Hey everyone!

Welcome to Weekly Update 127. This week we’ll be going over Stakenet and DEX’s slightly more generally. You bet that we’ll also be covering the usual GitHub development of Raiden and an exciting new release! Let’s dig in.

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Raiden x Stakenet

Stakenet project is combining Lightning Network and Masternodes into a new blockchain for running decentralized applications. One of the first decentralized applications they are building is the Stakenet decentralized exchange. Currently, the decentralized exchange supports Bitcoin, Litecoin and Stakenet via Lightning Network integration. In the future they are planning to expand the list of the supported crypto currencies with the Ethereum ERC-20 standard.

Technology of choice which they believe will best support them in this integration is the Raiden Network. The Stakenet team, after dedicating some time into researching Raiden, are getting ready for the first testing of Raiden. For the first tests users will have to run a Raiden node separately and will have to use 2 different wallets (stakenet and ethereum wallet). However, after the initial setup user experience should be the same for trading as it is currently.

We will be following the progress of testing closely and cover it’s progress. It will be interesting to see Raiden enabling the DEX, especially cross-chain.

Development progress

The development goals remain the same as they were during the previous several weeks. The first goal is to prepare the demo for the Reddit Scaling Bake-Off while the second one is to reach the Alderaan milestone in the Raiden light client.

In the Raiden light client the Juggernaut testnet release was introduced. In this release the SDK has become much more robust. It includes many small bug fixes as well as some major reworks. Furthermore, it also introduces the completed withdraw functionality.

As the repository where the development team is preparing the demo for the Reddit Scaling Bake-Off is not yet open sourced we can only look at the changes made in the old repositories. It seems that the Raiden team is preparing a couple of bigger features one of which is handling something called “claims”. It will be interesting to see what exactly are claims and how they are integrated in the Raiden protocol.

Conclusion

To wrap up this Weekly Update, it’s exciting to cover DEX’s and Raiden Network being utilized for the name of decentralization. Don’t forget to check out the new light client release. If you’re interested to learn more about this update, DEX’s or Raiden Network in general then please leave a comment and we’ll get back to you.

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Cheers!