Raiden Network (RDN) Token Review
Raiden Network (RDN) has a bold mission they are aiming to help solve scalability issues hampering broad stream adoption of blockchain technology. They describe their off-chain scaling solution performed on the Ethereum network to be the equivalent to Bitcoins lightning network enabling users to have private scalable low-fee payments that are near instant.
In today’s review, I will be conducting an investment analysis of the RDN token and the Raiden Network. I will be analyzing the Raiden Network while covering four key areas such as the following:
* Raiden Network- Introduction
* Team Members- Who is behind the team
* Raiden Network- Marketing strategies
* Investment Analysis- Is the RDN token a profitable investment
Raiden Network (RDN) Crypto Review: Introduction
The Raiden Network aims to eliminate blockchain bloat the Raiden Network functions as an off-chain scaling payment solution that performs ERC20-compliant token transfers on the powerful Ethereum blockchain. Raiden Network is Ethereum’s version of Bitcoin’s Lightning Network.
The Raiden Network can boast being among the first LN solutions. They even have a working product Micro Raiden that will be launched by the end of this month. They will enjoy early mover advantage over many competitors, and if you check out their GitHub activity, they have been busy over the last few years developing this project.
The current Market Cap is valued at USD 85,491,000, and I expect it to grow much higher by the end of this month. They have a circulating supply of 50,000,000 RDN tokens and a total amount of 100,000,000 RDN tokens.
The most accessible place to purchase RDN tokens at the moment is on the Binance exchange. After buying the RDN tokens make sure to store them safely in an ERC-20 compatible wallet such as myetherwallet. I have also heard a rumor that RDN will soon be trading on Poloniex and Bittrex exchanges.
Raiden Network (RDN) Token Review: The Team
The company behind The Raiden Network is brainbot Technologies AG, and they have close working relationship with the Ethereum network being a founding member of the Ethereum Alliance.
Heiko Hees is the Founder of brainbot Technologies AG and the Raiden Network. From the little information that I could gather, it appears that Heiko and another developer Jacob Stenum Czepluch are the ones that have been working hard on the Raiden network project. I also noticed that they have two job postings listed on the website which is an excellent sign. Job postings often mean that crypto teams are well funded and plan on expanding.
Raiden Network (RDN) Blockchain: Marketing Strategies
When the team starts to market the Raiden Network, I believe the value of the token will increase further so this could be one of the best times to accumulate the token. During the recent ICO little marketing was done and with all of the Bitcoin politics, people seem to have overlooked this ICO.
The team also has a couple of informative youtube videos that help explain how the network and token will operate.
Raiden Network (RDN) Cryptocurrency: Investment Analysis
With a working product set to release by the end of this month combined with a low market cap, I can only see upside potential. Helping Ethereum with it’s scaling issues will be a huge deal and should lead to an increase in the valuation of this token. I believe that the RDN token would be an excellent short term and long term option to hold for cryptocurrency investors.
(As always please do your research before investing in crypto projects this review is my own opinion and is not meant to be taken as investment advice.)