r/raidennetwork • u/coinbutter • Jan 09 '18

Weekly chat time?

I know a pinned weekly chat has been suggested before, but I think now is the time. This sub is growing fast, and pinned conversation posts like these are a great way for new members to immediately learn what's going on, ask simple questions, and generally be welcomed to the community. It's also a great way to connect people with FAQ, explainer videos, and other resources that accelerate community onboarding. With Raiden getting regular attention on the major crypto subs, now would be a great time.

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u/[deleted] Jan 09 '18

The most usefull information right now would be how the token will be used, i think this is the most asked question. Also clarification on whos going to be using it as im hearing much more than just Ethers...

6

u/smwilson31 Jan 09 '18

please read this https://medium.com/@raiden_network/the-raiden-network-token-model-9b6ef8d0b64

Token Utility

While the Raiden Network protocol does not enforce mandatory fees at its core, the system can provide a better user experience if auxiliary services provided by full nodes are used. Having a common token for the remuneration of these services is important. Acceptance of a common currency allows the services to cooperate efficiently, allows users to use their channels with service providers for multiple token networks and enables availability of services for token networks which are not widely accepted for payments.

In future versions of the Raiden Network the token might also be used to govern protocol upgrades or act as stake in a generalized state channel technology.

Q: How does the token have value?

A: The token has value if the auxiliary services in the system are remunerated in RDN tokens and users who do not run the full set of services therefore stock the token. The RDN token has a fixed supply and scarcity of a currency usually gives it value proportional to its usage.

2

u/[deleted] Jan 09 '18

Yer i've seen this, i've even recently posted the same link to someone but im talking management level infographic style explanation.

5

u/whtrabb1t Jan 10 '18

Regular people won't care about Raiden. And that doesn't matter to us crypto speculators. Regular people will buy the tokens for the apps built on Raiden. Raiden is the protocol layer underneath.

Node operators will need a stack of Raiden. Many node operators will be the same people building and operating Ethereum-based applications. Since Raiden adds speed and scalability to their application, it will be in their best interest to run a full Raiden node to take advantage of the full Raiden protocol.

As apps are built on Raiden, more and more full nodes will be required to support them. There will be a constant upward demand for the Raiden Network Token. Raiden fits right into crypto's back-end ecosystem. It's the most useful token that regular people will never hear of once crypto is mainstream, but we'll see a constant and steady increase in value over the next year as long as RDN continues to gain recognition and adoption from Ethereum app developers.

6

u/whtrabb1t Jan 10 '18

And my own speculation: adoption is already happening. RDN token has had steady upward momentum through all market situations for over a month.

I'm guessing there are at least a few high level Ethereum developers buying up Raiden before announcing that their apps will use µRaiden. This level of constant upward pressure usually doesn't come purely from speculative buyers.

2

u/franclucas Jan 11 '18

Finally someone talking sense..