Bitcoin, Crypto currency, Blockchain

Micro “Raiden Network”-the Update goes live on the Ethereum network

3754ed14a7c35ad7fba8854cee96f8e5 - Micro "Raiden Network"-the Update goes live on the Ethereum network

An Update of the Version of the Raiden Payments-Channel network, was yesterday introduced to the main-Ethereum-a Blockchain. Thus, the Launch of the µRaiden (also referred to as “Micro-Raiden”), which was first tested in a test network in detail, a little later than previously announced.

The main idea of this project is to realize a simple implementation of the in-development-Raiden-network. Here, a mechanism is provided to bring the Micropayments even faster on the spot than it is with the current performance of the Ethereum Blockchain.

Similar to the Lightning-Netzwerzk of the Bitcoin should go to the transactions faster and less computing power is needed. Consequently, the cost of the network to process transactions, it will decrease.

With Raiden a second level, which exists in addition to the main Blockchain. As a result, all participants of the Ethereum can make use of network of other payment channels, it allows to lower costs of transactions. It is essential, whether Ether or other ERC-20-compatible Tokens are sent.

The goal of the development team of the micro-Raiden-project is to develop Tools for the Developer, with which you can distributed applications be able to develop. Furthermore, the payment channels are to be opened further, and the complex functions are bypassed, so that Raiden can go all the way to the Start.

On gihub.com Lefteris Karapetsas wrote that raiding should eliminate the Update error in the Code. He is also highlighted for payments deposited can be but also the the maximum number of RAID tokens (RDN) limited, and warned that the Version could always include Bugs.

“This is a bug bounty main net release. We recommend using only small amounts of RDN as channel deposits. To that end, we have limited the maximum deposit to 100 RDN,“.

Thus, there is a further progress in the Raiden project, which improves the scalability of the Ethereum network, and some progress could push.

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