Raiden Network is a token with its own nuances

Today the crypto market has about two thousand cryptocurrencies. Each of them is, according to the developers, an exceptional virtual unit with its own characteristics, properties and purpose. Introducing an overview of Raiden Network (RDN)

Team

The team consists of eleven people. CEO of Raiden and its founder Heiko Hees, who was the main developer of Ethereum. The director is consultant Oliver Bunting, who has experience in software development.

Project

The project took two years to develop. The main goal is to create an easy-to-use channel for non-Ethereum blockchain payments, increase the speed of transfers and reduce fees.  But at the same time, software developers claim that their brainchild is not a competitor to Ethereum, but its complement.

 The program uses the open source code of Github, as well as the Ethereum smart contact. Thanks to the refusal to use blockchain at the transaction stage, the speed of their transmission is comparable to the speed of messages via conventional communication channels. The Raiden network processes, according to its founder, more than 1 million money transfers per second.  

Raiden offers an off-chain solution that does not imply agreement on each transaction of all network participants, so payment channels can only be opened by participants in a specific transaction. Raiden Network has two types of fees: protocol layer fees and peripheral fees. Peripheral payments are paid in RDN tokens.

Token

RDN cryptocurrency was developed for the Ethereum platform. In fact, it is the internal bargaining chip of the Raiden Network system. It is a decentralized token compatible with ERC20 standards. 

  As part of the ICO, from October 18 to November 1, 2017, the RDN price was 0.0021906 ETH (0.67 USD). A total of 100 million RDN coins were issued and distributed. 

The distribution scheme is as follows:

 • 50 percent put up for open auction;

 • 34 percent left for the Raiden Network project;

 • 16 percent goes to the reserve of the Project External Development Fund.

To use the RDN token, you need an ERC20 compatible wallet.

 The first addition to the exchanges took place on November 8 2017 You can buy cryptocurrency on exchanges Binance, Bitfinex, KuCoin, EXMO via BTC, USDT and ETH. At the time of publication, the RDN rate is 1.89 USD, Capitalization is 94,535,782 USD.. Daily trading volume $8,985,331

Summary

The prospects and rationality of investing in the Raiden Network are associated with the implementation of the project. Addressing Ether's microtransaction issues could provide ample potential for long-term growth for RDN. And also using it for the global payments industry, which is constantly expanding and amounts to about $2 trillion a year, gives good hope for an increase in the price of this token. But it should be kept in mind that the rate and significance of RDN directly depends on the success of Ethereum in the crypto market.