Ravencoin is a native cryptocurrency created on Ravencoin Blockchain network whose transaction takes place from one peer to another without involvement by the government thus is being considered to be a decentralized asset. Ravencoin was created from the code fork of bitcoin with the main objective of making the coin to enable easy creation of tokens on its blockchain network. The coin was created to be released as a proof-of-work just like bitcoin.
Ravencoin transaction takes place on the Ravencoin blockchain explorer based on block height and timestamp. To view how the transaction takes place at Ravencoin blockchain explorer, simply follow the link below;
Ravencoin was created in 2018 from the bitcoin hard-fork with the main objective of allowing other assets to be created and issued on its blockchain Founder Of Ravencoin
Ravencoin was created by Tron Black from the bitcoin hard-fork with the main objective of allowing other assets to be created and issued on its Blockchain.Tron Black is a serial entrepreneur and a blockchain technologist
Process of creating Ravencoin
Just the way Cryptocurrencies like bitcoin and Ethereum which are created as a proof-of-work through the mining process, For Ravencoin, the same case applies. The mining process of Ravencoin takes place in the presence of internet and power using the X16R algorithm. The mining is being aided by GPU and CPU . You can either choose to become a solo miner which is very slow and takes a lot of time to discover a block of Ravencoin or can decide to join a mining pool which is more rewarding since many miners are sharing their computing power to solve a block.The more computing power you share the more Ravencoin you earn.For every block discovered, 5000 Ravencoin is being rewarded to miners. This rewarding process started in 2018 and will go on until 2022 where the first halving will take place such that the reward will reduce from 5000 to 2500. The halving process will go on until all 21,000,000,000 Ravencoin are being mined.If you want to start mining Ravencoin then you can join the Ravencoin pool. Here is the Ravencoin pool where you can start mining your Ravencoin;
Maximum circulation of Ravencoin
The maximum supply of Ravencoin coin that is expected to be circulating in the Ravencoin blockchain Network should be 21,000,000,000 upon completion of its mining process. After every 4 years, Ravencoin rewards will keep on halving until no more Ravencoin can be mined. Currently, the block reward was started in 2018 at 5000 Ravencoin for every block found.
Currently, 1 Ravencoin is worth more than $0.037 and its price is expected to increase over the next period of time. Ravencoin is being abbreviated as RVN.
Converting my Ravencoin to other cryptocurrencies
To convert your Ravencoin to other cryptocurrencies such as bitcoin and ethereum, you need to have a cryptocurrency exchange account. If you don't own one then you can follow the link to open a cryptocurrency exchange account for easy conversion of your Ravencoin to bitcoin or ethereum. https://www.binance.com/?ref=10776203
Storing my Ravencoin
To store your Ravencoin, you need a Ravencoin wallet . You can either store online or offline. To store your Ravencoin online you can use Coinpayment wallet or can use other online wallet supporting Ravencoin like crypto.com. To secure your Ravencoin from being stolen by hackers, you can use offline Ravencoin wallet like ledger Nano or can download Ravencoin wallet.
Transferring my Ravencoin to other Users
If you want to transfer your Ravencoin to another user, the two of you must have trust in each other. The trust should be the Ravencoin address provided for the receiver while the sender must have the Ravencoin balance in their account to send to the receiver. For the sender, a blank space to insert receiver address and another blank space to insert the amount to send to the receiver is indicated. Here is how it looks like;
Knowing more About Ravencoin
If you feel that you need to learn more about Ravencoin, then you can follow them on their site. Here is the link redirecting you to Ravencoin website https://ravencoin.org/
Now that you know, I think that it is time for you to start earning some Ravencoin by mining them or can purchase them if you do not have enough computing power . The more your computing power the more you earn. If you feel that I should also own some Ravencoin for helping you to know about it then here is my Ravencoin address;