Description
The Raiden Network is an off-chain scaling solution designed to enhance the Ethereum blockchain's capacity for fast, low-cost, and scalable transactions. It uses payment channels to enable secure, instant, and nearly free peer-to-peer token transfers, supporting Ether and ERC-20 tokens. This technology is analogous to Bitcoin's Lightning Network but tailored for Ethereum, facilitating micropayments and high-throughput dApps without congesting the main network. Key features include expedited transfer confirmations (<1 second), private transfers, and scalable transactions, addressing Ethereum's current limitations. Developed by Brainbot Technologies AG, the Raiden Network aims to support mass adoption of Ethereum by serving as a global peer-to-peer payments infrastructure. Despite its significant potential, project updates have been sparse since December 2017. The native Raiden Network Token (RDN) has a capped supply of nearly 100 million tokens and is actively traded on multiple markets. Applications include micropayments for content distribution, decentralized markets, API access, and fast decentralized exchanges.
The Raiden Network is an off-chain scaling solution designed to enhance the Ethereum blockchain's capacity for fast, low-cost, and scalable transactions. It uses payment channels to enable secure, instant, and nearly free peer-to-peer token transfers, supporting Ether and ERC-20 tokens. This technology is analogous to Bitcoin's Lightning Network but tailored for Ethereum, facilitating micropayments and high-throughput dApps without congesting the main network. Key features include expedited transfer confirmations (<1 second), private transfers, and scalable transactions, addressing Ethereum's current limitations. Developed by Brainbot Technologies AG, the Raiden Network aims to support mass adoption of Ethereum by serving as a global peer-to-peer payments infrastructure. Despite its significant potential, project updates have been sparse since December 2017. The native Raiden Network Token (RDN) has a capped supply of nearly 100 million tokens and is actively traded on multiple markets. Applications include micropayments for content distribution, decentralized markets, API access, and fast decentralized exchanges.
