What are Raiden Network’s off-chain solutions? How has RDN token fared?

April 26, 2022 06:14 PM AEST | By Ankit Sethi
Follow us on Google News:


  • A few projects in cryptoverse are working in off-chain transfers, claiming to be quick and cheap
  • The Raiden Network says its Ethereum-based layer can be used for DApps and micropayments
  • RDN token is substantially down as compared with the price of US$1 almost one year back

Not many may know that blockchain tech, based on the peer-to-peer distributed architecture, may not underlie every cryptoasset. Bitcoin uses blockchain, and so does Ethereum, but not all. Hedera (HBAR) crypto works on its own Hashgraph network, which does away with the need for blockchain.

That said, some projects are even trying to bridge the void between on-chain data and off-chain data. It is claimed by such projects that blockchain’s scalability is an issue.

The consensus mechanism results in delays, which calls for off-chain transfers that are quicker and involve a low fee. The Raiden Network is also one of such projects enabling off-chain transfers. Let’s know more.

What is The Raiden Network?

The platform exists as a layer on the popular Ethereum network. The Raiden Network claims it supports all ERC-20 (Ethereum-based) cryptoassets.

For now, the official website of the project mentions two offerings -- a wizard, and a light client. Raiden Wizard, according to the project, is a browser-based application, whereas the light client is an SDK. It is highlighted that the network can be used in payments that involve ERC-20 tokens.

The project stresses micropayments, where it claims off-chain transactions are better and easier as compared to consensus-based blockchain transfers.

The Raiden Network can also support the building of DEXs that can enable token swapping.

Also read: Which are top NFT games’ tokens by market cap?

What is the Raiden Network Token (RDN)?

As of writing, RDN, the native token of The Raiden Network, had a market cap of over US$10 million. This placed it among the top 1,000 assets on the CoinMarketCap list.

Also read: What are Zoro Inu token and its ‘deflationary’ feature?

RDN token's price was almost US$0.16, which had surged nearly 40 per cent in the past 24 hours. RDN crypto's trading volume had also appreciated during the said period.

On a year-to-date (YTD) basis, however, RDN was down, which mirrored the change in values of BTC and ETH in 2022.

Notably, RDN token was priced over US$1 nearly a year back.

Raiden Network crypto price in 2022

Data provided by CoinMarketCap.com

Bottom line

While there is a wide choice of blockchain networks, including Ethereum, Solana, and Fantom, projects are also working on off-chain scalability.

The Raiden Network has the same model, and it is claiming use in micropayments and P2P transfers. RDN token of the network has lost value this year, with its price substantially down as compared with a year back. But this is also the trend with many large-cap cryptos.

RDN crypto price prediction, considering the volatility of the token and also of the wider market, can be very speculative.

Also read: What is Elon Goat token and how is it linked to Elon Musk?

Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website.


The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Incorporated (Kalkine Media), Business Number: 720744275BC0001 and is available for personal and non-commercial use only. The advice given by Kalkine Media through its Content is general information only and it does not take into account the user’s personal investment objectives, financial situation and specific needs. Users should make their own enquiries about any investment and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media is not registered as an investment adviser in Canada under either the provincial or territorial Securities Acts. Some of the Content on this website may be sponsored/non-sponsored, as applicable, however, on the date of publication of any such Content, none of the employees and/or associates of Kalkine Media hold positions in any of the stocks covered by Kalkine Media through its Content. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used in the Content are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used in the Content unless stated otherwise. The images/music that may be used in the Content are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Top TSX Listed Companies

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK