a-ads
Friday, December 1, 2017
'Microraiden' Payment Channels Go Live on Ethereum Network
A streamlined version of the Raiden payments channel network has been launched on the main ethereum blockchain.
Activated yesterday, the launch comes months after µRaiden – known more commonly as "microraiden" – first launched on an ethereum test net. The idea behind the project, which is a simpler take on the still-in-development Raiden network, is to provide a mechanism for micropayments similar to bitcoin's Lightning network.
Like Lightning, Raiden is envisioned as a way to scale the ethereum network by building a second layer that would exist above the blockchain. Using the second layer, participants could create payment channels that allow them to transact at a lower cost, whether they are sending ethers (the cryptocurrency of the ethereum network) or ERC-20 compatible tokens.
With Microraiden, the development team aimed to build tools for decentralized application (dapp) developers to open up payment channels, eschewing some of the more complex features intended for the full Raiden launch.
"Talking to dapp developers, we noticed that many of them just want to use the Raiden Network as a robust many-to-one payment channel system; one service provider offering services to many recurring customers," the team wrote back in September.
On Github, developer Lefteris Karapetsas wrote yesterday that the version being released is aimed at sussing out any bugs in the code, adding that a limit has been placed on the maximum amount of Raiden tokens (RDN) that can be deposited for making payments.
"This is a bug bounty main net release. We recommend using only small amounts of RDN as channel deposits. To that end, we have limited the maximum deposit to 100 RDN," he wrote.
Source: CoinDesk
Subscribe to:
Post Comments (Atom)
Popular Posts
-
Many people ask "When is the best time to buy Bitcoin?" or "Will the price go down? I want to buy, but should I wait?" ...
-
Having hit two-week highs, bitcoin is now aiming for the $10,000 mark, but further gains may be transient, the charts indicate. via Coin...
-
The Lloyds ban applies to the group's 89 million credit card holders, including across subsidiaries such as Halifax, MBNA and Bank of ...
-
Having tested $11,000 this morning, bitcoin could close the month on a positive note, chart analysis indicates. via CoinDesk
-
The U.S. city of Virginia Beach has granted $500,000 to help establish a new bitcoin mine in the area. via CoinDesk
-
The London Stock Exchange is waiting to see which blockchain use cases gain traction before taking the plunge itself, CEO Nikhil Rathi has...
-
Cryptocurrency exchange Binance's in-house BNB tokens have shot to a $40 billion valuation, ranking them third among digital assets be...
-
The new KYC requirements come a week after Poloniex completed its U.S. exit. via CoinDesk
-
Not all unwelcome tidings can be dismissed as attempts to sow "fear, uncertainty and doubt," and shooting the messenger won'...
-
.@ConsenSys Introduces @OpenLaw1 #Ethereum Protocols For Legal Agreements https://t.co/4buPTfbISD [MORE]
No comments:
Post a Comment