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“Raiddit” — Scaling Reddit Community Points with Raiden
With “Raiddit” it is possible to do 100,000 transactions (and many more) in a short amount of time. There is no limit or set amount of time that it takes to do 100,000 transactions, since the solution scales linearly. The more users, the higher the throughput. On top of that, Raiddit does so in a fully decentralized, low latency and off-chain manner with minimal blockchain interaction, thus keeping throughput high and prices low. For a detailed explanation of the solution and a video that fulfills the demo requirements from Reddit, take a look at the dedicated website and the open source Raiddit repository.
Key properties and features of “Raiddit” in a nutshell:
- low latency
- cheap transfers
- high throughput that scales linearly with increase of the user base
- off-chain minting
- off-chain burning
- lightweight in-browser solution possible via the Raiden light client
The Raiden team has been hard at work over the course of the last month in order to make a proof of concept and demo for the Reddit Scaling Bake-Off. For a detailed overview of the challenge and the requirements, you can take a look at the official Reddit post. Raiddit is a payment channel solution based on a modified version of Raiden. To understand how Raiden and payment channels work in general, this website is a good place to start. Due to the fact that fast and cheap token transfers is the core value proposition of Raiden, we never worried about Raiden struggling to process 100k transactions. Some of the other requirements were a bit more difficult to solve with vanilla Raiden, so we had to come up with ways to fulfill the requirements for on-boarding users very cost efficiently as well as minimizing the on-chain actions and costs related to burning tokens. However, ...
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