The Raiden Network is an off-chain scaling solution, enabling near-instant, low-fee and scalable payments. It`s complementary to the Ethereum blockchain and works with any ERC20 compatible token. The Raiden project is work in progress. Its goal is to research state channel technology, define protocols and develop reference implementations.
Scalable
Scales linearly with the number of participants
Fast
Transfers can be confirmed within a subsecond
Private
Individual transfers don`t show up in the global shared ledger
Interoperable
Works with any token that follows Ethereum`s standardized token API (ERC20)
Low Fees
Transfer fees can be orders of magnitude lower than on the blockchain
Micropayments
Low transaction fees allow to efficiently transfer tiny values
Use Cases
The obvious use case for the Raiden Network is payments. Currently, the global payments industry generates roughly $2 trillion in revenue annually - and it`s growing.
Product Categories : Currency Exchange