Raiden Network (RDN)

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Truth and facts[edit]

  • Raiden Network is an off-chain scaling solution, enabling near-instant, low-fee and scalable payments.
  • Raiden Network complementary to the Ethereum blockchain and works with any ERC20 compatible token.
  • The Raiden project goal is to research state channel technology, define protocols and develop reference implementations..


  • Slogan: Fast, cheap scalable token transfer for Ethereum.


  • The official ticker symbol for Raiden Network Token: RDN
  • Crowdsale ICO from October 18, 2017 to November 1, 2017.
  • Token type: ERC20
  • Total token supply: 100,000,000 RDN
  • Circulating Supply: 50,148,936 RDN

Video Playlist[edit]

Raiden Network in a Nutshell

00:00 Payments, are one of the obvious killer applications of Blockchains.
00:01 But unfortunately, blockchains’ current transaction capacity is very limited and therefore unable to support significant adoption.
00:09 Full blocks, high fees and long confirmation times, are the known effects of this limitation.
00:12 The problem, is scalability.
00:17 Currently, the Ethereum network is only able to confirm roughly 10 transactions per second.
00:19 Before blockchains will see widespread adoption for everyday payments, they will need to be able to process roughly 100,000 transactions per second.
00:29 Adoption also requires that the cost of transfers is neglectable.
00:34 And their confirmation time, is within a subsecond, rather than in the range of minutes.
00:39 The Raiden Network aims to solve these problems.
00:43 It uses a mix of meshed payment channels, deposits and cryptographic tricks to allow for secure token transfers - off-chain.
00:50 Instead of using the blockchain as a global notary for all transfer, the blockchain is only used as a system, to eventually settle netted claims which resulted from off-chain transfer activity.
01:02 This approach allows the Raiden Network to scale with the number of users and their transfers.
01:04 The more users participate, the more transfers can happen concurrently.
01:09 Further transfers are extremely cheap, fast and private.
01:13 The Raiden Network will complement Ethereum such that it can become a global scale payment infrastructure - for everyday purchases by all of us - as well as for the upcoming machine-to-machine economy.
01:27 The original idea of blockchains is to provide a “purely peer-to-peer version of electronic cash”.
01:33 Our mission is to provide the technology which allows this vision to scale towards widespread adoption.
01:39 If you want to learn more about the raiden network, watch our next video or check out our website.

ICO Review: Raiden Network (RDN) - Scalable Transfers for Ethereum

00:00 Hi there, this is Victoria from crush crypto dot com.
00:02 In this videom I'll be covering a highly anticipated project known as Raiden Network.
00:06 It's a working progress off chain scaling solution that will allow your instant, low fee and scalable payments complimentary to the Ethereum blockchain.
00:15 A quick disclaimer before I start, we are not paid or mandated to do any of our reviews, this is just our personal opinion and analysis and not investment advice.
00:23 Raiden is a payment network built on top of the Ethereum network that provides a scaling solution for Ethereum.
00:32 The goal is to make off chain payments possible without the need of trust among the involved parties.
00:38 It is basically a Ethereum version of bitcoins lightning network, allowing for near-instant, low fee, scalable and privacy-preserving payments.
00:44 Off chain means that the payment does not happen on the Ethereum blockchain.
00:49 This is done by broadcasting transactions on the blockchain only during settlements, and not at each individual transaction between the two parties.
00:57 It works kind of like a bar tab.
01:00 Instead of paying each single time you order a drink, you paid a total amount to the bar when you're done for the night.
01:05 In the case of Raiden Network, each bar tab is called a channel.
01:08 Here's a diagram that shows Raiden's payment channel network.
01:12 Any particular channel is one to one.
01:15 For example, a to b, or b to e.
01:15 But the channels can be linked together to form a network, so users can pay anyone within the network, such as A to D.
01:22 Here are some of the key features of Raiden network.
01:26 It scales with the number of participants with over a million transfers per second possible.
01:31 Transfers can occur within a fraction of a second, is private and confidential.
01:36 It works with any token that follows Ethereum standardized token api.
01:40 Payment channel transfers in contrast to unchanged transactions do not require any fees, therefore the overall transaction fees will be significantly lowered.
01:50 And because of the low fees, this makes micro payments possible.
01:53 The main limitation of raid in network is that it is not suitable for large value transfers.
01:58 This is because Raiden transfers requires some of your tokens to be locked up in a smart contract for the lifetime of the payment channel.
02:05 So you wouldn't want to lock up too much value in a payment channel.
02:08 Therefore, for large value transfers, you'll still want to do it on the blockchain itself.
02:13 The main use cases for Raiden Network are retail payments, peer-to-peer cash, micro payments and instant token swaps.
02:21 For micro Raiden, which is a simpler tested version of Raiden Network, it will be used for Internet of Things markets and paper use services.
02:27 This is a screenshot of a paywall demo for micro Raiden, which uses Wikipedia as an example of where you would be prompted to make a payment to the publisher before you can access their article.
02:37 This is a screenshot of the Developer Preview for Raiden Network.
02:42 You can open channels by going to this tokens view.
02:44 For tokens where you have a positive token balance, such as the radiant testnet token in this example, you can click on join Network, you simply enter the amount of funds you wish to join the network with, and Raiden will start connecting you to the nodes that are already connected to the token network you've selected.
03:00 60% of the funds are allocated to these, and the remaining 40% of the funds are used to create channels with other nodes trying to join this token network.
03:08 This is a screenshot of what the channels page looks like, which shows you the open channels that are currently available.
03:15 You can start during direct transfers by clicking on the transfer button.
03:18 You can also do intermediary transfers on the Raiden Network, like from A to D as I mentioned earlier.
03:24 This is what makes the scaling solution powerful, it means you can transfer tokens to anyone participating in the network but you do not need to be directly connected to them, as long as there is a path with enough capacity.
03:36 Raiden Network is an open source project primarily developed by a company called Greenville Technologies.
03:43 According to their github repository, Raiden has been under development since September 2015, not long after the Ethereum blockchain was live.
03:51 A simpler version of Raiden, called micro Raiden, is currently being deployed in the Ropsten test net.
03:56 Micro Raiden allows users to make micro payments directly to each other, but the payments currently work in just one direction, the final solution will be bi-directional.
04:04 The project has been delayed for a while as the original launch date for their MVP was March 2017.
04:10 Here's a screenshot of their open milestones on github.
04:13 As you can see, the MVP is still in working progress.
04:18 Raiden will be issuing Raiden tokens starting in mid-october in a public crowd sale, and the tokens will be distributed one week after the ico ends.
04:24 According to a close on October 3rd from their Twitter page, they were aiming for a token launch on October 16th, but the final date will be announced at least one week in advance, which means it's now going to happen sometime after October 16th.
04:38 The total token supplies 100 million RDN tokens and public crowdsale contributors will own 50% of the total token supply.
04:46 The hard cap and the market cap is unknown at the moment, as Raiden network will be using a uniform price Dutch auction.
04:53 They decided to use this format to determine a fair price for a fixed amount of RDN tokens and to allow everyone to participate.
04:59 It starts with a very high price, which continuously declines with every block over time, based on a predefined formula.
05:05 After the auction has started, participants can send an ether to bid and it will receive their tokens at the same final price.
05:13 For more information on their ICO and the mechanics behind our dutch auction process, please take a look at some of the recent blog posts.
05:19 Raiden Network has two kinds of fees, protocol level fees and peripheral fees.
05:23 Protocol level fees are used to keep the payment channel network balance and to prevent channels from being depleted over time.
05:32 Peripheral fees are used to pay for certain services such as finding a path with sufficient capacity or channel monitoring.
05:38 The Raiden team expects that over 95% of all nodes on the network will be light-clients, where they will be happy to pay low fees for the convenience of not having to run a full stack of services.
05:48 It is expected that most stacks will use light-client, so Raiden transactions in those stacks will incur a fee that is payable in RDN tokens.
05:56 Most users will need to pay RDN and tokens to participate in the Raiden Network.
06:00 Therefore the more usage the network has, the more valuable the tokens should be.
06:04 Raiden network is developed by brainbot technologies, a blockchain development studio based in Germany.
06:09 According to LinkedIn, the company has at least 21 employees.
06:13 Brainbot focuses on creating the core building blocks and a neighbor brought adoption of public blockchains, with the focus on Etherium.
06:19 The founder and CEO of Brainbot has been with the company for over 17 years and has been a core developer of Ethereum since March 2014.
06:28 In addition to Raiden, Brainbot has other Ethereum focused projects including raidEX, trustlines Network and Hydrachain.
06:35 According to their github repository, there are around eight frequent contributors to the Raiden project.
06:41 So what are some of the opportunities?
06:44 Raiden Network is a highly anticipated project and the network will likely have stronger men and high usage right off the bat, very few ICO can claim to do the same.
06:54 This project helps driving Ethereum and forward by solving the scalability issue in addition to improving privacy and efficiency.
07:00 The use cases of Ethereum can be greatly expanded with the introduction of Raiden Network.
07:04 And a network effect is also present for this project.
07:08 The more people use this network, the more channels there will be, and the more efficient the network will become.
07:12 If the Raiden network is successful and is able to scale up, the vast majority of Ethereum transactions could potentially be shifted off chain, making this network very valuable.
07:22 And here are some of our concerns.
07:26 The project has been delayed by over half a year already.
07:28 As I mentioned earlier, the original launch date for their MVP was March 2017, but to date, it is only around 78 percent complete.
07:35 We're not sure when it will actually be finished and rolled out and there is no detailed development roadmap currently available.
07:42 Raiden network is more useful in some cases and others.
07:45 For example, it is not intended to support large value transfers, as I talked about a lot or earlier.
07:51 And if other similar scaling solutions are developed, users may prefer other solutions that don't intend to charge a fee.
07:57 Here's a useful table created by Fredersen, co-founder of coinbase, that summarizes the other scaling solutions for Ethereum, including both on chain and off chain upgrades.
08:08 According to his blog post, it's very hard to make accurate estimates, but based on these work-in-progress upgrades, we may see a 100 times improvement by the end of 2018, which would allow a 1 to 10 million user app.
08:19 Overall were neutral in the flipping potential and believe the long term attractiveness of this ICO depends heavily on the valuation of the project.
08:29 Raiden Network has received a lot of criticism because of their decision to go down the ICO routes.
08:33 Most people were expecting to be able to use Raiden for free.
08:37 Although if Raiden really does help fix the Ethereum scaling issue, we believe most people would gladly pay the fee and enjoy their standing solution.
08:45 In conclusion, we have our neutral view on flipping.
08:47 The Dutch auction format will prevent any unmet demand design, which makes this project not a suitable flipping candidates.
08:54 For long-term holding, we are not surprised to see RDN tokens becoming one of the most valuable tokens, as we expect heavy usage of the network if it becomes successful.
09:03 Currently the number-10 token has a market cap of 181 million dollars, based on the tokens that are in circulation.
09:10 We believe RDN tokens can offer ICO participants,enough long term upside potential when the total funds raised ends up to be less than 75 million dollars.
09:19 This gives the project a fully diluted market cap of a hundred and fifty million dollars.
09:24 Based on Rita's blog posts about their token sale, it looks like the seventy-five million dollar or around 250 thousand ether, park evaluation should occur around October 18th.
09:34 Thank you very much for watching our video on Raiden network.
09:37 Please check out our website at crush crypto dot com for a full report in any new updates.
09:43 For the most up-to-date information on their ICO, please visit ratings official website and blog, particularly as the exact date for their ICO is still to be determined.
09:50 See you next time and let's keep crushing crypto together.

What is Raiden Network[edit]



  • List of exchanges, trading platform and marketplaces to trade, buy and sell Raiden Network (RDN).


Team members[edit]



Frequently asked questions[edit]