Ethereum Network Embraces ‘Microraiden’ Payment Channels

Ethereum Network Embraces ‘Microraiden’ Payment Channels

Months after microradian’s (µRaiden) initial launch on the Ethereum test net platform, another strain of Raiden has been launched. A much more streamlined network variety of Raiden payments channel is set to operate on the core Ethereum blockchain platform.

The project idea that was borrowed from the simpler Raiden network offers a similar micropayments mechanism as Lightning network which bitcoin uses.

The new advancements

Raiden, just like lighting, is set to construct a second layer over the blockchain to provide a means to scale on the ethereum network. Through this second layer, individuals would generate various payment channels that support ether and ERC-20 token transactions.

Microraiden enabled its development team to construct decentralized application developers’ tools encompassing more complicated features on the payment channels that spur Raiden full launch.

The team in September stated that many dapp developers were ready to utilize the one-to-many recurring customer service and the robust payment system that Raiden Network provides.

The possibilities               

Lefteris Karapetsas, a developer, on Github explained that the version released aimed to deal with any bug that might be prevalent in the code. He added that as for the Raiden tokens (RDN), there was a limit on the deposits’ maximum amount for making the payment. Specifically, the major net release will permit a small RDN channel deposits amounts up to a maximum of 100 RDN.