Raiden Review 2019: RDN Still Worth It???
📝 Project Overview 📝
The Raiden Network is a layer 2 scaling solution that could help take the strain off of the Ethereum mainchain.
⚙️ Technology ⚙️
Raiden provides a network of ‘off-chain’ payment channels that enable participants to send tokens to each other without needing global consensus or involving the blockchain for every transfer.
In order to make sure that there is security in this channel, both of us are required to make a “down payment” as collateral.
Once this payment channel is set up, participants can send tokens between themselves as many times as they want (“bi-directional”).
Once done, all of these off-chain transactions will be bundled up and sent to the Etheruem mainchain as a single transaction.
💰️ Token 💰
Raiden Network Tokens (RDN) are ERC20 utility tokens in the Raiden ecosystem.
The tokens are generated whenever a channel is opened and they are used between the participants in order to make the payments.
These payments are then made through Micro Raiden for frequent, fast and free micropayments.
The Raiden network did not conduct an ICO. Tokens were sold through an auction process.
There is a fixed total 100 million RDN tokens that were generated. Of these, 50% were sold during the auction.
👨💻️ Team, Partners & Development 👨💻
The company developing the technology is called Brain Bot Technologies.
Brainbot was founded in 2000 by an Ethereum core developer and it has grown considerably since then.
They currently have offices in Berlin, Mainz and Copenhagen.
Development on the project has been quite extensive and there have been numerous GitHub Commits.
📈 Trading & Wallets 📈
RDN is listed on the likes of Binance, Huobi, Gate.io etc.
Volumes appear to be well spread out across these exchanges, however they are really quite thin on each of the order books.
This means that the liquidity of the token on the exchange books is likely to be limited.
Storage can take place in any wallet that supports ERC20 tokens.
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⛓️ 🔗 Helpful Links 🔗 ⛓️
► Website: https://raiden.network/
► Docs: https://raiden-network.readthedocs.io...
► GitHub: https://github.com/raiden-network
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📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.
