Raiden Network announced on May 27 that it has deployed the Alderaan upgrade to the Ethereum mainnet. This is the second major release and first full suite for the Raiden Network. It introduces features such as monitoring services (nodes don’t need to be always online), path-finding services (nodes don’t need to know full network topology), partial withdraw (settlement can be carried out without closing the channel), mediation fees (nodes can earn fees and balance the network), Raiden wizard and numerous bug fixes / improvements.

The Alderaan release of the Raiden Network is now deployed to the Ethereum mainnet! Take a look at the release blogpost for a detailed explanation of new features since the last mainnet release and how to get started with Raiden: https://t.co/N2vcrA7yoF— Raiden Network (@raiden_network) May 27, 2020

However, this is a beta release and the team urges people to understand the risk and use it with caution. This brings the Raiden Network one step to have a secure and reliable feature complete version, allowing other projects to build on top it and start integrating it with their DApps.

The Raiden Network powers fast, low cost and scalable payments on Ethereum mainnet. A node can be set up through Raiden Wizard for easy installation and configuration. Also, one click installation can be done using the DApp node package on DApp store.

About Layer 2 Protocols

The Layer 2 scaling solutions are decentralized protocols applied to increase the processing capacity of a blockchain (hence scaling) and as a result relieve congestion on the network. They work by delegating the network processing “off-chain” to their own chain, processing it there, before settling the final balances on the base layer mainnet.

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Disclaimer: The authors of this website may have invested in crypto currencies themselves. They are not financial advisors and only express their opinions. Anyone considering investing in crypto currencies should be well informed about these high-risk assets.

Trading with financial products, especially with CFDs involves a high level of risk and is therefore not suitable for security-conscious investors. CFDs are complex instruments and carry a high risk of losing money quickly through leverage. Be aware that most private Investors lose money, if they decide to trade CFDs. Any type of trading and speculation in financial products that can produce an unusually high return is also associated with increased risk to lose money. Note that past gains are no guarantee of positive results in the future. 


Posted By

Taha Zafar

Blockchain Expert. DeFi Enthusiast. Skilled in Fundamental Analysis and All Things Crypto.


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