Micro Raiden, the Ethereum based, off-chain micropayments component of Raiden has just gone live. The aim of the project at the moment is to offer fast unidirectional payments. As it stands, it costs zero gas to transfer fees in this network. The people behind Micro Raiden describe it as an off the shelf payment channel framework.
What is Micro Raiden?
Micro Raiden is a component of the more significant project known as Raiden, which means lightning in Japanese. At current, Micro Raiden is designed to help facilitate microtransactions across the Ethereum network.
The Raiden network uses its ERC-20 token called RDN. Raiden recently finished it’s ICO and received more than 100,000 ETH, with RDN tokens currently going for about $3.50.
Beyond Block Taipei
Two representatives from Raiden each did presentations at the recent Beyond Block conference in Taipei. Cobinhood, OmiseGo, and Ethereum Foundation leader Vitalik Buterin all attended the meeting.
During the second of the two…