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Ravencoin (RVN): Project Review, Recent Developments, Future Events, Community

Ravencoin (RVN): Project Review, Recent Developments, Future Events, Community

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  • Ravencoin (RVN) tops the crypto performance chart, gaining 57% in the same week as Bitcoin’s 2022 low.
  • RVN’s meteoric rise is fueled by the migration of miners from the Ethereum network to Ravencoin.
  • With the move, Ravencoin’s hashrate has increased from 2.53 TH/s up to 4.263 TH/s per month.
  • Ravencoin has also announced the first platform of its Meta chain, with gaming to earn and VR features.

Project review

Ravencoin (RVN) is a hard fork of the original Bitcoin code that was launched in 2018. However, the project sought to improve the structure of Bitcoin, which creates several differences between the two chains.

Ravencoin was built as an open source project and a decentralized development community and was launched “fairly” without an Initial Coin Offering (ICO). They also didn’t make ready-made mines, didn’t have pre-sales or implemented any masternodes.

Ravencoin is designed to facilitate the issuance of tokens and serves as an alternative to other token-supporting chains such as Ethereum. This allows Ravencoin to facilitate the transfer of assets from one party to another.

It also improves Bitcoin block time, reducing it from 10 minutes to 1 minute. RVN’s total supply is capped at 21 billion (a thousand times more than BTC). RVN coins are designed to be the internal currency of the network and must be burned in order to launch the token asset on Ravenchain.

Social media: Website | Blog| Conflict | Twitter | Facebook | Medium | Telegram | Reddit

Recent events

Recently, Ravencoin has been one of the most talked about projects as the Ethereum merger approaches. The project offers the benefits of Bitcoin (mining) and Ethereum network token issuance.

Ethereum miners who are sidelined after Ethereum becomes a proof-of-stake (POS) network are flocking to the Ravencoin network. The Ravencoin team is also doing everything they can to promote the exit of Ethereum miners.

Hashrate – The computing power used to secure the Ravencoin network has increased significantly since discussions about the migration began. Over the past month, Ravencoin’s hashrate has risen from 2.53 Terahashi per second (TH/s) up to 4.264 TH/s.

The hashrate of the Ravencoin network is now 3.87 TH/s, which is a significant increase from last month. In the midst of interest in Ravencoin, the leading crypto exchange, KuCoin announced support for Ravencoin (RVN).

Price updates

Returning to the spotlight has been a huge boon for Ravencoin (RVN), which has outperformed the entire crypto market. The parabolic rise can be linked to the growing exodus of Ethereum miners looking for alternative platforms.

Ravencoin (RVN) 24 hour price chart. Source: CoinMarketCap

Over the past 24 hours, Ravencoin has gained over 27%, bringing its total weekly gain to over 58%, making it the third best performing crypto. RVN is now trading as high as $0.04562 – the first time since May.

Ravencoin (RVN) 7-day price chart. Source: CoinMarketCap

The recent price increase has catapulted Ravencoin into the top 100 cryptos. Ravencoin’s market cap is now $481.6 million, down from less than $300 million a week ago.

Future events

Interest in Ravencoin is now starting to spread from mining to its ecosystem. Meta-Z, the first platform with Play-to Earn & VR features on the Ravencoin Blockchain has been announced.

The Ravencoin team has also announced that a cold storage device designed specifically for Ravencoin (RVN) and other Ravencoin assets is in the works. While there is no release date for the cold wallet, the team has said that the device will be ready for release soon.

On September 15, Ravencoin will hold its first meeting on the virtual platform Braveland. The meeting will discuss in-depth Ravencoin research to give birth to Bitcoin 3.0.

A physical meeting will take place in November aboard the Royal Caribbean Symphony of the Seas. In the week-long event, the team discusses the project’s journey and possible future events.

On the flip side

  • Despite promising better performance than Bitcoin, Ravencoin (RVN) has not enjoyed as much utility as initially predicted since its launch in 2018.

Community

The previously dormant Ravencoin community has been rekindled by the great migration of miners. It has also helped the Ravencoin community grow in size and popularity.

Hyped about Ravencoin’s prospects, @whitehashart write on Twitter;

Speaking of the possibility of Ravencoin after the Ethereum merger, @Bitbookkeepers wrote;

Another user, @blockchaintiger, believes that;

Why you should care

Built on the Bitcoin fork, Ravencoin has evolved into a decentralized payment network that combines the best of the Bitcoin and Ethereum networks. The migration of miners to the Ravencoin (RVN) ecosystem can accelerate the development of the project.



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