Presentation and definition of the crypto-currency Raiden Network Token (RNT)

Presentation and definition of the crypto-currency Raiden Network Token (RNT)

  • Name of the crypto-currency : Raiden Network Token
  • Abbreviation : RNT
  • Where to buy Raiden Network Token ? Binance
  • Creation Date : October 2017
  • No white paper
  • Website Raiden Network Token

The Raiden Network

The network Raiden allows the creation of channels of payment off-chain for Ethereum. This makes possible the realization of transactions outside of the blockchain, that will be all the same secure. The goal is to help the network Ethereum to face a number of transactions increasingly important. As well, Raiden Network created “state-channels”. They are areas that generate transactions off-blockchain almost instant and at a reduced cost.

The objective of Raiden

The network Raiden aims to improve the performance of the system Ethereum. So it does not present itself as a competitor but as a complement. It is similar to the network Lightning, which offers the same type of functionality but for Bitcoin.

The scalability

For the developers of Raiden, the main problem of the blockchain is its lack of scalability. In fact, most of the blockchains don’t have the ability to adapt to a rise in the load rapid and significant demand. This results in transaction costs to be high and a validation period much longer. The network Raiden has therefore been developed to provide a solution to this problem by using transactions off-chain. It is important to know that the blockchain of Ethereum allows only a dozen transactions per second when a network such as Visa is 45 000. So, we understand the difficulty of extending the use of Ethereum to a wide audience.

The features of Raiden Network

The system Raiden promises of transaction commits in less than a second. It also ensures private transfers, which will not be searchable. Raiden works with all the chips ERC20, that is to say, based on Ethereum.