Raiden Network Token (Raiden Network Token, code RDN) is an out-of-chain expansion solution, which is an ERC20-based token running on Ethereum. The Raiden Network is currently live and supports instant transfers, low cost, scalability, and privacy.
The Raiden Network is an infrastructure layer on top of the Ethereum blockchain. Although the basic starting point is simple, the underlying protocol is quite complex and difficult to implement. Still, the technology can be abstracted away, allowing developers to build scalable decentralized applications based on Raiden with a fairly simple API interface.

1. Project technology

The Raiden network is an infrastructure layer based on the Ethereum blockchain. While the basic idea is simple, the underlying protocol is quite complex, and so is the implementation. Still, the technical details can be abstracted away so that developers can use a fairly simple API to build scalable decentralized applications based on Raiden.
The size of the blockchain is not too large, because there needs to be a global consensus on the order and results of all transfers. Every participant needs to know about all updates to the shared ledger. Hardware and bandwidth constraints impose limits on the number of updates per second that can be shared across a decentralized network. The basic idea of ​​the Raiden network is to avoid the bottleneck of blockchain consensus. This is achieved by leveraging a network of payment channels that allow for secure transfers of value chains.

2. Project application

An obvious use case for the Raiden Network is payments. Currently, the global payments industry generates approximately $2 trillion in annual revenue and growing.

1. Retail Payments
There are quite a few advanced Ethereum token based projects competing to bring blockchain based payments to the masses. Especially in developing countries, these efforts have the potential to improve the lives of millions of people. The Raiden network could be a key building block, as significant adoption relies on scalable technology and competing fees.
2. P2P Cash
As we know, cash flow is fading because there is a trend towards a cashless society. Scalable blockchain-based payments can help preserve the private and decentralized nature of cash while updating its user experience to the expectations of a new generation.
3. Micropayments
Blockchain is a hot candidate to be the payments infrastructure for the upcoming machine-to-machine economy. IoT could potentially increase the number of business transactions by an order of magnitude – and the cheaper the transport costs, the more use cases will emerge.
Micropayments can be used to gain fine-grained access to APIs, bandwidth, computing power, storage, electricity, basically any infrastructure. The same goes for content and entertainment, such as web pages, games, video or audio streaming.
Today, many proposed DApps rely on tiny payments between network participants to incentivize cooperative behavior.
4. Instant Token Swap
On top of payments, swapping tokens is probably the second most prominent blockchain use case. Things will get worse if the current tokenization trend continues. Decentralized exchanges built on RaidenNetwork's atomic token swap feature allow instant exchange of tokens at low cost.

Related link:
https://raiden.network/