show
show
Witnessing the digital breakthrough

Byzantium delayed, Raiden ICO meets criticism from Buterin

25 September 2017 00:00, UTC
Byzantium delayed, Raiden ICO meets criticism from Buterin

Ethereum protocol network and the chain of blocks of this second most popular cryptocurrency are under constant upgrade. The Byzantium hard-fork (which will not lead to segregation as SegWit did with Bitcoin) is being developed with the aim to counter malefactors who try to corrupt the network. This hard-fork has already been activated in the Ropsten test network, serving as a sandbox environment for future Ethereum updates. The reason for the delay is said to be the need for further testing and finetuning to ensure the proper release.

Another update, Raiden, that will improve the internal mechanics of the protocol and further optimize the blockchain, has recently launched an ICO to cover implementation fees. None other than Vitalik Buterin, the creator of Ethereum, has once again demonstrated his skepticism towards initial coin offerings. He told this situation is unacceptable and created a special fund to provide finances to open-source projects, as not only Raiden dev team plans to finance its project through initial coin offerings. Mr Buterin tells he heard rumors some other teams were considering the same financing method and this must be stopped. “When you have funding problems there is surely a better way,” Reddit users support.



Read the best crypto news analysis here! bitnewstoday.com Bitcoin, investments, regulation and other cryptocurrencies
Found a mistake? Select the text and press CTRL+ENTER
Leave a comment
Leave a comment
Report a mistake