Revelation 5:8-10

8 And when he had taken the book, the four beasts and four and twenty elders fell down before the Lamb, having every one of them harps, and golden vials full of odours, which are the prayers of saints.

9 And they sung a new song, saying, Thou art worthy to take the book, and to open the seals thereof: for thou wast slain, and hast redeemed us to God by thy blood out of every kindred, and tongue, and people, and nation;

10 And hast made us unto our God kings and priests: and we shall reign on the earth.

Jesus takes the book out of the right hand of the Father and is worshiped by the heavenly host.  Only God is worshiped. Jesus is therefore God.

The text in this passage in the King James is misleading - it would imply that the twenty-four  are of the redeemed. The American Standard Version is a better translation of this passage..

9 And they sing a new song, saying, Worthy art thou to take the book, and to open the seals thereof: for thou was slain, and didst purchase unto God with thy blood men of every tribe, and tongue, and people, and nation, 10 and madest  them  to be unto our God a kingdom and priests; and  they  reign upon earth.

Notice the difference between this version and the King James. The King James indicates that the twenty-four elders were  including themselves in the redeemed  men and being made kings and priests. However, the American Standard says  they are singing about the redeemed, not about themselves.  In this case, I believe the American Standard is a more exact translation of this Greek passage, although others may still disagree (because early manuscripts differ). In any case, this passage is questionable enough that it should not be used to build the case that the twenty-four elders are redeemed men as some who use only the King James translation assert.

The text in this passage indicates that the elders have vials that contain fragrances and that the fragrances in them are the prayers of the saints. The prayers of the saints are being stored. All unanswered prayer will be answered. The passage goes on and tells us that by the blood of the Lamb men have been redeemed. They are redeemed from every tribe, tongue, people and nation to become kings and priests that will reign on the earth. This passage speaks of those that Jesus purchased with His own blood. Notice that these kings and priests will reign on earth. Jesus is not coming back just to take everyone up into heaven for eternity as some teach.