Raiden

Raiden is a scaling solution for the Ethereum blockchain designed to enable fast, cheap, and secure off-chain transactions. It works by opening payment channels between users, allowing them to transfer value directly without each transaction being recorded on the main blockchain. Only the opening and closing of the channels are on-chain, reducing congestion and fees. This mechanism ensures instant transfers while maintaining the security and trustlessness of the underlying blockchain. Raiden aims to facilitate microtransactions and improve Ethereum's overall transaction capacity, making decentralized applications more practical for everyday use.