To be held this October, the initial coin offering (ICO) for Raiden Network will seek to further fund the development of the payments protocol. Led by blockchain consulting firm Brainbot and its co-founder Heiko Hees, the milestone will be the latest for a project first unveiled in 2015 as a way to increase transaction capacity on the world's second-largest blockchain.

According to the entity, funds will be used to finally complete the network, enabling ethereum users to send payments back and forth at higher volumes, without needing to trust intermediaries.

But, why would users buy the token?

Due to its design, the Raiden Network will likely cost fees. For one, Raiden requires that users "watch" their payment channels for a certain period of time to make sure funds aren't stolen. But, users aren't likely to want to sit at their computer and do it themselves.