Review on Raiden Network Token by Pedro O. Alvino M.
fast and low cost transactions
The Raiden network, an alternative Ethereum network system, could be said to be like Bitcoin Lightning, which thanks to it, payments can be processed faster in the network, since that Raiden's proposal to improve the micropayment system in in an alternative network of Ethereum, when supporting the various ERC 20 Token it is more feasible to use it, since lately most of the transactions in the Ethereum network are a bit saturated and naturally other network services can present a greater cost of transaction.
The Raiden network that allows ERC 20 token transfers between two participants without the need for a global consensus, payment channels that work as smart contracts can benefit users, although some may not understand the operation of the platform.
The alternative of the network by presenting bidirectional payment channels that helps connect users directly to each other, and within the platform you can manage payments through smart contracts
Pros
- Fast and better usability transfers
- Allows transfer of ERC 20 tokens without the need for a global consensus
- Low costs and preserves operator safety
- It allows bidirectional transfer between two operators
- The payment channels within the platform works with smart contracts
- In token of the platform has considerable price and is available in multiple renowned exchanges
- The messaging service hides IP addresses to prevent DoS attacks
Cons
- The operation of the platform can be complicated for people with little experience
- There are already competing projects in the market for the same purpose
- It has a transaction limit on the platform
- It may be affected despite the new update 2.0 of the Ethereum network
