Hey everyone!

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Welcome to Weekly Update 46. In this update, we’ll cover some exciting development around Storj testing micropayments using Raiden Network. We’ll also look into the usual Github activity for the latest testnet snapshot release and some change to the Rest API versioning. To spread some holiday spirit, we’ll finish off with Raiden Christmas spirited Non-Fungible Tokens (NFTs) that came out at the end of the week. Let’s dive in!

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Storj and Raiden

Storj is a next-generation decentralized cloud storage platform. It enables anyone to rent out extra hard drive space they own. Storj is available on the Ethereum mainnet and sends payments to its customers on a monthly basis. At the Ethereum gas price peak, they were sending payments to 150,000 customers for which they paid equivalent of 750,000 USD in gas. As they saw that current model was not sustainable, they decided to find an alternative solution.

Their research led them to Raiden and–with some assistance from the Raiden team–Storj created a testing demonstration for themselves. Their demonstrations proved they could send 100,000 payments over a single channel with minimal friction but there's more testing required that will be much more challenging.

A complete blog post about Storj’s work with Raiden, titled “Taking Payments to The Next Level with Raiden”, is found here. This is only the first article in the series where they’ll report how their testing progresses. It’ll be really exciting to follow how Storj tackles Ethereum scalability testing Raiden.

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Raiden v0.19.0 - “Polaroïd”

Polaroïd is the codename for the latest Raiden weekly testnet release. For this release, the development team continued to tackle newly discovered bugs and made one small change to the Rest API.

Rest API versions will from now on be versioned with a “v” prefix (eg. v1, v2 …). This change makes Raiden’s Rest API more in-line with a common practice when it comes to API versioning. Bugs fixed this week were all related to stability and not potential security flaws in Raiden protocol.

When upgrading to latest version, please close and settle all currently open channels. Furthermore, don’t forget to update routes in your Rest API calls!

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Development progress

For testing, reporting found issues and fixing them continues as the main focus for the development team. The bugs that have a potential of locking up the node, making it unable to send or process payments, are of the highest priority.

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Conclusion

That’s everything for Weekly Update 46. There’s been some exciting development around Storj testing micropayments Raiden this week, it’ll be interesting to see how that progresses. Just to finish up and get everyone in the Christmas spirit, there’s been some Christmas themed Raiden NFTs created at Crypto Xmas, where you can attach a personalized message (and some ETH along with it if you’re feeling generous to the friend you’re sending it to!). All Ether from the sales go towards a good cause, helping Venezuelans in need. As always, thanks to everyone in the community and those contributing to this update. Feel free to leave a question in the comments and /u/mat7ias or I will respond to help the best we can.

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Cheers!