Cryptocurrency Raiden Network Token (RDN)
The Raiden Network Token blockchain platform, founded by Brainbot Technologies, has been under development since 2015. The team of project creators includes 11 people, including CEO Heiko His, consultant Oliver Bünting, and others. The network developers set themselves the task of eliminating the scaling problem of Ethereum.
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Official website - raiden.network
Description of the system
The platform has a principle of operation similar to Ethereum, since it is its extension and addition. It is open source and uses smart contracts. Compatible with ERC20 standard cryptocurrencies.
The founders of the project set themselves the goal of creating a fast, low-cost, secure and easy-to-use payment channel for making instant payments that does not require the consent of all participants. For a successful transaction, all you need is confirmation of the sender and recipient.
There is also a simplified version of the project - “micro Raiden”, which is currently being deployed on the Ropsten test network and allows users to make micropayments directly among themselves.
Work on the Raiden Network is performed off-chain, which ensures increased confidentiality of user data. All information on payment channel balances is hidden from network participants until agreements are approved. The payment unit of the system is decentralized RDN tokens, to work with which each user must have a cryptocurrency wallet.
The main advantages of RDN
The Raiden Network Token (RDN) cryptocurrency has a number of advantages:
- scalability;
- instantness of transactions;
- optimization of operations when transferring medium and large amounts of cryptocurrency;
- elimination of overpayments when making micropayments;
- no limits;
- inflation resistance ;
- anonymity of user transactions, etc.
Also, network users can transfer coins without commission fees. And in the future, it is planned that Raiden Network Token users will have the right to vote when updating the Raiden Network protocol.
Where to buy Raiden Network Token cryptocurrency
Today, RDN offers several exchanges to buy cryptocurrency. The most reliable and easy to use are Binance and KuCoin. There is a low commission, high transaction processing speed and favorable rates.
Where to store RDN cryptocurrency
There are several ways to store RDN cryptocurrency. For short-term savings, you can use an account on an exchange (for example, binance.com). However, this option is not highly secure.
The most reliable way to store Raiden Network tokens is a cryptocurrency wallet myetherwallet.com, compatible with ERC20.
Conclusion
The review of the Raiden Network Token cryptocurrency allows us to conclude that the service is very progressive. In the near future, RDN has every chance of getting into the TOP 10 leading virtual currencies.
The prospects for the Raiden Network Token (RDN) cryptocurrency are high. Large investors may be interested in the project. At the beginning of February 2018, the average cost of the RDN token was $3 per coin.
