How Did Ravencoin (RVN) Reach $ 2 Billion?




Ravencoin (RVN), which was launched on January 3, 2018, the ninth anniversary of Bitcoin, is experiencing its golden days these days. Ravencoin, a project based on the Bitcoin code, with new features and changes introduced, has reached 20 times in terms of price since late December, and its market value is based on $ 2 billion. This striking rise naturally brought along an increase in interest in Ravencoin.


The main goal of the project is to create a specially optimized blockchain to ensure that assets such as tokens can be transferred easily and securely from one to another. Ravencoin, which enables real-world assets to be bought and sold on the blockchain network, is supported by Bruce Fenton, a board member of the Bitcoin Foundation and an early Bitcoin investor. The project also received several million dollars in investment from Overstock.


By the way, Ravencoin's name comes from Game of Thrones. In English, 'raven' means 'raven'. Ravencoin explains this as follows:


“Westeros’un kurgusal dünyasında kuzgunlar, gerçeğin işaretini veren haberciler olarak kullanılır. Ravencoin, hangi varlıkların kime ait olduğuna dair gerçek beyanları taşımak için tasarlanan bir kullanıma durumuna özel bir blok zinciri.”


Some features were changed while Ravencoin forked from Bitcoin. For example, 5000 RVN rewards per block, 1 minute block duration, 21 billion supply, X16R mining algorithm… It is noted that centralization of crypto money with ASIC devices is prevented thanks to this algorithm.


First halving in January 2022:


On the other hand, it is months away from the first block prize halving in Ravencoin. As is known, halving means reducing the reward miners receive per block. In Bitcoin, the mining reward is reduced by half every four years, and in this way, the supply of crypto money is reduced and inflation is prevented. The first block prize halving in Ravencoin will take place in January 2022, estimated. The rewards will be reduced from 5000 RVN to 2500 RVN.


Coinbase rumors:​​​​


Recently, rumors have been circulating within the community, especially Reddit, that Coinbase may list RVN. The Ravencoin team announced that they have applied to be listed on Coinbase. “We've made an application to Coinbase and hope to be listed soon. We meet all the criteria for being listed. " It was said. However, Ravencoin was not included in the list of cryptocurrencies researched to list Coinbase's previously announced. However, the exchange launched a platform called "Asset Hub" last month to simplify and speed up the listing process. This platform makes it easy to apply for projects to be listed.


On the other hand, Ravencoin has become one of the most profitable mining cryptocurrencies. While Ethereum is a favorite of miners these days, Ravencoin has started to stand out in this sense.


Last but not least, the cryptocurrency market is going through an entire bull market. In bull markets, there are often no concrete reasons needed for prices to rise.

COMMENT

2

zdigital 22
24 Feb

This is great I now have another crypto coin to follow.

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