Bitcoin's Lightning Network receiving micropayments thanks ...

What is raiden? a quick guide for new users

Just a quick guide to Raiden for newcomers. I'm not an expert so please feel free to jump in with any information I've missed or anything that isn’t correct. Cheers.
What is Raiden?
"The Raiden Network is an off-chain scaling solution for performing ERC20-compliant token transfers on the Ethereum blockchain. It is Ethereum’s version of Bitcoin’s Lightning Network, enabling near instant, low-fee, scalable, and privacy-preserving payments." 1
In plain English, Raiden lets you transfer ETH or any ERC20 token-much faster and cheaper than is currently possible.
(See 'further reading' for details on what ERC20 tokens are).
So, it makes crypto transfers faster and cheaper. Is that necessary?
Yes. Currently, the Ethereum blockchain is capable of processing around 15 transactions per second. You may see this referred to as Tx/sec. By comparison. Visa has stated that they can operate at 56,000 transactions per second. 2
During busy periods the system can become clogged and transactions can take hours. Think back to the spat of ICOs in summer 2017, or the more recent CryptoKitties craze, for examples. Vitalik Buterin, the co-founder of Ethereum, acknowledged as much in a recent blogpost:
"With the Ethereum blockchain teaching millions of transactions per day, and both Ethereum and other blockchain projects frequently reaching their full transaction capacity, the need for scaling progress is becoming more and more clear and urgent." 3
If crypto is going to contend for mainstream adoption, it needs to speed up big time. This is where Raiden comes in. You don't need to wait for any blocks to be mined. Its transfers are instant.
And cheaper?
Transfers made on the Ethereum blockchain are calculated based on the computational resource needed to make it. Whether your transfer is big or small, the fee will not be massively different as they all go through a similar process.
With Raiden, the fees are proportionate. This means everyday transactions like buying a cup of coffee will carry a much smaller fee. Even making thousands of tiny payments of just a few pennies/cents will not add up to a large fee, as it would do in the current system.
How does Raiden work?
The Raiden network operates on top of the Ethereum blockchain, but a lot of the heavy lifting takes place off-chain. Transactions take place between two parties using something called balance proofs.
Near-limitless transactions can take place simultaneously, off-chain, with two exceptions; a one-off on-chain transaction at the beginning, and another at the end. You can read all about the specifics here.
A very simplified way to think about it is to imagine a train with 100 passengers all waiting to board in one queue. At the train door the conductor takes payment, gives out change, ensures everything is in order and lets customers on one at a time. This would take a very long time.
Now imagine there are 100 machines to the side that dispense tickets. Everybody goes to get a ticket instantly, then returns to the conductor. There is still only one conductor, but he can now quickly get the passengers on the train without wasting time.
In this analogy, Ethereum is the conductor and Raiden is the ticket machines. The passengers buy their tickets (make transactions) to the side (off-chain). There is still only one conductor (Ethereum blockchain). But instead of queuing up for ages and clogging up the system, the process is sped up by performing most of the work to the side (off-chain) and everybody gets on the train (makes a transaction) much faster. The destination is the same, but the journey is quicker.
Apologies for the very unscientific analogy :)
How long until Raiden is ready to go?
Raiden was initially scheduled for launch in March 2017 but was pushed back.
Currently Raiden is still in the development phase but a limited release is coming soon. This will give Dapp developers a taste of Raiden ahead of its full release. They'll also be able to build prototypes that can interact with the Raiden Ropsten-based test network.
What is µRaiden?
µRaiden is similar to Raiden in that it allows for off-chain transactions. The micropayments that happen off-chain are free, and µRaiden is already live. However, one major difference between this and Raiden is the linear transactions. It cannot be established for many-to-many payments like Raiden can.
And what is Raidos?
Raidos, or Raiden 2.0, is still in its early stages. Instead of only dealing in ERC20 tokens, it will look to cover all types of smart contract.
So Raiden, µRaiden and Raidos are all from one company?
Yes. If you invest in Raiden tokens, you're effectively investing in all three at once.
What is the point of Raiden tokens (RDN)?
For people who want to use Raiden without running a full node - which will be the vast, vast majority - Raiden tokens will have to be bought and used.
Users who run a full node will not require Raiden tokens.
I heard that the token isn't needed, and the ICO was just a 'cash grab'...
Originally, Raiden did not plan to launch a token or hold an ICO of its own. However, the company changed tack and held an ICO which raised just shy of 110,000 ETH. 4
The crypto community, and ETH holders in particular, felt that they were being robbed of value. Those who had bought and held Ethereum would have hoped the news of Raiden would boost the price of their holdings. But with a separate token the perceived consensus was that this move took value away from ETH and into RDN, at least in the short term.
Vitalik Buterin also weighed in on Twitter, saying he wished RDN hadn't held an ICO but equally stating that he understood it was necessary:
“I wish they didn’t [hold an ICO] but I totally understand why they did and do not blame them.” 5
The way things panned out left a bitter taste for many crypto investors. But the token certainly does have a very real use.
Where can I buy Raiden tokens (RDN)?
You can currently buy RDN at a handful of exchanges:
Binance
OKEx
Huobi
Kucoin
EtherDelta
Further reading:
What are ERC20 tokens?
Raiden 101
Vitalik Buterin blog update
Sources and links:
1 https://raiden.network/101.html 2 https://mybroadband.co.za/news/banking/206742-bitcoin-and-ethereum-vs-visa-and-paypal-transactions-per-second.html 3 https://blog.ethereum.org/2018/01/02/ethereum-scalability-research-development-subsidy-programs/ 4 https://token.raiden.network/ 5 https://twitter.com/VitalikButerin/status/911300771819352064?ref_src=twsrc%5Etfw&ref_url=https%3A%2F%2Fwww.ethnews.com%2Fvitalik-buterin-responds-to-raiden-ico
submitted by Live_Forether to raidennetwork [link] [comments]

BEST Way How To Buy Bitcoin With Paypal OR Debit Card 2020 ... How to Sell & Withdraw with Coinbase (Bank Transfer & PayPal) Binance Tutorial deutsch - Anleitung zum Kaufen und ... How to buy BTC in 2019 with PayPal! - YouTube Como Pasar Bitcoin a PayPal Bien Explicado Paso - YouTube Binance para iniciantes / Saques e Depósitos (Bitcoin ... How To Convert Your Bitcoin To Cash FAST Using Coinbase ... Tutorial Binance P2P - como Comprar e Vender Bitcoin com ... How to Buy Bitcoin with PayPal [2020] How to transfer Bitcoin to PayPal, without coinbase! - YouTube

Buy Bitcoin with Paypal; ATM. Buy Bitcoin ATM; Buy Bitcoin Near Me; with Credit Card. Buy Bitcoin with credit card ; Buy Bitcoin with Credit Card; Buy Bitcoin with Prepaid Card; Buy Bitcoin at Walmart; Buy Bitcoin Cash; Buy and Sell Bitcoin; Buy Bitcoin With Gift Card; Best Of. 23 Best Place to Buy Bitcoin Online 2020; Buy Bitcoin: Best Ways to Buy BTC Instantly; Best Bitcoin Sports Betting ... Similar to PayPal, where you don’t care about PayPal’s stock price when you use it, we shouldn’t care about Bitcoin’s price or even Bitcoin itself when performing micropayments, as long as the background scenario utilizes some sort of a distributed ledger for the benefits such an architecture offers, and not for the price of the respective token used in the transaction. Binance Coin $ 26.83 1.77%. Chainlink $ 10.14 0.8%. Polkadot $ 4.03 2.2%. Litecoin $ 56.21 6.2%. Cardano $ 0.092710 1.35%. Alle Kurse. SatoshiPay will zukünftig bei Micropayments auf die Bitcoin-Blockchain verzichten . Startseite; Aktuelle Artikel im Überblick; Krypto; Bitcoin; SatoshiPay will zukünftig bei Micropayments auf die Bitcoin-Blockchain verzichten . von Alina Ley. Am 18. Juli ... Imgur Raises $20 Million From Ex-Ripple CTO’s Micropayments Startup Imgur, a popular image hosting site, revealed it has received $20 million in venture equity from Coil , a micropayments tool ... While the economics of using Bitcoin to enable per-view payments seem to make sense from this perspective, there are also some issues with Bitcoin micropayments that need to be solved before this ... Bitcoin News Schweiz Die Universität Luxemburg hat heute bekanntgegeben, dass sie sich an der „University Blockchain Research Initiative“ beteiligt, einem mehrjährigen mit mehreren Millionen Euro dotierten Forschungsprogramm, das von Ripple, einem Anbieter von Blockchain-Lösungen für weltweite Zahlungen, finanziert wird. Joule Allowances ermöglicht BTC Auto-Micropayments. Seit seiner Gründung will Bitcoin das Versprechen erfüllen, ein Wegbereiter für regelmäßige, kostengünstige und sofortige Zahlungen zu sein. Keine leichte Aufgabe – insbesondere, wenn ein Block nur etwa alle 10 Minuten abgebaut wird. The following post about micropayments was written by Dmytro Spilka. He is the CEO at Solvid and founder of Pridicto, a web analytics startup that uses AI and Machine Learning to forecast web traffic, monitor vital metrics, and set visual traffic aims. Cryptocurrencies may have assumed the role of the quintessential water cooler topic over recent years, but there’s something stopping it from ... Bitcoin’s Lightning Network is getting micropayments thanks to something called Joule Allowances. This invention is thanks to the mind of one Willie O’Beirne, co-founder of Grant.io. One of the most prominent benefits of using Bitcoin is being able to send money across the world without any hassle, from as little as one cent to as much as millions.Most traditional financial services are limited when it comes to sending micropayments or large payments with huge fees attached to them, but Bitcoin is very different.

[index] [14430] [6061] [4636] [9811] [11512] [20945] [12803] [2838] [6352] [5286]

BEST Way How To Buy Bitcoin With Paypal OR Debit Card 2020 ...

Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube. https://www.coinbase.com/join/5991f6aa6529b7022969e7c4 Open a Coinbase account and get $10 in FREE Bitcoin when you deposit your first $100: https://www.coin... Tutorial Binance P2P - Veja como comprar e vender Bitcoin e outras Criptomoedas com PayPal, PicPay, Cartão de Crédito, MercadoPago e mais! Link: http://crypt... Get a Wirex card using this link to get $5 of FREE bitcoin when you order your card and another $5 of FREE bitcoin when you load it with min. $100 credit: ht... Nesse vídeo você aprenderá a realizar depósitos e saques na binance , acho que era isso , pronto falei . https://www.binance.com/?ref=10273283 Learn the best way how to buy bitcoin with paypal in 2019. You will learn how to start buying bitcoins with YOUR paypal account or debit card instantly with ... Binance Tutorial deutsch In diesem Video erfährst du wie man auf der Plattform Binance Kryptowährungen handeln kann und gegen Bitcoins kaufen und verkaufen k... bitcoin 2019 how to buy bitcoin with paypal, best way to buy bitcoin with paypal, buy bitcoin instantly, how to buy cryptocurrency uk best way to buy bitcoin, paypal to bitcoin bitcoin, paypal ... DA CLICK EN MOSTRAR MÁS Con localbitcoins podremos pasar bitcoins a nuestra cuenta de Paypal fácil y rápido, ademas de poder enviar... In this video, I show you how to sell your Bitcoin or other cryptocurrencies from your Coinbase account and how to withdraw your funds to your bank or PayPal...

#