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21 December 2018 23:10
The Ethereum-based payment network is ready for a test drive.
After the versions of the first proof of concept Raiden Network more than two years ago, the testnet of Raiden in 2017 and the second testnet of the project last summer, the alpha Red Eyes was finally distributed on the main network of Ethereum. The Raiden team welcomes people to test the network "by making token transfers and participating in [the] bug bounty. "
Raiden is a second-level solution designed to enhance the scalability and privacy of Ethereum. The payment network is based on the status channels, which facilitate off-line transactions and then send status changes to the main chain. This configuration is designed to improve transactionsion speed reducing costs.
A couple of keThe characteristics of the Alpha Red Eyes include "[o]Pening, topping up, closing and settlement of payment channels "as well"[s]multiple and multi-hop transfers. "There is also an updated protocol to manage borderline gas-efficient EDCC cases (aka smart. contracts), and a redesigned web user interface, among other features.
The Raiden network is like Bitcoin's Lightning (LN) network to enable fast off-line transactions. The main difference is that since Raiden is on Ethereum, a full implementation of the network would be compatible with all ERC20 tokenss, while the LN is limited to Bitcoin and Litecoin.
The implementations of the LN, however, have been live on Bitcoin for some time. For example, LN by Lightning Labs the beta was released in March. It seems that Raiden is finally catching up.
Dani Putney is a full-time writer for ETHNews. He graduated in English at the University of Nevada, in Reno, where he also studied journalism and queer theory. In his spare time, he writes poetry, plays the piano and dances on fictional characters. He lives with his partner, three dogs and two cats in the middle of nowhere, Nevada.
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