Ravencoin prices are having a rave with a spike over 25%

Ravencoin is an open-sourced project which allows its users to declare assets on their decentralized and secure platform, and use a secure messaging channel for peer-to-peer communication. It also offers ledger voting for important decisions regarding the project’s protocol.

According to Ravencoin, the influence is based on George RR Martin’s cult-classic Game of Thrones:

“In the fictional world of Westeros, ravens are used as messengers who carry statements of truth. Ravencoin is a use case specific blockchain designed to carry statements of truth about who owns what assets.”

Master of Coin Lord Petyr Baelish, anyone? I won’t get any more into that matter because spoilers for the cult classic book series-turned-popular television programme would be an unforgivable act.

But I will dive deeper into the coin which is spiking in the market. Ravencoin is still a young project, having only been launched in January of this year. It is a blockchain technology and has been built on one of Bitcoin’s models.

Its use-case is for peer-to-peer transfers, while it holds character in prioritizing user control, security, user privacy, and autonomy and aims for resistance against censorship. Like many post-Bitcoin modeled projects, Ravencoin draws influence from the original blockchain-based currency. The project has shifted take on aspects such as mining-time, and this sets Ravencoin apart from cookie-cutter Bitcoin models. There is only one-minute as a block reward time, making mining the token resistant to application-specific integrated circuit (ASIC) mining rigs as well as hosting a good energy conservation.

Also diverging from Bitcoin, according to Ravenvcoin, it boasts:

  • The issuance schedule (block reward of 5,000 RVN)
  • Coin supply (21 Billion)
  • Mining algorithm (X16R)

Currently, Ravencoin is trading for $0,031270 USD and has seen a price hike of 25.66% in day-on-day trading.

Related Articles

Crypto exchange Binance doubles staff figures in Brazil

Binance has announced that it will be opening two new offices in Brazil, with the team behind the operation doubling in number.

Crypto ATMs post a decline for the first time in the industry

September posted a net negative change in cryptocurrency ATM installations, marking a dip in the number of machines for the first time ever.

CBDC adoption: Russia enters final phase to test digital ruble

Russia is in the final phase of testing a central bank digital currency (CBDC), which will be used for both national and international...

What exactly is DeFi? Decentralised finance explained

DeFi is a set of technologies that enables people to manage their funds on a peer-to-peer basis and it's changing the way money can be used.

See All