RATE Group | Red Eyes Black Dragon: Raiden Network’s Alpha Live On Ethereum
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Red Eyes Black Dragon: Raiden Network’s Alpha Live On Ethereum

22 Dec Red Eyes Black Dragon: Raiden Network’s Alpha Live On Ethereum

Posted at 02:42h in Ethereum News by

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December 21, 2018 11:10 PM

The Ethereum-based payment network is ready for a test drive.

After the releases of the first Raiden Network proof of concept over two years ago, the Raiden testnet in 2017, and the project’s second testnet this past summer, the Red Eyes alpha has at last been deployed on the Ethereum mainnet. The Raiden team welcomes individuals to test the network “by doing token transfers and taking part in [the] bug bounty.”

Raiden is a second-layer solution designed to improve Ethereum’s scalability and privacy. The payment network relies on state channels, which facilitate transactions off chain and then submit the state changes to the main chain. This setup is designed to improve transaction speeds while reducing costs.

A couple of key features of the Red Eyes alpha include the “[o]pening, topping up, closing, and settling of payment channels” as well as “[s]ingle and multi-hop transfers.” There is also an upgraded protocol to deal with edge cases, gas-efficient EDCCs…

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