First version of Raiden Network successfully deployed on Ethereum

Raiden, a protocol for scaling token transfers on Ethereum today announced that the Raiden Network Red Eyes release is live on the Ethereum mainnet. The Red Eyes release is the first Raiden release on the Ethereum mainnet. Red Eyes is an alpha testing release, not production-ready, and is intended only for testing the Raiden Network (RDN) on the mainnet.

The Raiden team says it is “crucial to read the security notes carefully before using the software.” They also stressed to the community that everybody is welcome to test it on the mainnet by doing token transfers and taking part in the bug bounty.” The main goal of this release is to have the smart contracts and the core protocol battle tested on the mainnet.

Features Included In The Red Eyes Release

Safety Measures For The Red Eyes Release

Since the Red Eyes release is an alpha deployment of the Raiden network on the Ethereum mainnet, the team has put in place strong risk mitigation measures to limit the potential damage caused by bugs or misuse of the software and to ensure a responsible testing environment for this nascent technology. Also as noted, the Red Eyes release is not security audited by an external party yet.

Deposit limits are 0.15 ETH per channel / 250 ETH total maximum network value, plus a deprecation switch has been put into place. Additionally, the Red Eyes version of the Raiden Network is limited to one token network, wETH (wrapped Ether).

Limitations Of The Red Eyes Release

Feature limitations in the current release include:

The Raiden team aims to tackle some of these functional limitations working towards the Ithaca milestone.

Important Security Notes

Known Issues

Below are listed is a non-exhaustive list of known issues, which users should be aware of while using the current version of the software. Most of these issues are not Raiden specific, but rather apply to all Ethereum L2 solutions.

[perfectpullquote align=”full” bordertop=”false” cite=”The Raiden Team” link=”” color=”” class=”” size=””]”We hope that you’ll enjoy testing the software and doing off-chain token transfers, using our payment channel network on the Ethereum mainnet. This is an early step of bringing the Raiden Network’s vision, which we have been working on for a long time, to life and we are happy to have you on board as first adopters. We are excited to hear your feedback and to jointly push the Raiden Network to the next stage. Thank you for your ongoing support! Last but not least, a special thanks goes out to DigitalVirtuesExchangeUnionKI decentralized and MyCrypto, who are supporting the Red Eyes launch of the Raiden Network by running Matrix homeservers for the Raiden Transport.”[/perfectpullquote]

In order to get started, read the documentation and download the latest version of the Raiden Network from GitHub.