In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche
Oddly, full-time monitoring could make the Raiden Network more secure. To clarify, there will always be a guard on duty to catch crooks at Raiden. I think such vigilant monitoring is a far greater deterrent to bad guys than encryption and security managers.
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uRaiden could serve all the purposes outlined above because it is an interface between Ethereum and blockchain platforms.
uRaiden will apparently integrate with application programming interfaces (APIs) and platforms. That is important because APIs enable online platforms to talk to payment systems.
uRaiden contains a pay-per-use function that could easily pay for video or game content. Obvious uses of pay-per-use uRaiden include; PAYG installment plans, utility payments, and phone minutes. The uRaiden-Pay-Per-Use feature is up and running on the Ethereum Testnet.
An obvious use of uRaiden’s Pay-Per-Use feature is taking payments for YouTube videos. For example, YouTube reportedly had 1.8 billion users in May 2018. Pay-Per-View on platforms like Hulu, Netflix (NASDAQ: NFLX) and the WWE Network is another obvious use for uRaiden Pay-Per-Use. For instance, Netflix reportedly generated $11.69 billion in revenue in 2017.
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The claims of Ripple’s value you have seen in the mainstream media are greatly exaggerated.
The misconceptions about Ripple come from the way “investment news” is covered by the big media.
Despite the inaccurate stories about it; Ripple is actually a pretty good investment as cryptocurrencies go. It has some value characteristics including a high Market Cap and a Low Coin Price.
More importantly, Ripple’s technology is being adopted and evaluated by large companies and financial institutions. MoneyGram (NASDAQ: MGI) is examining the possibility of using Ripple’s ecosystem for money-transfers and remittance payments, a Ripple press release indicates. MoneyGram has been described as the second-largest transfer service in the world behind Western Union (NYSE: WU).
Raiden is designed to solve the biggest problem with the existing Ethereum network. The current Ethereum network can only process around 10 payments a second; the Brainbot team hopes to build a network that can complete around 100,000 transfers a second.
The long-term goal at brainbot is to build a network that will become a “global scale payment infrastructure” similar to that operated by Visa (NYSE: V). If that goal was achieved the Raiden Network would be even bigger than Visa’s. The current VisaNet can handle 24,000 transactions a second, or 150 million transactions a day.
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