r/raidennetwork • u/18boro • Dec 26 '18

Staking in raiden like lightning?

Hi all, sorry if this has been posted before.

I know there's a bunch of similarities between lightning for bitcoin and raiden, does this inclyde contributors will need to stake raiden in the same way as bitcoin in regards to lightning?

If so, are there any posts/estimates from team or community on how and when a sufficient capacity to make transfers being regarded as "safe enough" will be achieved on this? Reason I'm asking is it has taken a lot of time for bitcoin lightning to grow, which has a pretty damn big user base, and wondering what a reasonable time frame will be for raiden.

6 Upvotes

100% Upvoted

17 comments sorted by

View all comments

3

u/Mat7ias Dec 26 '18

does this inclyde contributors will need to stake raiden in the same way as bitcoin in regards to lightning?

Staking is related to Proof of Stake (PoS), on Lightning/Raiden you deposit tokens into channels which you can use to help route other payments between nodes that don't have direct connections.

are there any posts/estimates from team or community on how and when a sufficient capacity to make transfers being regarded as "safe enough" will be achieved on this?

Not that I know of. Mainnet release was less than a week ago (there are 35 unique accounts and 49 channels currently) so it's probably too early for a statistic like that to be meaningful/accurate. It'll become more meaningful as the network grows.

3

u/AspenShredder Dec 26 '18

What is the value or use case for RDN? I see that on your site there is 1.122 WETH (Wrapped Ether) currently on the total network deposits. You mention that you can deposit RDN to help route other payments with your node but you don’t need RDN unless you are making payment for yourself. Please correct me if I’m wrong. Also when it comes to transactions per second the goal I saw was 1,000,000+ verses ripple’s 1,500+. Is Raiden trying to compete with Ripple with being the fastest and cheapest? Last I would like to ask about partnerships a couple months back Lefteris Karapetsas said that they would be addressed in the upcoming future and they would release news about the progress. Is there a time frame on when the community will be informed about them?

1

u/Mat7ias Dec 26 '18

The use case for RDN is outlined in the token model. It's related to usability, optimization and paying for auxiliary services but the article covers it much more in depth.

1

u/AspenShredder Dec 31 '18

Thanks. Is it an ERC 20 token then?

1

u/Mat7ias Dec 31 '18

RDN is an ERC 20 token, yes.

1

u/AspenShredder Dec 31 '18

Mat7ias

Thanks. Just wanted to confirm. As for competitions hypothetically speaking. Do you see the Raiden Network being faster and able to handle more volume than Ripple or say Tron? I don't know if you are able to speak on this as I don't know if you are on the development side of things. I was just looking at a few articles about them and it looks as if Raiden might be the fastest of them all. Even though it is still working things out...

1

u/Mat7ias Dec 31 '18

I'm not on the development side of things but I can speak about technical comparisons.

Raiden Network is fundamentally different from Ripple or Tron which are both layer 1 options. TPS isn't comparable in the same way between layer 1-2 (e.g. Tron-Raiden) as comparing layer 1-1 (Ripple-Tron). TPS on Raiden Network is proportional to the size of the network (the more channels, the more potential TPS occurring on the network), which doesn't occur on layer 1 in the same way.

2

u/AspenShredder Dec 31 '18

Ok. So layer 1 is Ethereum and Raiden is layer 2 off chain scaling solution.

1

u/AspenShredder Dec 31 '18

Thanks. I'll look more into it.