Scanning the current crypto levels, we can see that Raiden Network Token (RDN) has recently moved to $0.877394. The circulating supply levels are presently 50168936 with a market capitalization of 44017923. Recent volume has been seen at 1432760. Since the previous day’s settlement price, the currency has seen a change of 9.29%.
About Raiden Network Token (RDN):
The Raiden Network (Symbol: RDN) is an off-chain scaling solution for performing ERC20-compliant token transfers on the Ethereum blockchain. It is Ethereum’s version of Bitcoin’s Lightning Network enabling near-instant, low-fee, scalable, and privacy-preserving payments. The Raiden Network allows secure transfers of tokens between participants without the need for global consensus. This is achieved by using digitally signed, and hash-locked transfers called balance proofs which are fully collateralized by previously setup on-chain deposits. This concept is known as payment channel technology. Payment channels allow for practically unlimited, bi-directional transfers between two participants as long as the net sum of their transfers does not exceed the deposited tokens. These transfers can be performed instantaneously and without any involvement of the actual blockchain itself, except for an initial one-time on-chain creation and an eventual closing of the channel. A Raiden balance proof is a binding agreement enforced by the Ethereum blockchain. Digital signatures make sure that neither party can back out of any of the value transfers contained therein, as long as at least one of the participants decides to present it to the blockchain. Since nobody else other than the two participants has access to the tokens deposited in the payment channel’s smart contract, a Raiden balance proof is as binding as an on-chain transaction. The true strength of Raiden lies in its network protocol.
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