ETHERLive delivers real-time price and volume data across 16+ exchanges to users in a clear and easy-to-understand package. Users can get up-to-the-second updates for each exchange/currency pair, as well as aggregated market averages for each exchange, currency, and the market as a whole. It also provides a global converted average of all the currency pairs monitored by ETHNews, converted to USD.


24hr ---

The Basics

Learn the basics of Ethereum and various cryptocurrency technologies

Learn More

What is Ethereum?

Understand the underlying principles of the Ethereum Platform

Learn More

The Blockchain

Discover the revolutionizing technology known as the blockchain

Learn More

Press Release

Submit a press release for consideration on ETHNews

Submit Press

Story / Dapp

Submit a story or DAPP to be considered for publication on ETHNews.

Submit Story


Submit "Ethereum Explainer" content for consideration to be featured on ETHNews

Submit Topic
ETHNews Logo
Ether Price Analysis
Contact Us

Red Eyes Black Dragon: Raiden Network’s Alpha Live On Ethereum




The Ethereum-based payment network is ready for a test drive.

After the releases of the first Raiden Network proof of concept over two years ago, the Raiden testnet in 2017, and the project's second testnet this past summer, the Red Eyes alpha has at last been deployed on the Ethereum mainnet. The Raiden team welcomes individuals to test the network "by doing token transfers and taking part in [the] bug bounty."

Raiden is a second-layer solution designed to improve Ethereum's scalability and privacy. The payment network relies on state channels, which facilitate transactions off chain and then submit the state changes to the main chain. This setup is designed to improve transaction speeds while reducing costs.

A couple of key features of the Red Eyes alpha include the "[o]pening, topping up, closing, and settling of payment channels" as well as "[s]ingle and multi-hop transfers." There is also an upgraded protocol to deal with edge cases, gas-efficient EDCCs (aka smart contracts), and a redesigned web user interface, among other features.

Moreover, Raiden has implemented various safety measures to help protect users, as Red Eyes is in alpha testing, and the security of the network has not been audited by a third party. Accordingly, the team has limited deposits to 0.15 ETH per channel; the sum of all channel deposits is limited to 250 ETH; there is only one available token network, WETH (wrapped Ether); and there is a deprecation switch, allowing Raiden to close the network if a major security issue arises.

The Raiden Network is like Bitcoin's Lightning Network (LN) in enabling quick off-chain transactions. The main difference is that because Raiden is on Ethereum, a full implementation of the network would be compatible with all ERC20 tokens, whereas the LN is limited to Bitcoin and Litecoin.

Implementations of the LN, though, have been live on Bitcoin for some time. For example, Lightning Labs' LN beta was released in March. It appears that Raiden is finally catching up.

Dani Putney

Dani is a full-time writer for ETHNews. He received his bachelor's degree in English writing from the University of Nevada, Reno, where he also studied journalism and queer theory. In his free time, he writes poetry, plays the piano, and fangirls over fictional characters. He lives with his partner, three dogs, and two cats in the middle of nowhere, Nevada.

ETHNews is committed to its Editorial Policy

Like what you read? Follow us on Twitter @ETHNews_ to receive the latest Raiden Network, Ethereum or other Ethereum ecosystem news.