light-client VS raiden

The information arbitrage is pretty remarkable because they get a bunch of money for printing air tokens out of thin air and selling a portion of it. They then use the money mainly to control narratives. How many people even know that literally all eth traffic runs through central infura servers? Why? Because it doesn't scale without central servers. It also doesn't scale on-chain which is what they promised 7 years ago when they asked you to give them bitcoin to create a turing complete blockchain. They tried a lot of other stuff before roll-ups with centralized sequencers with trusted multisigs. They even tried to copy Lightning and funded Raiden network.

Examples: Bitcoin’s Lightning Network, Ethereum’s Raiden Network

Think of the blockchain as being the settlement layer between banks, and each roll-up or payment channel as its own bank.

Raiden Network - an instant payment solution with low fees compatible with all ERC-20 tokens.

Just an FYI: with Hub20 you can accept payments with any Ethereum-compatible blockchain and any scaling solution that uses the RPC interface (e.g, Polygon, Arbitrum, Optimism, Gnosis Chain). It also works with Raiden, which is akin to BTCs lightning network.

Except that anyone with a minimal involvement with Ethereum already knows that the base layer is not meant to be used on day-to-day operations.

We already learned about the decentralization trillema. The strategy to scale Ethereum through will be through the adoption of "layer-2" systems, where users are expected to be doing their transactions and avoid these costly transactions altogether.

There are roll-ups already dealing with NFT marketplaces [0]. There are roll-ups that can execute any type of ethereum smart contract [1] [2]. There are payment channels that allow completely decentralized and gas-less transfers of ERC-20 tokens [3].

[0] https://loopring.io

[1] https://optimism.io/

[2] https://offchainlabs.com/

[3] https://raiden.network

Raiden Network, ethereum's equivalent of lightning network, has been live on mainnet since 2020. It has little to no traction/usage as rollups are a much better scaling solution than state channels.

For those that are technical, the main selling point is its integration with layer-2 systems and support for multiple chains. It doesn't matter if you want to accept payment with Raiden or Arbitrum/Optimism, or xDAI/Polygon or BSC, your frontend does not change at all.

The point you are so reluctantly refusing to see is that it is about options and the long tail. Yeah, the majority of business and people are fine with the status quo. It doesn't mean that the rest should just conform.

> Other than that, unless you use Nano, every crypto transaction comes with a fee (...) slower than normal transactions

- https://raiden.network (near-zero fee transfers, akin to Lightning Network, running on Ethereum)

Raiden network is probably the closest equivalent of lightning network, but there are a couple of other projects using similar technology on Ethereum.

Raiden sees v0.6.0 "Metamorphosis" with an updated database format and changes to the REST API.

Raiden v0.3 is released.

The Raiden client looks almost completely ready for the Coruscant milestone. The development team created a couple more release candidates in the last 7 days, the latest one being Coruscant - mansard. All packages in the Raiden Client were updated to the latest versions and a few more optimizations were also successfully completed. Open issues section of github looks clean of any reported bugs and we can see an open task for the Release 3.0.0.

Referencing this latest release: https://github.com/raiden-network/raiden/releases/tag/v3.0.0rc3

Development progress is looking great in the past week. Release candidate for Coruscant milestone was introduced in the Raiden Client. This release candidate will help the development team in testing and debugging. For now, the open issue section looks clean of any bugs discovered.

The Raiden Testnet is launched.

Coruscant - Songpa adds support for the cooperative settlement. Furthermore it also introduces performance improvements to payments and the WebRTC transport layer. Backward compatibility with version 2.x is broken which means channels opened with older versions need to be closed, settled and re-opened.

The Raiden Client has also seen some nice progress. Progress in the Raiden Client repository can be followed here.

In the Raiden Client repository they successfully completed WebRTC integration. Also, the work in progress version of cooperative settlement feature was introduced. Cooperative settlement was also successfully completed in the Raiden smart contracts. Other work includes minor codebase cleanup and fixes.

Raiden v0.100.4 "thehighfiveghost" is out on testnet, bundled with Raiden Services, and including channel withdrawals, permissive source routing and the handling of pruned blocks.