Raiden Network (RDN)

Basics

• Started in:
• Mainnet release: 27-5-2020
• Based in:

• Created by String Labs

• The Ethereum version of Lightning Network
• Raiden is a technology that leverages off-chain state networks to extend Ethereum
• “The basic idea is to switch from a model where all transactions hit the shared ledger on the blockchain (which is the bottleneck) to a model where users can privately exchange messages which sign the transfer of value.
• Raiden uses a network of p2p payment channels and deposits in Ethereum to preserve the guarantees expected from a blockchain system.
• Raiden is implemented as an extension to Ethereum. A Raiden node runs alongside an Ethereum node and communicates with other Raiden nodes to facilitate transfers and with the Ethereum blockchain to manage deposits. It offers a simple API which makes it easy to use Raiden in DApps.”

Use Case

• Micropayments for content distribution: Alternative to Paywalls, Ads and Subscriptions. (Figure a decentralized youtube where the creators of a video are paid for every second watched)
• Decentralized M2M markets: especially in IoT where tiny chunks of bandwidth, storage, cpu time, energy, sensor data, etc. can be traded.
• Frictionless Token Systems: Game Tokens, Reward Tokens, Private Currencies
• API Access: Accessing and monetizing APIs on a per use basis is at the core of the upcoming Machine-to-Machine economy
• Fast Decentralized Exchanges

Tech

• Whitepaper can be found [insert here].
• Code can be viewed [insert here].
• Built on:
• Programming language used:

Transaction Details

• Capacity (TPS):
• Latency:

Upgrades

• From EthHub #116 (1-6-2020):

"This week, the Raiden Network Alderaan release went live on the Ethereum mainnet. The Alderaan release is the first full suite version of Raiden and it introduces a bunch of exciting new features including monitoring services, pathfinding services and mediation fees, compared to the Red Eyes release."

Roadmap

• Can be found [Insert link here].

Audits

• Bug bounty program can be found [insert here].

Usage

• From this blog by Token Daily (7-7-2020):

"Using a Raiden explorer we can see that, at time of writing, the network has only 25 unique accounts and about 50 channels. Since the ethereum space's focus has largely shifted to more flexible scaling solutions, it is difficult to see a strong future for 1-to-1 payment channel networks such as Raiden."

Competition

• On how it is different from Plasma, read here.

Team, Funding, Partnerships, etc.

Team

• Full team can be found [here].

Funding

• Part of the portfolio of 8 Decimal Capital