Ravencoin at a Glance
Ravencoin (RVN) is a proof-of-work cryptocurrency designed for efficient GPU mining. It uses the unique X16R algorithm and focuses on enabling peer-to-peer asset transfers. Currently, Ravencoin is trading at approximately $0.0129, with a 24-hour trading volume exceeding $10 million.
The live market data shows a slight decline of 3.44% in the past day. Its all-time high stands at nearly $0.30, while the lowest recorded price was around $0.00845. The circulating supply is maxed at 15.3 billion RVN, giving it a market capitalization close to $198 million.
This digital asset ranks 94th in global market cap rankings. Its 24-hour turnover rate is 0.05%, with a price volatility of 5.60%. For those interested in deeper technical analysis, you can access advanced market tools for real-time charting and indicators.
Understanding the Ravencoin Project
Ravencoin launched on January 3rd, 2018, as a true open-source project with no initial coin offering or master nodes. It is a fork of Bitcoin's codebase but with modifications to serve its specific purpose: creating a blockchain optimized for transferring assets between parties.
The project emphasizes utility and community development. Its founder was an early Bitcoin Foundation member with involvement in Ethereum's crowd sale and several other notable blockchain projects. The team distributed RVN fairly through mining from the start, with no pre-mine allocation.
Key Technical Features
This network uses a modified proof-of-work consensus mechanism. The X16R hashing algorithm prevents dominance by specialized mining hardware, making it accessible to individual miners using graphics cards. This promotes decentralization and network security.
The blockchain is designed to handle the creation and transfer of digital assets. Users can tokenize real-world assets and trade them on this secure, transparent network. This functionality opens numerous possibilities for securities, certificates, and unique digital items.
Market Performance and Trading Insights
Recent trading activity shows Ravencoin experiencing moderate volatility. The 24-hour price range fluctuated between $0.0127 and $0.0134. Over the past week, the token decreased by about 11%, though it gained nearly 20% in the last month.
Trading volume remains healthy at over 800 million RVN daily. The full diluted valuation sits at $198 million, identical to its current market cap due to all coins being in circulation. This complete distribution prevents inflation from new coin issuance.
For traders seeking exposure, several major exchanges list RVN trading pairs. Always conduct thorough research and consider market conditions before entering any position. The crypto market is known for its rapid price movements and inherent volatility.
Frequently Asked Questions
What makes Ravencoin different from Bitcoin?
While both are proof-of-work cryptocurrencies, RVN uses the X16R algorithm instead of SHA-256. It's designed specifically for asset creation and transfer, not just as digital cash. The total supply is 21 billion RVN, exactly 1000 times Bitcoin's supply.
How can I acquire Ravencoin tokens?
You can obtain RVN through mining with GPUs or purchasing on cryptocurrency exchanges. The mining process involves solving computational problems to secure the network and receive block rewards. For buying, select a reputable platform that supports RVN trading pairs.
What is the primary use case for Ravencoin?
Its main function is enabling users to create and trade digital assets on its blockchain. These tokenized assets can represent real-world items like property, securities, or collectibles. The network is optimized for this specific purpose rather than general payments.
Is Ravencoin a good investment?
Like any cryptocurrency, RVN carries significant risk and volatility. Its value depends on adoption for asset tokenization and overall market conditions. Always perform your own research and never invest more than you can afford to lose in this speculative market.
Where can I store my RVN securely?
Use official Ravencoin wallets or reputable third-party wallets that support this asset. Hardware wallets provide the highest security for long-term storage. Always backup your private keys and never share them with anyone.
How does Ravencoin ensure network security?
It uses proof-of-work consensus where miners validate transactions and create new blocks. The X16R algorithm resists ASIC mining, promoting decentralization. This prevents any single entity from controlling the network's operation.
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