiden Channels to exhibit the same constraints as BitCoin's Lightning Network. Long term, I am doubtful this is a true scaling solution that will lead to mass adoption.
Constraints?
It sounds like it works much how many of the exchanges deal with transactions in that not all are broadcasted to the blockchain, right? This is a great advancement and will probably help DApp developers deal with the scaling challenges exhibited last year if one becomes popular.
Posted using Partiko iOS
Interesting perspective on not being biased. I feel that is a positive perspective for any token holder to have.
I was married to my PIVX position last year, and finally departed with it. I lost out on some gains, but learned a good lesson.
Posted using Partiko Android
Holding my position in ethereum waiting for that next run. Im hoping it comes soon.