The light version of the Raiden micropayment protocol is launched in the Ethereum test network
Developers of the Raiden Network project have launched a demo version of the additional micropayment protocol to solve the problem of scaling Ethereum in the test network of the block. This is reported by CoinDesk.
Developed to promote large projects, the Ethereum network, like many other cryptocurrency projects, faced the challenge of scaling. This is a huge amount of data included in the block, a copy of which must be downloaded by each node. In addition, today the Ethereum network is experiencing difficulties with the support of a relatively small number of users.
The Raiden Network project appeared just as a solution to the scaling problem. It is often compared with the Lightning Network protocol, a similar solution for bitcoin. The main objective of the Raiden protocol is to accelerate transactions and reduce commissions, but despite a number of recent updates, the project is still under development.
Simultaneously, the developers launched a demo version of a new product called μRaiden (pronounced: “micro Raiden). This is a simpler version of Raiden Network with fewer features, but work on it is almost complete.
μRaiden allows users to carry out micropayments directly from user to user, bypassing all the nodes through which transactions were conducted before. In this case, micropayments work only in one direction.
As stated in the project’s blog, despite its simplicity, μRaiden offers such a payment channel format that requires some decentralized applications, such as news channels or data warehouses.
“After communicating with the developers of decentralized applications, we found that they want to use the Raiden network as a reliable payment channel of the many-to-one format; For example, one service provider provides them to many regular customers. Such systems do not need full-scale networks and only benefit from the use of direct payment channels, “the record says.
It is noteworthy that such channels support the ERC-20 standard. This means that they work with a series of tokens, recently launched on top of the Ethereum blockbuster.
The developers are also optimistic about the probability of including the protocol in the main block of Ethereum and promise that the changes will happen “very soon”