What Is Raiden Network Token (RDN)?

What Is Raiden Network Token (RDN)? Complete Guide Review About Raiden Network Token.

What Is Raiden Network Token (RDN)?

The Raiden Network Token is an off-chain scaling solution, enabling fast, low-fee and scalable token transfers. It’s complementary to the Ethereum blockchain and works with any ERC20 compatible token. If you’re new to Raiden and just want to install it and try it out, go to the Quick Start. Afterwards you can do token transfers using the Raiden WebUI. For a more advanced usage, read about the different options for installing and firing up a Raiden client.

Raiden Network Token Please note, that even though do your best to ensure the quality and accuracy of the information provided, this publication may contain views and opinions, errors and omissions for which the content creator(s) and any represented organization cannot be held liable. The wording and concepts regarding financial terminology (e.g. “payments”, “checks”, “currency”, “transfer” [of value]) are exclusively used in an exemplary way to describe technological principles and do not necessarily conform to the real world or legal equivalents of these terms and concepts.

Raiden Network Token Storage Key Points

Coin BasicInformation
Coin NameRaiden Network Token
Short NameRDN
Circulating Supply66,793,931.00 RDN
Total Supply100,000,000
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Official Project WebsiteClick Here To Visit Project Website

Installation via Raiden Wizard

If you are new to Raiden Network Token or just want to use it without caring too much for the technical details, they recommend the Raiden Wizard to get started. It will help you to install Raiden and to acquire all necessary tokens for running it on the Ethereum main net. If you want to try out Raiden with test tokens on a testnet before running it on main net, you can use the Görli Wizard for installing Raiden and receiving tokens. Please be patient for the installation process, since there might not be pre-built wheels available for most dependencies.

The Raiden Network Token binary should work on most 64bit GNU/Linux distributions without any specific system dependencies, other than an Ethereum client installed in your system (see below). The Raiden binary takes the same command line arguments as the script. Currently they don’t provide any pre-built executable for the Raspberry Pi. You can still install Raiden from a PyPi package. This process will work on any Raspberry Pi from Model 2B on wards without any other dependencies.

For developers

If you plan to develop on the Raiden Network Token source code, or the binary distributions do not work for your system, you can follow these steps to install a development version. It’s strongly advised to create a virtualenv for Raiden (requires python3.8) and install all python dependencies there. You will also need to connect your Ethereum client to the Ropsten test net. See below for guidelines on how to connect with both Open Ethereum and Geth. Please refer to the detailed step-by-step guide for setting up a macOS development environment.

More about the Raiden services (path finding and monitoring service) will be explained below. On the test nets there are also free services available, and on any network it is possible (though not recommended) to use Raiden Network Token without Raiden services. They will provide you with the necessary cli arguments step by step. Full example is at the end of each section. If problems arise for above method, please see the Ropsten README for further instructions.

Depositing tokens to pay the services

To pay the services, you have to lock some of your Raiden Network Token in the contract. To deposit, you can use the Raiden API, the Raiden Web Interface or manually call the smart contracts. A pathfinding service is a third party service helping your node with efficient transfer routing. It is usually paid in RDN tokens. Direct channels to other nodes can be used without asking the PFS for a route. If you want to stop broadcasting information about your channel states to PFSes, use. As a result, PFSes won’t create routes that include your node as a mediator.

Monitoring service

A monitoring service watches a client’s open channels while it is offline, and represents the client in case of settlement. Like the pathfinding service, it is paid in RDN tokens. If you want to use a monitoring service, use the option and Raiden Network Token will automatically pick one from its service registry. By default the monitoring services are disabled. Enabling monitoring of channels will require a default reward value of 5 RDN for successfully monitoring your channel.

By default Raiden Network Token keeps a “debug” log file so that people who have not configured logging but are facing problems can still provide us with some logs to debug their problems. For expert users of rained who want to configure proper logging recommend disabling the debug log file and configuring normal logging appropriately.