Months after raising a whopping $10 million in investment funding, Radar Relay is back on the headlines again, this time with some rather earthshaking news. The cryptocurrency startup is introducing Radar ION, an interesting technology meant for those who use their Lightning Network.
Radar Relay, a ‘trustless token trading platform for Ethereum tokens, will let users of its network leverage Radar ION and choose and fund their wallets using Testnet Bitcoin. The technology will also help its users know the apps that allow quick Lightning-based payments.
At the moment, ION’s wallets and applications are both featured on Bitcoin testnet called Mainnet. The first recommendations regarding the best apps for Lightning-based payments will be out soon, probably in a couple of weeks’ time. The news will probably be out at just about the same time when the Radar team will be readying itself to announce more apparatuses and resources that suit the Lightning network.
About the Lightning Network
It’s not easy to put into words what exactly a Lightning Network is. However, for something that has been hailed as the solution to the myriad of cryptocurrency scaling, it isn’t that hard to understand what it is. And so, a Lightning Network basically is what has been referred to as a ‘P2P web and it consists of over a thousand nodes, all operating unanimously without anyone’s permission.’
Our next product is live!
— Radar Relay (@RadarRelay) February 12, 2019
The nodes ideally are anything from similar computers, smartphones, and PoS systems to websites. They work as a web, assuming a mesh-like pattern with 2-party agreements, what’s fondly known as ‘payment channels.’
The essence of the nodes is to conduct a successful Bitcoin payment in uniform, a process that often takes seconds and still reduces the transaction fees to insignificant rates. And when that’s done, crypto enthusiasts would say scalability has been enhanced.