Ethereum (ETH) has been receiving backlash from its community. The problem is lack of scalability. Many initially believed that Ethereum (ETH) offers a scalable blockchain. However, when a few Ethereum (ETH) blockchain-based applications clogged the network, most of the developers realized that the blockchain of Ethereum is not that scalable after all.
Can Ethereum (ETH) achieve true scalability?
Raiden network has gone a step ahead and already implemented the initial version on Ethereum Main-net. The name of the network is Red eyes. It is in the initial testing phase. Once it moves out of the initial testing phase, an advanced version of the network will be rolled out on Ethereum (ETH) blockchain.
A lot depends on the successful testing of this network. Up until now, the trial is going fine. Soon the developers of Ethereum (ETH) will announce the unrolling of the network on a mainstream basis. When that happens, every transaction done on the Ethereum blockchain can be done using this network. As a result, the speed of the transactions will increase significantly.
As a result, smart contracts can get a boost on the Ethereum blockchain. When that finally happens, the Ethereum value can increase significantly as well. One of the main reasons why Ethereum coin has fallen so dramatically is because of the scalability issues. Once the scalability issues are ironed out, it will be very easy for Ethereum coin to gain back some of its value. As a result, the launch of this network is a big ETH news. It might trigger a move to buy Ethereum.
Investors are keenly eyeing this development to figure out when it gets launched on a more reliable basis.