What is Raiden Network Token (RDN)?
The Raiden Network token (RDN), is the native token of the Raiden Network, which is an off-chain scaling solution that operates on the Ethereum blockchain. Its primary objective is to make it possible for ERC-20 tokens to be transferred at a low cost, in a timely manner, and on a scaleable basis.
The network additionally aims to provide users with security, anonymity, finality, and decentralization comparable to what other blockchains offer. Therefore, the objective is to create a setting where users can transfer tokens even in the absence of a global consensus method, all while removing issues that were previously connected to the Ethereum blockchain. In fact, the Raiden Network is comparable to the Lightning Network of Bitcoin.
Overall, the Raiden Network is suitable for making retail payments, P2P cash payments, micropayments, and instant token swaps.
To see the current RDN price, take a look at the Raiden Network tokens price chart above.
Use Cases of Raiden Network Tokens
For starters, RDN tokens are utilized to ease the process of payment transmission with the Raiden Network. Moreover, Raiden Network coins are used to incentivize network users, including liquidity providers, full node operators, and peripheral service providers. Additionally, RDN tokens might be used to cover network fees.
If you're interested in acquiring Raiden Network tokens, don't forget to make a thorough RDN price analysis beforehand. You can use the Raiden Network token price chart above for doing that.
Who Founded Raiden Network?
Brainbot Labs Est. is the company that developed the Raiden Network. Heiko Hees is the Chief Executive Officer of Brainbot and the person responsible for the conception of Raiden Network. Additionally, he is one of the core developers at Ethereum.
