What is Raiden Network Token (RDN)

What is Raiden Network (RDN)?

The Raiden Network is an off-chain scaling solution, enabling near-instant, low-fee and scalable payments. It’s complementary to the Ethereum blockchain and works with any ERC20 compatible token. The Raiden project is work in progress. Its goal is to research state channel technology, define protocols and develop reference implementations.

Scalable
Scales linearly with the number of participants


Fast
Transfers can be confirmed within a subsecond

Private
Individual transfers don’t show up in the global shared ledger

Interoperable
Works with any token that follows Ethereum’s standardized token API (ERC20)

Low Fees
Transfer fees can be orders of magnitude lower than on the blockchain

Micropayments
Low transaction fees allow to efficiently transfer tiny values

Use Cases
The obvious use case for the Raiden Network is payments. Currently, the global payments industry generates roughly $2 trillion in revenue annually - and it’s growing.

Note: The project introduction comes from the materials published or provided by the official project team, which is for reference only and does not constitute investment advice. Some of the content may be out of date, error, or omission. HTX does not take responsibility for any resulting direct or indirect losses.

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