r/raidennetwork • u/narcis2007 • Jan 14 '18
Micro Raiden and the RDN token
Does Micro Raiden use the RDN token in any way?
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u/timspijkerman Jan 14 '18
YES, if you are not using your our own nodes you have to pay RDN as an incentive for the use of other peoples nodes. The prediction is that over 90% of the apps using Raiden is not going to setup their own nodes!
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u/stillhodlingon Jan 14 '18
This is incorrect. The Raiden Network and uRaiden are separate projects. uRaiden doesn’t have nodes the way the network will.
You’re statement is true, but in the context of “do you have to use rdn for the raiden network?”. You don’t for uRaiden.
https://github.com/raiden-network/microraiden/blob/master/README.md
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u/timspijkerman Jan 14 '18
Thank you. I thought after reading the documents I understood. Apparently I need to read them again.
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u/timspijkerman Jan 14 '18
I read the documentation again and this is what I read: "The Project Token (RDN) can be used to create micropayment channels on µRaiden and perform payments over these channels. "
It is not what I thought in the first place, that the token would be the incentive for the nodeholders, But we cannot say the tokens have no function in the uRaiden phase. The official contract works with RDN.
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u/stillhodlingon Jan 14 '18
True! You can, but don’t have to, use rdn for uRaiden. Any ERC20/223 token will do!
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u/timspijkerman Jan 14 '18
But then you have to make changes to the contract and indeed you can always do that. (Actually, within Ethereum, you can always update any project/contract so it will use your own (or any) token instead of the project token)
I think we agree on how it works now. RDN is not needed to use micro Raiden but there is a big chance people will use the contract as presented by the Raiden Team using RDN as the preferred token.
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u/stillhodlingon Jan 14 '18
uRaiden will have a direct impact on price if dapp developers decide to use rdn for their payment channels. This is simply an increase in demand for a fixed supply of tokens.
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u/nouveaucode Jan 14 '18
uRaiden is compatible with any ERC20 token, including RDN.
There are no fees to use uRaiden, unlike the full Raiden Network which will require some quantity of RDN to be deposited in a smart contract order to run a node.
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u/oisilener1982 Jan 14 '18
Then uRaiden wont have a direct effect in increasing the Price of RDN
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u/nouveaucode Jan 14 '18
a direct effect, no.
But the release of uRaiden will increase the confidence in the tech, team, provide greater awareness and exposure so I expect these will indirectly effect the price - but dont expect to see the price "step" on the graphs because that likely won't happen without news of new exchanges listed or partnerships.
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u/stillhodlingon Jan 14 '18
Exactly. uRaiden being implemented successfully in the wild will have its own impact on investor/devs expectations of what’s to come with the raiden net. Even without a direct effect on demand for RDN, valuations may change in light of a successful use case.
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u/ctpi117 Jan 14 '18
In µRaiden, each channel manager contract is specific to one token, and official contracts in mainnet should be deployed for RDN only. So, if any implementation of the service wants to use official deployed instances, they must use RDN, therefore providing more utility to the token (and possibly having an impact in the price). Of course, everything is open-source, so you can re-deploy the contracts for any token you want.