TechnologyThe Raiden Network is an
infrastructure layer on top of the Ethereum blockchain. While the
basic idea is simple, the underlying protocol is quite complex and
the implementation non-trivial. Nonetheless the technicalities can
be abstracted away, such that developers can interface with a
rather simple API to build scalable decentralized applications
based on the Raiden.
Raiden Network 101
Blockchains don’t scale well because there needs to be global
consensus on the order and outcome of all transfers. Every
participant needs to learn about all updates to the shared ledger.
Hardware and bandwidth constraints set a limit on the number of
updates per second that can be shared in a decentralized network.
The basic idea of the Raiden Network is to avoid the blockchain
consensus bottleneck. This is done by leveraging a network of
payment channels which allow to securely transfer value off-chain,
i.e without involving the blockchain for every transfer.
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