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The blockchain industry e
the space of the digital currency has seen the
emerge of fascinating innovations over the years. The competition in the
the industry is becoming stronger and only the strongest could survive in this
condition. Ethereum (ETH) is now the third largest digital currency in the world
world by market capitalization.
Ethereum is one of the most
popular and used blockchain projects in the blockchain space. The blockchain
project has seen great competition from EOS, Tron, Stellar Lumens,
and more. Ethereum provides a platform for developers for creation and implementation
decentralized applications. More platforms have emerged in recent years
with similar characteristics and better experiences. Since then, Ethereum has been
looking for ways to improve their platform to maintain its relevance in
blockchain space.
Ethereum could soon process 1M transactions per second
Ethereum does not see the hour
process one million transactions per second. The blockchain project wants
to achieve this goal with the Red Eyes protocol of Raiden Network – a protocol that
is aimed at scaling down the transfer of tokens on the Ethereum network.
Red Eyes is the first version of
Raiden Network, the protocol has been implemented on the Mainnet of Ethereum
with success. The release of Red Eyes is in an alpha test phase, he says
Raiden via a blog post. The company issued a notice concerning the use of
the protocol. In a statement, the company said that developers should be very careful
when using, and they should protect their knot before doing so.
In the blog post, Raiden Network
he also added that the network is not yet ready for production. Raiden Network stated
that: "We are happy to announce that the
The Raiden Network Red Eyes version is live on Mainnet by Ethereum. The Red
The release of Eyes is an alpha trial version. It is extremely important to read
This post and safety notes carefully before using the software. "
The main reason for the release
is to test the smart contracts and the core protocol on the Ethereum network. In
In addition, developers can now top up, close, open and settle the payment
channels. The Lightning Network and Raiden Network have something in it
Common. They work similarly.
The Raiden Network is aimed at
provide a resizing solution to Ethereum sizing problems. The network
it will also allow Ethereum to reach one million transactions in a second. With
this new development, transactions that are processed out of the chain are faster and
cheaper than those taking place on the main Ethereum network.
At the end of last year and at the beginning of this
year, when Ethereum (ETH) was traded near its all-time high, the Ethereum
the network was very congested. The reason for the congestion was the increase
use of CryptoKitties and other decentralized apps on the network needed
process some transactions.
The Lightning network is also
aimed at solving Bitcoin scalability problems. In the future, both Bitcoins
and Ethereum could handle millions of transactions in a second without
causing a problem on their networks.
Ethereum Price (ETH) today – ETH / USD
Ethereum (ETH) is currently
trading at $ 123 after a decrease of about five percent compared to the past
twenty-four hours. The current market capitalization of the digital currency is $ 12.80
billions and its trading volume in the last twenty-four hours is $ 2.09
billion.
reported
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