Hey everyone!

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Welcome to Weekly Update 54. This week the team participated in CryptoMonday hosting a presentation called Raiden - 2nd Layer Scaling on Ethereum. It contained an explanation to the audience of what Raiden Network is and why an off-chain payment channel network such as Raiden is useful on Ethereum, along with a deep dive into the tech on topics such as routing multihop transfers, happy/unhappy cases for transfers and the WebUI. There was also a number of interesting events in terms of development, let’s dig in!

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Raiden install guide

Raiden Red Eyes is well into its second month since the release. Alongside the release, a detailed installation guide has been created as a part of the documentation. Last week, Raiden team released a video which showcases how to start using the Raiden network on the Ethereum mainchain.

We would like to remind everyone that Red Eyes bug bounty is still ongoing and finding a critical bug in the smart contracts is eligible to up to $10,000 equivalent in RDN. However, all user feedback is very valuable so we urge everyone to try out Raiden and share their experience. For any technical question you might have, the Raiden developers in the official gitter chat will be happy to help you.

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Development progress

Last week, the development team continued working towards the next release on the path towards Ithaca. Development is smoothly progressing in all the main repositories and very soon we can expect the next release.

Most of the focus in the last week has been given to simplifying certain parts of the codebase and development of the new features needed for the auxiliary services. Feedback provided by outside developers, testing and integrating Raiden, sparked ideas for new features which should further increase Raiden’s usability.

In recent weeks we’ve also seen some development planning/progress from another team towards potential Raiden swap functionality and XUD (Exchange Union Daemon) Raiden integration, you can read more about the aims around that here.

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Conclusion

To finish up the Weekly Update, It’s been an interesting week in terms of community discussion/research looking at some of the challenges revolving watchtower scalability and privacy. In parallel to the Red Eyes bug bounty, the path towards Ithaca is pushing forward with increased organization and development around auxiliary services. As always, thanks for reading and to everyone contributing to this update, don’t hesitate to leave a comment if there’s anything mentioned in this weeks update that you’re particularly interested in and we’ll get back to you the best we can.
Cheers!