| Fully Diluted Valuation | $361,424 |
|---|---|
| 24H Trading Volume | $3,624 |
| 24H Low / High | $0.00 / $ 0.00 |
| Circulating Supply | 51.14M |
| Total Supply | 100.00M |
| Max Supply | ∞ |
| Categories | DEAD 1 more |
|---|---|
| Founder | Brainbot Labs Est |
| Website | raiden.network |
| Socials | 2 more |
| Chains | Ethereum Ecosystem |
| Explorer | Etherscan 1 more |
| Contracts |
0x255....bc8e6
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| Name | Pair | OG Score |
|---|
The Raiden Network Token (RDN) plays a pivotal role within the Raiden project, an innovative initiative designed to scale transactions on the Ethereum blockchain using state channel technology. Launched on October 18, 2017, RDN operates as a cryptocurrency specifically tailored for the Raiden Network ecosystem.
State Channel Technology and Off-Chain Scaling
At its core, the Raiden project utilizes state channel technology to facilitate off-chain transactions for ERC-20 tokens. This approach allows users to conduct transactions outside the Ethereum blockchain, thereby addressing scalability issues such as high fees and slow transaction times. By moving transactions off-chain, Raiden aims to achieve faster and more cost-effective token transfers while maintaining security, privacy, and decentralization akin to traditional blockchains.
Functionality and Utility of RDN Token
RDN serves multiple crucial functions within the Raiden Network. Firstly, it acts as a medium for paying network fees associated with using Raiden's payment channels. These payment channels enable off-chain token transfers, ensuring efficient and economical transactions for users. Secondly, RDN token holders are integral to the governance of the Raiden Network, participating in decisions that affect its development and operations.
Maintaining Network Operations and Service Framework
The introduction of RDN token supports the sustainable operation of the Raiden Network.
The Raiden Network utilizes state channel technology to enable off-chain scaling of Ethereum transactions, offering faster and more economical token transfers while maintaining security and decentralization.
The Raiden project was initiated by Brainbot Labs Est., with Heiko Hees and Lefteris Karapetsas among its key developers.
You can buy Raiden Network (RDN) on Gate.io cryptocurrency exchanges.
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