Ravencoin is a cryptocurrency that runs on a peer-to-peer system. It is a hard fork of the Bitcoin blockchain and is designed to transfer the ownership of assets. The project was launched in 2017 and its ICO was organized on 3 January 2018. It is currently ranked 41st in the Top-100 cryptos. In this paragraph, we will explore whether Raven crypto is a good investment.
What You'll Learn
RavenCoin's low fees and growing mining community
RavenCoin (RVN) is a peer-to-peer digital currency that is a hard fork of the Bitcoin blockchain. It was launched in 2017 and has since grown to become the 41st cryptocurrency in the Top-100. One of the key differences between RavenCoin and Bitcoin is their purpose: Bitcoin is designed as a payment currency, whereas RavenCoin is designed for the creation and transfer of digital assets.
Low Fees
RavenCoin's transaction fees are relatively low. While the RVN Wallet does not charge any fees to send a transaction, the RavenCoin network does require a "transaction fee". This fee is calculated based on the amount of activity in your wallet and is displayed to you before you authorise a payment. To reduce the number of small transactions to or from your wallet, it is recommended to combine them into larger transactions when possible.
Growing Mining Community
RavenCoin has gained popularity among miners due to its mining algorithm, which is designed to prevent ASIC mining and promote decentralisation. It has a block time of one minute, and its mining algorithm is KAWPOW, which replaced X16R and X16RV2 in May 2020. The X16R algorithm initially used 16 different hashing algorithms for each mining block, but the order was different for each block and was derived from the previous block's hash.
Since its launch, RavenCoin has displayed aggressive value growth. In March 2018, the RVN coin price soared by 30% overnight. As of September 2024, the current price of RavenCoin is $0.03, and it is ranked 163rd in the crypto ecosystem. In the past 24 hours, the crypto has increased by $0.0005, and in the last 7 days, it has increased by 15.29%.
With its low fees, growing mining community, and aggressive value growth, RavenCoin presents an attractive opportunity for investors.
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Not at risk of being classified as a security
One of the biggest reasons to invest in Ravencoin is that it is not at risk of being classified as a security. The cryptocurrency XRP saw a decline of over 60% in price after the Securities and Exchange Commission (SEC) filed an action against it, calling it an unregistered “digital asset security”. The SEC could classify many cryptocurrencies as securities, and even Ethereum is at risk of being classified as a security when it transitions to ETH 2.0. This could impact its price, future growth, and acceptance.
Ravencoin, on the other hand, is a decentralised project that was fairly launched. There was no fundraising of any kind, no founder or developer set aside, no corporate structure, foundation, or official leadership, and all coins were issued by POW (proof of work) mining. The legal opinion on why Ravencoin is not a security was prepared in 2018 by Douglas J. Pepe of Joseph Hage Aaronson LLC. This means that, unlike other cryptocurrencies, Ravencoin is not at risk of facing regulatory action from the SEC, which provides more certainty for investors.
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A fully developed and functional blockchain
One of the biggest reasons to invest in Ravencoin is that it is a fully developed and functional blockchain. Unlike Ethereum, which is constantly undergoing massive transformations, Ravencoin, like Bitcoin, has a base layer that isn't undergoing significant changes. This makes investing in Ravencoin less risky compared to other cryptocurrencies.
Ravencoin is a hard fork of the Bitcoin blockchain, which was launched on 3rd January 2018. It has a similar UTXO model to Bitcoin but differs in its maximum supply of 21 billion tokens, faster block generation time, and a different mining algorithm to prevent ASIC mining.
Ravencoin is a peer-to-peer system, which, unlike Bitcoin and Ethereum, serves to transfer the ownership of assets. Each transmitted object is represented by an unmarked token created by a user of the Ravencoin platform. Anyone can create new assets using Ravencoin but must burn tokens to do so. The project is led by core developers such as The Bitcoin Foundation's Bruce Fenton and has earned financial backing from crypto supporters like Overstock CEO Patrick Byrne.
Ravencoin is currently ranked 41st in the Top 100 cryptocurrencies, with a market cap of less than $1 billion. Its price has been volatile, with spikes and retracements, but it is currently showing bullish momentum.
In summary, Ravencoin is a fully developed and functional blockchain with a strong development team and financial backers. Its unique use case, low fees, and growing community make it a compelling investment opportunity, but it is important to remember that crypto investing is extremely risky, and one should always do their own research before investing.
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Positive sentiment from crypto experts
Some crypto experts have expressed optimism about RavenCoin's potential as a good investment. Here are some reasons why:
Firstly, RavenCoin is a more advanced hard fork of Bitcoin, focusing on reliability, anonymity, confidentiality, publicity, and open access. It serves a unique purpose of transferring the ownership of assets, with each transmitted object represented by an unmarked token created by a user. This has earned it a high valuation in the crypto community.
Secondly, RavenCoin has a strong and passionate community that actively promotes and supports its adoption. This community engagement can be a powerful marketing tool and drive further investment.
Thirdly, RavenCoin has low fees, which is attractive to miners and users, especially compared to other cryptocurrencies like Ethereum, which has seen an increase in transaction fees. This could lead to an increase in users and miners choosing RavenCoin over other cryptocurrencies.
Additionally, RavenCoin is a fully developed and functional blockchain, unlike some other cryptocurrencies that are undergoing massive transformations. This makes it a less risky investment option. It also has a strong team of developers, including Bruce Fenton from The Bitcoin Foundation, and has earned financial backing from crypto supporters like Overstock CEO Patrick Byrne.
Furthermore, RavenCoin is not at risk of being classified as a security by the SEC, unlike some other cryptocurrencies. This adds to its appeal as an investment option.
Finally, RavenCoin has a huge market potential as it is about tokenizing assets, which can include anything of value, from real estate and company shares to video game collectibles. The asset tokenization market is still in its early stages, and investing in RavenCoin now could be rewarding if it gains wider adoption.
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RavenCoin's use case
RavenCoin is a decentralised digital currency that runs on a peer-to-peer system. It is a hard fork of the Bitcoin blockchain, with some improvements over the original BTC code. Unlike Bitcoin and Ethereum, RavenCoin is designed specifically for the transfer of assets. Each transmitted object is represented by an unmarked token created by a user of the RavenCoin platform.
The RavenCoin blockchain allows users to create and transfer digital assets from peer-to-peer. It can be used to issue asset tokens for anything from real estate and company shares to video game collectibles and community points. Anyone can create new assets, but they must burn tokens to do so.
RavenCoin has a number of advantages over other cryptocurrencies. Firstly, it has extremely low fees, which makes it an attractive alternative to Ethereum, which has been suffering from high transaction fees. Secondly, it is a fully developed and functional blockchain, unlike Ethereum, which is undergoing constant massive transformations. This makes RavenCoin a less risky bet than Ethereum. Thirdly, it is not at risk of being classified as a security, unlike other cryptocurrencies such as XRP. Finally, it has the backing of industry leaders such as Overstock CEO Patrick Byrne, who has invested millions of dollars into the project.
Due to its unique use case and the advantages outlined above, RavenCoin has the potential to be a good investment opportunity. However, it is important to remember that investing in cryptocurrency is extremely risky and that the value of RavenCoin could decrease as well as increase.
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Frequently asked questions
RavenCoin (RVN) is a classic digital currency that runs a peer-to-peer system. It is a more advanced hard fork of Bitcoin with a heavy focus on reliability, anonymity, confidentiality, publicity, and open access.
Raven crypto is used to transfer the ownership of assets. Each transmitted object is represented by an unmarked token created by a user of the Raven platform. It can be used for anything from real estate and company shares to video game collectibles and community points.
As of September 26, 2024, the current price of RavenCoin is $0.03, with a market cap of 13,866,235,276 RVN. In the past 24 hours, the crypto has increased by $0.0005 in value.
Some advantages of investing in RavenCoin include low fees, a growing mining community, a fully developed and functional blockchain, and a huge market with a lot of potential for growth.
Investing in crypto is extremely risky and is more of a speculation than an investment. RavenCoin's price history has been volatile, with spikes and retracements. The coin's sentiment is currently low and bearish, which could indicate further downside.