Topic: [ANN] [RDN] Raiden Network: Welcome to the Ethereum Lightning Network 🔥 - page 3. (Read 11486 times)

The Raiden Network is an off-chain scaling solution, enabling near-instant, low-fee and scalable payments. It’s complementary to the Ethereum blockchain and works with any ERC20 compatible token. The Raiden project is work in progress. Its goal is to research state channel technology, define protocols and develop reference implementations.

Features

Scalable
Scales linearly with the number of participants

Fast
Transfers can be confirmed within a subsecond

Private
Individual transfers don’t show up in the global shared ledger

Interoperable
Works with any token that follows Ethereum’s standardized token API (ERC20)

Low Fees
Transfer fees can be orders of magnitude lower than on the blockchain

Micropayments
Low transaction fees allow to efficiently transfer tiny values




The Raiden Network is an infrastructure layer on top of the Ethereum blockchain. While the basic idea is simple, the underlying protocol is quite complex and the implementation non-trivial. Nonetheless the technicalities can be abstracted away, such that developers can interface with a rather simple API to build scalable decentralized applications based on the Raiden.


Blockchains don’t scale well because there needs to be global consensus on the order and outcome of all transfers. Every participant needs to learn about all updates to the shared ledger. Hardware and bandwidth constraints set a limit on the number of updates per second that can be shared in a decentralized network. The basic idea of the Raiden Network is to avoid the blockchain consensus bottleneck. This is done by leveraging a network of payment channels which allow to securely transfer value off-chain, i.e without involving the blockchain for every transfer.

To learn more, read the Raiden Network 101, take a look at the current specification or check out the code.



The obvious use case for the Raiden Network is payments. Currently, the global payments industry generates roughly $2 trillion in revenue annually - and it’s growing.

• Retail Payments

There are quite a few high profile Ethereum token based projects competing to bring blockchain based payments to the masses. Especially in developing countries these efforts may potentially improve the life of millions. The Raiden Network can be a crucial building block, as significant adoption relies on scalable technology and competitive fees.

• P2P Cash

Cash as we know it is on the retreat as there is a trend towards cashless societies. Scalable blockchain based payments can help to preserve the private and decentralized nature of cash while updating its user experience to the expectations of a new generation.

• Micropayments

Blockchains are a hot candidate to become the payment infrastructure of the upcoming machine-to-machine economy. IoT may increase the number of commercial transactions by an order of magnitude - and the cheaper the cost of transfers become, the more use cases emerge.

Micropayments can be used to get fine grained access to APIs, bandwidth, computing power, storage, electricity, basically any infrastructure. The same goes for content or entertainment such as webpages, gaming, video or audio streaming.

Already today many proposed DApps rely on tiny payments between participants in the network to incentivise cooperative behaviour.

• Instant Token Swaps

Next to payments, the exchange of tokens is probably the second most prominent use case of blockchains. This is even more so the case, if the current trend of tokenization continues. Decentralized exchanges built on Raiden Network’s atomic token swaps feature allow to instantly exchange tokens at low cost.

Works with any token that follows Ethereum’s standardized token API (ERC20)

        Some Links:

• Website:https://raiden.network/
• Summary:https://raiden.network/101.html
• Blog:https://www.medium.com/@raiden_network
• Reddit:https://www.reddit.com/r/raidennetwork/
• Token Sale:https://token.raiden.network/

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An update on the progress of the development of the #ethereum raiden network.
https://medium.com/@raiden_network/raiden-development-update-apr-18-5cefa6bb60bc

Hey guys! Noticed you were interested in Raiden Network discussion. If you're not already on telegram you should join the active community for discussion surrounding mostly Raiden and also other scaling topics https://t.me/RaidenNetworkCommunity

All the best!

Is there any update on the progress of this project?

Even if this is a technology that gets integrated into Ethereum network, is it really worth a whole new token?  What will drive and maintain the coins prices after the initial speculation has faded away?

I think it is the scaling solution for ERC20 tokens, but not Ethereum itself, am I right?

For me this looks like a scam, because ethereum foundation already have funds to develop this.

The raiden team is focused on development. They are formmer member of ethereum dev team so they are closely related. Their scaling solution would be first of its kind in blockchain sector so it would be massive. Many projects successes are dependent of raiden network. Their marketing sucks but soon they will have full release so there will be no marketing needed it will be huge by itself as I see it

It is side project, but if the team will make that they want, Raiden Network will be best solution to the Ethereum scalability problem.