Raiden, for those out of the loop, is a project that was first unveiled in 2015 as a scaling solution for the world’s second largest blockchain.
Raiden is expected to increase Ethereum’s network capacity to 1 million transactions per second – which could make it the first blockchain to compete with VISA, PayPal, and other traditional payment platforms.
The Raiden ICO Will Be A Dutch Auction To Downplay Hype
The Raiden Network ICO will be a Dutch auction, which means the price of the tokens will decrease throughout the length of the sale.
This means investors who know about the sale have an incentive to keep quiet –if fewer people know about it, it means they can buy tokens at a cheaper price in the future,.
Ethereum co-founder Vitalik Buterin has spoken out against Raiden’s ICO. He has promised to donate his advisor shares in other ICOs (including 100% of his OmiseGO tokens) to charity, or to fund open-source, non-profit projects across the Ethereum platform.
Buterin released his statement almost immediately after Raiden’s developers announced plans to run an ICO campaign. The Canadian-Russian wunderkind took issue with the fact that Ethereum projects must have no baked-in profit scheme, including an ICO token (otherwise, they’re not eligible for funding as Ethereum infrastructure projects).
Ultimately, the Raiden ICO sounds like a big deal – but the developers are purposely downplaying the sale. They’re simply seeking to raise funds to complete development of the Raiden Network, the long-awaited Ethereum upgrade that’s expected to vastly improve the transactional capacity of the network. The Raiden Network tokens (RDN) are expected to be used to pay for fees on the network.
Raiden is one of the most exciting altcoins I have researched in a long time. The ICO ended a few days ago and since then it has a little more than doubled in price. My excitement does not come from the price though but from the team and technology behind the coin.
Financials and Chart Analysis:
At this time it is hard to do a real chart analysis as it has just recently hit exchanges. Right now the market cap is only $79,519,500. RDN reached $1.90 and then corrected to $1.32. A healthy 30% retracement and now has begun its second mini bull run. RDN has a decent amount of daily volume for the exchanges it is currently on. Liquidity and market cap will increase as RDN gets listed on the other major exchanges. I can say though that this altcoin was built by Ethereum core developers, already has working code and has not even been listed on the major exchanges. In my opinion, this will be a billion dollar coin. Raiden (RDN) is currently trading on Binance, EtherDelta, Gate.io and Kucoin. I believe this will soon be listed on major exchanges such as Bittrex and Poloniex which will greatly increase its market cap. My prediction is that RDN will continue to rise until it hits 5x the current value within the next few months.
Buy the rumor, sell the news has played out perfectly for Raiden.
ICO Analysis: Raiden Network
the Ethereum Raiden Network. This is Ethereum’s version of bitcoins Lightning Network. The technical definition of Raiden is allowing off-chain scaling solutions for performing so called ERC20-compliant token transfers
Raiden supposedly enables near-instant, low fee, scalable transactions. The operative words here are off-chain scaling and privacy preserving.
This is an option to watch closely in 2018 to see if Raiden can live up to some big promises.
One thing is certain, transaction speed and costs are likely to be hot topics in the New Year.
Remember, one of the original selling points of bitcoin was that transactions were fast and free. At present neither of these two promises are being consistently met.