As we know, there are plenty of cryptocurrencies in the digital world, and even more are being launched every year. Some of them show a bright future, while others fail, even before they succeed.
Today, we are looking at another interesting cryptocurrency - RavenCoin.
It was launched in 2018 as a Bitcoin fork, from the developers Tron Black and Bruce Fenton. The team predicts a future with more tradable and transferable assets, around the world.
Actually, Raven Coin has an interesting history, as it was the original Bitcoin fork. As a result, it retained most of Bitcoin’s features, although with new variations. Raven Coin uses a different algorithm to mine from an average computer and has an aim to accomplish the original vision of Bitcoin, breaking the traditional barriers in cryptocurrency mining.
What is Raven Coin?
Raven Coin is a decentralized blockchain-based digital currency, which started out as an experimental currency through the famous blogging platform - Medium. Later, Raven’s developers made a connection between the cryptocurrency and Game of Thrones. Right after that, on January 3, 2018, Raven Coin was officially launched.
Raven Coin Basis
Raven Coin is a code, executed for creating a new network. It works on a self-selection basis, garnering more volunteerism and friendliness.
It uses Bitcoin code, but the platform has its own protocol, asset and rules.
Raven Coin used a modified Proof-of-Work mechanism, minimizing the entrance barrier to mine on its network.
To create a new asset class, users need to destroy a specific Raven Coin. They also need to provide a new name for their coin. After that, users are able to focus on the specific features of the token.
Raven Coin Benefits
Raven coin uses some of the best aspects of Bitcoin code, but also offers a new set of features and cuts some critical elements. It takes out the one-minute block reduction, and removes the ability for users to issue custom assets.
As we already mentioned, the goal of Raven Coin is to allow users to mine RVN at home, on their average computers. This is possible without government control of money supply. RVN circulates token supply right after it surfaces through mining.
RavenCoin creates computational issues that could be solved by an average hardware computer, addressing the traditional blockchain problems, requiring high computer power to be solved. It uses a set of algorithms to reduce the need for special mining equipment.
Mining Raven Coin
To mine RVN you will need a digital wallet with a unique address. After the setup, you can choose from a range of mining pools associated with RavenCoin. It has a maximum supply of 21 billion, and at the time of writing (June 2022), 10,473,290,000 RVN are in circulation. The expectations are that it will reach its total supply by 2080.
Is it worth it?
For the last few years, it has become clear that Raven Coin is one of the most viable and practical mining cryptocurrencies. It is even expected that by the end of 2022 it may reach a brand-new light.
Of course, we can never be sure what the future holds for Raven. However, we see that the interest in investing and mining cryptocurrencies continues to rise, and RVN becomes a highly desirable currency, garnering enough interest to keep it going in the future.
Raven Coin has a goal to empower more and more users to roll out a new class of assets. It also expects digital transactions to become absolutely frictionless in the future, when anyone will be able to transfer huge amounts of money.
Raven Coin seems to have a bright future ahead. Yet, before you invest, you must do your research, and of course, never invest more than you are willing to lose.
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