Review on Raiden Network Token by erdi yılmaz
Raiden Network Token
Raiden Network is an off-chain transfer network for Ethereum ERC20 tokens. It provides a fast, scalable and inexpensive alternative to on-chain token transfers.
Raiden Network transfers provide users with guarantees of accuracy, security, and decentralization similar to known properties in blockchains.
Raiden Network provides a payment system based on payment channel technology that scales according to the number of users. This means that the larger the Raiden Network, the higher its maximum throughput with virtually no upper limits in sight.
The RDN token of the Raiden network's native cryptocurrency is not at the core of the protocol and is only used by participants who choose to pay so they don't have to run a full node.
Pros
- Raiden Network transfers are as fast as text messages. As soon as you receive a signed Raiden transfer, you can be sure that you now have the amount included in the transfer. There is no need to wait for any confirmation.
- Raiden Network transfer fees are much lower than on-chain transaction fees. Because instead of paying for global consensus, you only pay to convey peer-to-peer consensus.
- While Ethereum transactions are public, Raiden will be private between the paying, payee, and forwarding nodes of the transfer. When channels are closed, only the sum of transactions becomes visible to the whole world.
Cons
- Loss of almost 2000% in value between 2018 and 2020
