Micro Raiden Network Update goes live on the Ethereum network
An update of the Raiden Payments Channel Network version was introduced yesterday on the main Ethereum Blockchain. This was the launch of the μRaiden (also referred to as "Micro-Raiden"), which was initially tested in detail in a test network, a little later than previously announced.
The main idea of this project is to realize a simple implementation of the still developing Raiden network. Hereby a mechanism is provided to bring the micropayments into place even faster than is possible with the current performance of the Ethereum Blockchain.
Similar to Bitcoin's Lightning network, transactions are expected to be faster and less computationally needed at the same time. Consequently, this also reduces the cost of the network to process transactions.
Raiden is to build a second level that exists next to the main blockchain. This allows all participants in the Ethereum network to use additional payment channels that allow transactions to be carried out at lower costs. It is essential if Ether or other ERC-20 compatible tokens are sent.
The aim of the developer team of the Microraiden project is to develop developer tools for developing decentralized applications. Furthermore, the payment channels will be opened further and the complex functions will be bypassed so that Raiden can go completely to the start.
On gihub.com Lefteris Karapetsas wrote that the Raiden Update should fix bugs in the code. In addition, he also clarified that the maximum number of Raiden Tokens (RDN) that can be paid for payments is limited and warned that the version could still contain bugs.
"This is a bug bounty main net release. We recommend using only small amounts of RDN as channel deposit. To that end, we have limited the maximum deposit to 100 RDN, ".
There is another advance in the Raiden project that could improve the scalability of the Ethereum network and drive the course forward.
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