Review on Raiden Network Token by Danh Huỳnh Ngọc Công
Raiden Network - Ethereum's wings?
Raiden Network project is developed to address the problems existing in Ethereum blockchain. Firstly, the project solves the problem of scalability by balancing the activities and the sizes of the network. Secondly, Ethereum's latency is dealt with making the amount of interruption time almost equal to zero. Thirdly, the presence of Raiden Network saves a lot of expenses of transaction fees for users which is very suitable to micropayments. Finally, the network enhances the privacy of the transactions, which only shows the information that does not expose any sensitive data to the public. There are more wonderful advantages of this project while the drawbacks still exist.
Pros
- Raiden Network improves the manners of transaction on Ethereum by increasing the number of transactions per second to 100,000 and reduce the interruption time to nearly zero
- The project scales itself according to the number of users. The more the number of users increases, the bigger its size becomes
- Transactions associated with Raiden Network cost no miner fees but there will be very little peripheral fees
- Token economy is great as RDN token is allocated well and it is used as the currency to pay for peripheral fees
- A great team is behind the project which is the most important to its development
- Currently, RDN token is traded on various major exchanges with very good volume
- RDN can be used for a lot of financial and technological use cases
Cons
- It has suffered a lot from the volatile market so the price is far from the all time high
- There is no existing whitepaper which is claimed to be written after sometimes of development
- Ethereum has been self-involved by the time so the demand of side networks is a question
