ERC-20 standards outside of the blockchain.&nbsp;</p>\n<p>These token transactions go through specific payment channels, also known as balance proofs, which are secured by hash-locks and <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-digital-signature/">digital signatures</strong></a>. Balance proofs serve the purpose of a binding contract. They&rsquo;re also monitored by the main chain.</p>\n<p>The key difference between the Raiden Network and the main chain is that a global consensus is not necessary within the Raiden Network.</p>\n<p>Payment channels utilize bi-directional transfer between two participants without the underlying blockchain&rsquo;s involvement.&nbsp;</p>\n<p>Additionally, when there&rsquo;s not a single <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-peer-to-peer-p2p/">peer-to-peer (P2P)</strong></a> channel available, Raiden Network enables mediated transfers. These types of transfers employ additional parties in a two-party exchange. Routing is also a crucial part of this kind of network since it manages mediated transfers through multiple nodes.</p>\n<p>Raiden Network is considered to be a <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-are-second-layer-solutions/">second-layer solution</strong></a> specifically for the Ethereum blockchain. Ethereum developed Raiden Network in order to receive assistance with scaling.&nbsp;</p>\n<p>Moreover, transaction fees were removed from the Raiden Network. Therefore, unlike Ethereum, <strong>Raiden Network allows completing small transactions of the ERC20-based tokens in a cost-efficient way</strong>.</p>\n<p>In essence, the Raiden Network is Ethereum&rsquo;s alternative to Bitcoin's <strong><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-lightning-network/">Lightning Network</a></strong>.&nbsp;</p>\n<p>Plus, comparing completing transactions on-chain and doing it through the Raiden Network, we can see that the privacy aspect is enhanced.</p>","level":"easy","meta_title":"What is Raiden Network? Definition & Meaning | Crypto Wiki","meta_description":"Raiden Network meaning: Raiden Network - is an off-chain, second-layer on Ethereum’s blockchain that operates as an immediate and scalable payment channel that doesn’t require global consensus.","meta_keywords":null,"language":"en","created_at":"2022-03-28T14:13:16.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-raiden-network"},"prevSection":{"id":663,"original_id":null,"author_id":40,"translator_id":null,"title":"What is Ring CT (Confidential Transactions)?","slug":"what-is-ring-ct-confidential-transactions","section":"R","keyword":"Ring CT (Confidential Transactions)","status":"published","definition":"Ring CT is an abbreviation for Ring Confidential Transactions, and it outlines how transaction quantities in Monero are hidden.","content":"<p><strong>Ring CT</strong>, short for Ring Confidential Transactions, describes how transaction amounts are withheld in Monero. They can be seen as regular confidential transactions because they both perform the same function of hiding the transaction amounts.</p>\n<p>Ring CT was first executed in <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-block/">block <strong>#1220516</strong> in January 2017. After September 2017, this characteristic became important for every transaction that takes place on the network.</p>\n<p>And it makes sense because Ring CT discloses and enhances the edition of ring signatures identified as a multi-layered linkable unexpected anonymous group signature, which enables concealed amounts, origins, and routes of transactions with a high degree of productivity and is a proveable and untraceable coin generation technique.</p>\n<p>The cryptographic proof is included in these confidential transactions that <strong>show evidence that the quantity of the input amount is the same as the quantity of the output amount</strong>.</p>\n<p>Furthermore, no numbers are required to be exposed, and users may still track which addresses gave and accepted funds.</p>\n<p>Overall, Monero transactions are invisible owing to ring signatures, and the destination of payments is disguised through stealth addresses. In regards to that, Ring CT manages to safeguard the confidentiality of more than just the transaction sums.</p>","level":"easy","meta_title":"What is Ring CT (Confidential Transactions)? Definition & Meaning | Crypto Wiki","meta_description":"Ring CT (Confidential Transactions) meaning: Ring CT (Confidential Transactions) - Ring CT is an abbreviation for Ring Confidential Transactions, and it outlines how transaction quantities in Monero are hidden.","meta_keywords":null,"language":"en","created_at":"2022-03-28T14:06:19.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-ring-ct-confidential-transactions"},"currentChapter":"R","currentSection":"what-is-roadmap","chapterTitle":"R","readingLevel":"easy"},"url":"/crypto/learn/crypto-terms/what-is-roadmap","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0">
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Crypto Terms: Letter R

What is Roadmap?

Roadmap MEANING:
Roadmap - A road map is a business planning method that sets out a project's short and long-term objectives inside a changeable timetable.
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Let's find out Roadmap meaning, definition in crypto, what is Roadmap, and all other detailed facts.

The roadmap for developing a product or a company should describe the project's mission and aim, as well as the developmental stages and an approximate time forecast for accomplishing these goals.

It might also be a tool for interactions, a high-level document that assists in tracking the defined reasoning behind the objective and the approach for achieving the goal.

If you were to create a roadmap, you would need to outline the broad sequence of what you would be constructing. It fundamentally necessitates stating the tactical position for your specific good.  And it is also required to relate back to the company's strategies.

You may explain the product strategy and vision to guarantee everyone is moving toward the same objective.

If you wish to develop a roadmap in the future, you must ask yourself a few key questions. These questions can be - what you want to achieve, why you are creating the product, and how it will benefit users.

Furthermore, a roadmap is a well-established visual abstract that aids individuals in mapping out their concept and the path of the specific good given over a pre-specified time period.

This roadmap defines the why and what you are developing, and it serves as both a leading strategic document and a blueprint for implementing the product concept. Also, it serves several purposes, such as explaining perception and tactic, supplying a governing file for strategy execution, aligning internal stakeholders, supporting debate as well as alternatives and scenario planning, and assisting in communication with external stakeholders.

The roadmap is sometimes displayed in a simplified form as a flow diagram, with production targets in boxes and estimated completion deadlines. The deadlines show the multiple phases of development and product achievements.
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