Raiden Pulse #20: Updates from Q1 2022
We are back, Raideneers! This time around, we are introducing a new format: Quarterly updates covering all sorts of news and progress across strategy, product, community and team.
First, we hope you are all alright in the face of the recent Luna meltdown. We hope that you all overcome this difficult setback safely. It’s a painful but valuable lesson to learn.
That being said, with this new quarterly Raiden Pulse edition, we officially resume the regular updates on the state and progress of Raiden.
Raiden Network — Snapshot of Q1 Updates
- Focusing on Protocol access and viability by decreasing setup costs and increasing convenience for users in a rollup-centric future. Aiming at better and faster support for developers and projects.
- Raiden on top of an L2. After releasing a stable and feature-complete version, Q1 2022 was fully dedicated to the deployment on an L2 solution. The result is better and viable access to the protocol, as well as new unique properties for the IoT and M2M industries.
- Preparing for a migration to Discord: making it a Raiden-owned one-stop community space resulting in faster and better community support.
- The team is growing. Welcoming Stacy as a full-time Community Manager and Bilel as a part-time Business Development Manager.
Focusing on Protocol Access and Viability
The protocol is now feature-complete as of the end of 2021. Moving forward, the Raiden team wants to make the protocol accessible and viable for other projects and developers to use. This includes:
1. Reducting setup costs
Regarding onboarding costs, using the Raiden protocol on Ethereum Mainnet still remains out of reach, especially for the use cases of microtransactions. In Q1, the Raiden team was fully dedicated to piling the Raiden protocol on another layer 2 scaling solution to bring the setup costs down to acceptable levels.
2. Securing Raiden in a rollup-centric future
A rollup-native version of Raiden makes the protocol more accessible in terms of setup costs and ensures a more comfortable access to Raiden for the respective Layer 2 users. It makes Raiden ready for a rollup-centric future.
3. Better support to developers and projects
We have now dedicated people to provide technical assistance to whoever is considering testing or implementing Raiden. We have set up an internal process to tackle incoming partnership requests directly on our Discord server.
Coruscant and Krittika Mainnet Releases
The Raiden protocol has reached a stable and performant state beginning 2022 with new Coruscant and Krittika releases on Ethereum mainnet. Those releases were the most performant and stable ones with over six new features and marked the feature-complete state of Raiden.
The Raiden Network on Another L2
The setup costs on Ethereum Mainnet were making Raiden fairly inaccessible to test and use. Therefore, since early 2022 there has been ongoing work to deploy the Raiden Network on Arbitrum. It successfully went live in Q2, marking the beginning of a new era for Raiden. It represented a significant milestone that made a lot of positive noise and made it into the week in Ethereum news. We will dive deeper into it in our next Pulse edition.
Raiden’s New Positioning in the IoT Space
The new attributes of Raiden on top of a rollup match future use cases of high frequency and automated micro transfers. One-time setup costs, then granting close to free off-chain P2P transfers. The higher the volume of micro transfers, the more profitable it is to use Raiden over other existing scaling solutions. We see an opportunity in the emerging IoT industry. Specifically for recurring machine-to-machine payments, where instant finality, fast transaction, and high throughput at the lowest price are vital. This is where Raiden as a scaling solution can shine.
Another big achievement that started in Q1 is the transition to a Raiden-owned Discord server that serves multiple purposes. We aim to create a one-stop community space to interact with the Raiden team directly. It is the official contact point between the Raiden Team and the community, allowing faster and better communication. We will share some first exciting insights in the upcoming Q2 updates.
All the exciting changes above could not have been possible without our Raiden newbies, who joined in Q1. We are very grateful to have them on board and are looking forward to seeing them flourish within the team.
Meet Stacy, our Raiden Community Manager
Stacy joined our marketing team. She is leading community management and support. Additionally, Stacy helps in content creation and runs community-focused projects. She represents the voice of Raideneers. A true multi-talent when it comes to life achievements. She studied philosophy, did comedy, ran her own business, and was a community superstar for blockchain projects over the past 5 years.
Fun fact: “I watched Lord of the Rings 53 times. Yes, I’ve kept count of it haha.”
Meet Bilel, our Business Development Manager
Bilel joined as a part-time Business Development Manager very recently. He is the go-to person for any partnership, integration or business collaboration requests. As a true partnership master and Blockchain Tech maximalist, he helps bring blockchain to companies and startups worldwide.
Fun fact: “I have never watched Lord of the Rings.”
That’s it for Q1! We see tremendous progress and are very excited about what’s in store for Raiden. Stay tuned for the upcoming Q2 updates!
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The Raiden Team
Please note that even though we do our best to ensure the quality and accuracy of the information provided, this publication may contain views and opinions, errors and omissions for which the content creator(s) and any represented organization cannot be held liable.
The wording and concepts regarding financial terminology (e.g. “payments”, “checks”, “currency”, “transfer” [of value]) are exclusively used in an exemplary way to describe technological principles and do not necessarily conform to the real world or legal equivalents of these terms and concepts.