How to Develop a More Robust Lightning / Raiden Network on any platform in Days Using Dragonchain
“Can DRGN scale Bitcoin like a layer 2 lightning or plasma?” I was recently skimming the Dragonchain community channels when I came across this question from @RyuPrime on telegram.
Not only could Dragonchain scale Bitcoin and other blockchains like a 2nd layer that the Lightning Network / (Plasma) Raiden Network is boosting; honestly Dragonchain could do it better, easier, more flexible/customization and implemented much faster.
So how does the Lightning Network / Raiden Network work?
For more information on both networks check out:
How would Dragonchain solve this issue?
It’s pretty simple, it’s in fact so simple I’ll even walk you through the set up as well.
Dragonchain is a fully-managed cloud platform for businesses to build blockchain applications and smart contracts in a way that is fast, flexible, and secure. The Dragonchain platform has been developed to help businesses build blockchain solutions faster and Interchain blockchain to blockchain with solutions out of the box; so actually we already have everything you need, so you wouldn’t have to develop anything new for the ‘blockchain’ side.
Blockchain transactions on Dragonchain are verified using Dragon Net. This community network is made up of 5 layers of independent nodes that are ran by Dragonchain users. This network could commonly be referred to as a consensus network. Payload data remains private on level 1 nodes, and verified by layers of Dragon Net. Dragon Net serves as the gateway between the Dragonchain platform and public blockchains. When a transaction passes through level 5, it can then be recorded on a public chain like ETH, ETC, NEO, or BTC―using Interchain capabilities.
Both Lightning and Raiden Networks focus on lower value transfers boosting lower transactions costs, scalability and speed.
By utilizing serverless deployments, solutions built on Dragonchain harness the compute power of popular cloud services such as AWS; easily overcoming scalability and speed issues seen on other blockchains. Dragonchain community members also validate transactions based on their Proof of Time (DDSS), combining with cloud resourcing allows low predictable transaction costs.
Setting up a Bitcoin/ERC20/NEP-5/(Token Agnostic) Transaction Processor using Dragonchain:
- A company would simply need to set up an L1 Dragonchain Node(s)(dependent on TPS needs) which is completed at the click of a button.
- Set up an Interchain Smart Contract(s) at a click of a button with desired blockchain(s) to facilitate interaction.
And that’s it.
Start immediately conducting transactions on your Dragonchain with the capability to ground the security of those transactions onto BTC, ETH, ETC and NEO all at the same time for unprecedented security / hashing power.
Not to mention that this route would not require users to lock tokens up nor would a user need to decide between using this method or another for large or small transaction sizes. No limitation of a partner payment channel user being offline (apparently that’s an issue).
Nor would there need to fear centralization. Some crypto experts believe that the Lightning / Raiden network might actually encourage centralization in payment hubs, a process fairly similar to miner centralization as the trustless consensus method of Dragon Net is being applied.
This route would also apply to not only payment transaction processing but business logic processing in general.
Reimagine Data, not your IT infrastructure. What would you build today?
If you need a more robust Lightning / Raiden network style solution for your blockchain application send a message to Dragonchain. BTC, ETH, ETC and NEO interchains are available now for immediate deployments and always taking consults to develop interchain to any blockchain.