Ravencoin — or RVN — is an experimental coin that premiered in early 2018 with an agenda to make the transfer of assets from one party to another more efficient than any of the existing cryptocurrencies allow. The end-goal of the new project is to create a blockchain that allows transferring assets from one holder to another in the form of tokens.
RVN is an ASIC-resistant and open-sourced project with a focus on defying censorship. Since day one, the creators of the currency have boasted an entirely equal opportunity to mine or purchase RVN for all its users.
Pros and Cons of Ravencoin
There are several major positives to using the new crypto:
- RavenCoin is an open-source currency: there is no central authority in the network with all users “created equal”.
- The team working on the project is dedicated to maintaining the privacy of all participants.
- Exploring the concept of tokenizing assets is one of the more exciting vectors in the cryptocurrency world. Being able to tokenize and trade assets will allow new industries to reap the advantages of blockchain.
- RavenCoin has the potential to disrupt the traditional securities and shares market. Tokenized assets will allow their creators to compensate the users that hold these tokens.
The main concerns regarding RVN have to do with mostly the same issues that other currencies face during their growth:
- The maximum supply of RVN hovers around 21 Billion. With more and more Ravencoin entering the circulating supply, the value of the existing coins will drop.
- The community-driven startup will have to compete with the more well-established and heavily-funded players for success in the market.
Where to Buy Ravencoin?
Over the last two years, the price of Ravencoin has spiked four times reaching an all-time high in June 2019. In all instances, the spikes did not last very long and the costs dropped significantly after each of them.
RVN is currently available through the following exchange platforms:
- DEX Trade
Where to Store Ravencoin
Despite the interest in RVN, there aren’t that many third-party wallets willing to work with Ravencoin. With the project lacking an ICO (Initial Coin Offering), integrating the coin into a wallet’s code is not that easy. Thus, RVN native wallets are the first options that come to mind. Fortunately, there are quite a few variants to choose from. On the official website, you may download a desktop wallet for Windows, macOS, and Linux. The mobile wallet is supported both on iOS and Android. One more thing is a pocket Raven web wallet which is also available for download at the Ravencoin website.
Nevertheless, there are several secure storage options available for users looking to store their RVN. To name just a few, Trust Wallet, Atomic Wallet, and Guarda provide safe options for hot storage. For those who prefer hardware wallets, Trezor and Ledger Nano S options are available.
Ravencoin was created with a single goal to allow users to tokenize assets. A singular focus is not a bad thing: many startups that attempted to multi-task from day one often ended up with a sub-par product. Once it gains traction, Ravencoin has all the potential to become a key player in the market, especially with its fully decentralized model and unique agenda.
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