Raiden devs to launch an ICO

Raiden, the solution for Ethereum that will improve the internal work processes of the protocol, will be financed through its own initial coin offering (ICO). The development team seeks both to finally increase transaction capacity and to have the finances ready to cover fees that will come with the network. Users won’t even know that this update comes at a price if the ICO proves successful.

Some components of the network have already been released in the form of µRaiden, a tool that gives the idea about micropayment opportunities that will be available in Raiden.

Ethereum, the second most popular cryptocurrency in the world, is known for its big and transparent developer community and the amount of peculiar protocol updates, both released and pending release, is impressive compared to other cryptocurrency chains. The cryptocurrency creator, Vitalik Buterin, a Canadian citizen with the Russian origins, actively promotes Ethereum around the world and takes part in development of some protocol updates, keeping them under close observation.