Raiden Network partnerships

Information that will be soon announced is that Brainbot (a company which is developing Raiden Network) has already established partnerships with two companies, one is in China and the other one is a big electricity provider in Germany. There are also talks with two streaming websites which might be using uRaiden soon. My guess is that official announcements will be made after µRaiden is live, after 28-30th of November.

New Chinese Adoption

Chinese tech company SmartMesh to use uRaiden (microRaiden) as their default payment channel. The first of its kind, it will use Raiden as their default payment channel for IoT devices offline.

SmartMesh founded by Henry Wang, a Chinese physicist and internet protocol scientist. Formerly FPGA and ASIC architect at Erlang Technology Inc (engineering solutions for communications and computer industries.)

SmartMesh protocol allows IoT devices connect to each other using Near Field Communication. Whitepaper @ https://smartmesh.io/white-paper/

New Germany Adoption

Over the last few months, the Raiden team has been in close collaboration with one of the largest energy companies in Germany. The Raiden team built the PoC (Proof of Concept) for them and they got a good feedback. This will be a huge step for Raiden if the German company adopts Raiden as their payment channel. (No other energy company in the world is charging on demand like this.)

Why would uRaiden (Micro Raiden) be useful for such companies?

Well if you study Raiden Network FAQ and their technical papers you can see that µRaiden is a service perfectly crafted for such use cases. µRaiden uses unidirectional (many to one) channel to enable fast and cost free payments between two addresses (although one payment channel can connect many customers to ONE receiving entity).

So an electircity provider or a streaming platform can use µRaidenn channels to connect with thousand of customers who are able to pay them for the services provided. µRaiden system will pay auxiliary contributors for their services, including path finding and channel monitoring.

Watch it in live action:

We constructed a small IoT demo where a producer sells energy to a consumer. The provided and consumed electricity amounts are metered and the consumer pays for every 2000 watt seconds consumed. If the provider is not receiving payments, it will switch off the energy supply.

You can check µRaiden release status here:

https://github.com/raiden-network/microraiden/milestone/2

As for this moment November 25 it shows 33% completion of the target which was moved from due to 28th to 30th a few days ago. It was caused by an external audit which is not dependent on Brainbot (the company developing Raiden Network) but on the outsourced entity, responsible for auditing the smartcontracts. External audit is ongoing from 21st to 28th.

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Raiden Network vs uRaiden vs Brainbot

People are getting confused with it.

Raiden Network - this is the main project of what we call the Lightning Network of ethereum. It enables bidirectional payment channels between many users, many to one. Maine will be released next year, Q1 or Q2.

µRaiden - is a MVP of Raiden Network which enables unidirectional payments - many to one. Like many customers can pay to one electricity provider. µRaiden will be released this month based on what the team said on DevCon 3 in Cancun.

Brainbot - is a Germany based company with a branch in China, which is developing the Raiden Network and µRaiden.

Watch µRaiden in action: