Raiden Network

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It is an off-chain scaling solution that is focussed to enable the low-fee, near-instant and scalable payments similar to the Ethereum Blockchain. This network is similar to the proposed Lightning Network of Bitcoin. The network interacts with the tokens that are built using the ERC-20 standards of Ethereum. This network differs inoperation from the main chain as it does not need the global consensus. It stands out owing to the increased privacy as compared to when sending the coins on-chain. The protocol is used to facilitate micropayments, token swaps and retail payments.

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