Raiden Network

« Back to Glossary Index

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.

« Back to Glossary Index

Check Also


Coinbase Base Launch: A New Milestone In The Crypto Industry

Coinbase, the world’s leading cryptocurrency exchange, has recently launched a new feature called BASE, aimed …

AdBlock Detected

Looks like you are using an ad-blocking browser extension. We request you to whitelist our website on the ad-blocking extension and refresh your browser to view the content.