µRaiden: a new micropayment Ethereum testnet released

A testnet version of µRaiden (pronounced: “Micro Raiden”) has been released to both give the users a hint which functions the full version of Raiden will contain and to introduce a new payment method. The post introducing the project tells that many dApp (decentralized application) developers are interested only in the micropayment feature of Raiden, so it was natural to release the abridged version – in other words, it’s practically like GIMP for those who don’t need the full toolkit of Photoshop. The team defines µRaiden as “a robust framework to implement instant and free pay-per-use payment channel technology in commercial applications”.

The channels of this testnet are compatible with the ERC-20 standard, which makes it work with recently issued Ethereum tokens. µRaiden is not yet released in the main Ethereum blockchain, but the development team promises to do so very soon.

In other Ethereum news, the Ethereum Foundation devteam has increased the bounties for finding bugs in the recently introduced Byzantium hard-fork.