Ethereum [ETH], one of the biggest technologies and cryptocurrencies in the encrypted market it may soon be able to process 1 million transactions per second. This is with the help of Red Eyed Protoco by Raiden Networkthe. The protocol aims to downsize token transfers on the Ethereum network.
In addition, the release aims to test smart contracts and core protocol on Mainnet and allow Ethereum developers to control payment channels. -This is to open, reload, close and adjust payment channels.
Raiden Network Token (RDN) Raiden Network Token (RDN) is an off-the-shelf solution to the lack of scalability and transaction processing time of Ethereum. Raiden was designed to offer not only scalable token transfers, but also fast and cheap for Ethereum.
Cases of use of Raiden Network
1. Retail payments
The network can be a key element in bringing bulk blockchain-based masses to pay, as a meaningful adoption is based on scalable technologies and low costs.
2. Peer-to-peer cash
Blockchain-based scalable payments can help preserve the private and decentralized nature of liquidity, while updating the user's experience of the new generation's expectations.
3. Instant Tokens Swap
Token exchange is important. Decentralized exchanges based on the atomic token exchange function of Raiden Network allow for low-cost instant token swaps.
Red Eyes, on the other hand, is the very first version of Raiden Network installed on Ethereum's Mainnet. According to a post published by Raiden Network, the Red Eyes version is still being tested. Developers are therefore advised to be careful in using them and protecting their nodes before using the software.
Similar to the lighting network, which also aims to improve the scalability of Bitcoin, the Raiden network aims to provide a scalability solution to the scalability problems of Ethereum and thereby enable it to reach its 1 million transactions per second goal.
Just like any other currency in the encrypted market, Ethereum has had its ups and downs. But despite everything, the currency has had several results in this final bear market. Among these results is the creation of a success DAHP ecosystemand development of the code.
The developers of Ethereum have begun to concentrate their efforts on the long-awaited hard fork of Constantinople scheduled for the beginning of next year.