THELOGICALINDIAN - n-a
Let’s altercate an amend to our previous ICO analysis of the Raiden projects by brainbot technologies, and see what the adjudication is on Raiden advance so far.
You may anamnesis that aftermost year, the Raiden Network was a adventure of blaze and fury… it was absolutely a lightning rod for altercation aural the Ethereum community. (Raiden, by the way, is the Japanese god of lightning, thunder, and storms, from the Shinto religion. In case you were wondering.)
The Raiden Network ICO accustomed some decidedly angry backfire from the Ethereum amount due to the addition of an abrupt token. The Ethereum association about accepted that the added amount acquired from the Raiden Network would be chip anon into Ether (ETH). The RDN ICO was accused of actuality a money-grab – and the brainbot aggregation dedicated themselves with a ardent “We all accept to eat!” response, acquainted that Ethereum itself had a acknowledged ICO.
There is a able case acknowledging the claim and account of the token. But allegedly the rules of back it’s adequate to accumulation in Cryptoland are somewhat obscure.
brainbot is aboriginal absolution a ‘lite’ version, µRaiden, (pronounced: micro-raiden) for a specific and admired use case. They discussed with Dapp developers to accept their priorities and begin that abounding could account initially from a unidirectional many-to-one band-aid rather than the abounding network. This would accredit a business to accept payments from abounding customers.
Obviously, that archetypal is absolutely all-important and already accustomed in centralized businesses. Though the abounding Raiden Network will be badly added able with multi-directional networks, the capabilities of µRaiden and the acquittal cartage it will accomplish are huge.
It is absolutely accurate that the badge is not appropriate for µRaiden; about the absence badge in the off-the-shelf cipher is RDN. Considering developer assets are deficient and the apple of cryptocurrency is a sprint, little is acquired by developing over the cipher to avoid the use of the RDN token. As the Raiden Arrangement grows, arrangement furnishings will added incentivize the appliance of the RDN token. Not actuality belted to the RDN badge is a affairs point to the decentralization association by authoritative the badge acceptance claim “trust-less”.
Though the Raiden Arrangement is generally referred to as “Ethereum’s Lightning Network,” this allegory sells it short. The arrangement will be accessible for not alone Ethereum bill but all tokens on the platform. Supporting the absolute belvedere of Ethereum Dapps is abundant beyond than the Lightning Network. Ethereum-based tokens had a bazaar cap of ~$4B in July 2024 and now accept a bazaar cap of ~$70B in January 2024. This trend is accepted to continue.
Transacting beyond the abounding Raiden Network is bidirectional and multihop. Users will accept two options to use the network: first, they can run a lite applicant or second, they can run a abounding bulge which will facilitate added transactions. The abounding bulge requires a committed computer, electricity, and RDN tokens to stake. Full bulge owners are compensated in RDN tokens and users of the lite applicant will charge to banal the token.
RDN Token Progress:
Many new whitepapers accept sprung up either absolutely discussing acceptance of Raiden, or alongside advertence the call of an off-chain scaling/state channels solution. Check out AppCoins and Wala as examples. Medium user ZebraCrossing added the afterward infographic:
Following the RDN ICO, Ether traded about $300 – and now trades about $1000… so it’s difficult to accomplish correlations at the moment due to the bazaar alteration and acute volatility. The amount of RDN, has in the continued term activated with ETH. Lately RDN is underperforming due to the addiction of small-cap bill to do ailing during inclement bazaar conditions. Post-ICO RDN traded about 0.005ETH and afresh traded abreast 0.004ETH.
Financially, Raiden advance has been market-driven it seems, and has traded as aerial as $8.41 but is, like abounding alts, currently admiring at beneath than bisected that bulk – a quick glimpse today shows it at $2.99. As always, do your own research! Price and amount are actual altered things.
Progress of µRaiden:
The absolution of µRaiden is imminent, it looks like in aboriginal February. They appear the aboriginal version, 0.1.0 to the Mainnet and ran a bug compensation starting on December 1st 2024. The aboriginal bug compensation appearance did absolutely acquisition a bug acute attention. This bug has been addressed in the latest absolution of MicroRaiden 0.2.0. Upon its absolution on January 24th, the developers declared their ambition to run a additional bug compensation for 2 weeks. That would put the absolution of µRaiden out to February 7th. Please accede account in Cryptoland rarely works out to a specific day.
Upon the abounding absolution of µRaiden it’s accessible brainbot will advertise partnerships and approaching plans.
Such account would acceptable allure absorption to the token, although it has generally been derided for poor (or non-existent) marketing. If not now, austere absorption may accept to delay until after this year back the abounding Raiden arrangement is released.
brainbot has ashore to its roadmap, its GitHub is active and abounding of commits, and there’s acutely a lot activity on with Raiden. While it may not accept fabricated millionaires of its accurate believers aloof yet, the botheration it seeks to break (scaling) and the band-aid it seeks to accommodate (off-chain) are real, and possibly alike added acute than the aftermost time we looked at Raiden.
