Raiden Network Review–Chico Crypto Style
Today, I’m diving back into a undervalued crypto project on a platform that is seeing growing pains and needs a scaling solution ASAP…that project I am talking about is The Raiden Network…….finish him! For those of you who are new to Raiden, they are building an off-chain scaling solution for near instant, low-fee and scalable payments. Here is a short video explaining the fundamentals of Raiden. Now I wan’t to dive into Raiden News and updates because I believe once Ethereum meets scaling problems, which they will…this project is going to go banannas! Whay did I do a Raiden Netowrk review? Read more below to find out!
Now Raiden has collaboration with some projects that I have evangelized on my channel before. Here is an image of the NEOJoy event in which loopring presented. Ethereum is going to be the first blockchain in which their will be a decentralized wallet and ring-miner. As you can see, the next update is the release of the relay api standard, and after that support of the Raiden Network……loopring’s technology will not work 100% efficiently in the current state of Ethereum. That is why the need a scaling solution, and Loopring has the foresight to understand that Plasma will not be implemented anytime soon. Now if you are not too up to date on Loopring I would start doing some Research…my boy Blockchain Brad just interviewed the CEO Daniel Wang….I would recommend checking it out if you want to learn more!
Wala by Dala
Wala by Dala
Another crypto who is partnering with the Raiden Network is Wala…I’ve only talked about Wala for a short time in another raiden video. Wala is a Fintech company that has set out to solve the global unbanked problem by engaging users with a digital financial platform that provides all of the financial and transactional services a consumer needs. This is what the Wala Team has to say about the Raiden Network “The Raiden Network provides the best short-to-medium-term solution to enable fast, near-free microtransactions supported by the blockchain. IN light of this, Wala will aim to provide the number of nodes that will provide Wala payment channels on the Raiden Network. These Nodes will have high liquidity and act as a humb to connect to other Wala payment channels. The Wala corporation will provide this liquidity and subsidize the cost of doing business to the hub nodes.
Power Ledger is evaluating uRaiden according to it’s telegram Admin, and I believe they will adopt to protocol. The reason is because of the German Energy Parnership Share & Change. The Raiden team has been in close collaboration with one of the largest energy companies in Germany called Share and Charge. The Raiden team has constructed the proof of concept for them and received massively good feedback. Share & Charge currentely has a functioning product on the public Ethereum chain, developed by slockit, they use the chain to enable their decentralized platform for electric vehicle charging station.
Indahash and Augur
Indahash has said they plan to solve the scalability problem with the Raiden Network, Golem has considered the integration and implementation depending on code and complexity, Gnosis has recentely purchased a ton of Raiden, Augur is evaluating uRaiden-“they have recentely said the main piece remaining in the puzzle to enable more transactions per second, which means using sharding and Raiden.
The list of Raiden User’s goes on and on…Tobalaba Energy Network Foundation, Smart Mesh, Enjin, Grid+ , OpenANX, Soma, Trade.io, Trustlines, MoxyOne, Ryder, Request Network, Kin, ULedger, WePower, and the list goes on.
You see people, this is what everyone is waiting for. The only way these projects can take the next step is to have a scaling solution. A lot of these projects are valued higher than Raiden right now….and they explain that they will rely on Raiden…..Price……Undervalued
So let’s take a look at the price of Raiden, and see why it is so undervalued….currently the price of one Raiden is $4.65, a 10 percent increase from yesterday. Here is a prime example…Augur which is relying on a scaling solution like Raiden is valued at almost a 600 million dollar market cap…..now lets look at Raiden’s market cap…….237 million…..Augur is almost 3 times Raiden….now that is insane!
Here is some good news, Poloniex had their company account buy Raiden, which means it has a high chance of being listed. The team is currently working through the security requirements for other exchanges like bittrex, Kraken, and Coinegg. Now a lot of people are worried about Plasma and what effect that will have on the Raiden Network in the future…one thing Plasma is very very far off…and the implementation of it will probably cause a fork. Also Plasma focuses on smart contracts and Raiden focuses on payment channels. They will work hand in hand
Check out this video of Vitalik Buterin explaining why Raiden will be good for Ethereum…..
Well viewers I am glad I could give you a quick update on Raiden Network. I invested in my first Ether when it was only a couple of dollars and now it is 800…if this growth is going to be sustained a payment scaling solution is needed ASAP….and the Raiden Network looks to be the team who can do it. That is why I chose to do a Raiden Network review. Cheers!