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The Ravencoin (RVN) crypto gained traction on Thursday, evidenced by its value rally. The RVN token was up over 4%, however the quantity fell 10% within the final 24 hours to Thursday morning.
What’s Ravencoin (RVN) crypto?
Ravencoin is a digital peer-to-peer (P2P) community targeted on implementing a use case-specific blockchain created to deal with one particular perform – transferring belongings from one get together to a different. It’s constructed on a fork of Bitcoin code.
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After unveiling the venture in October 2017 and releasing the binaries for mining, its full launch got here in January 2018, with none pre-mine, preliminary coin providing, or masternodes. The venture identify has been impressed by the hit tv sequence Sport of Thrones.
Bruce Fenton, Joel Weight, and Tron Black had revealed the venture’s whitepaper. It claims to have made key adjustments to the community, like modifying the block reward issuance schedule for five,000 RVN tokens, decreasing the block time to 1 minute, and capping a coin provide of 21 billion. It additionally launched a mining algorithm that lowered the mining centralization attributable to ASIC {hardware}.
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It intends to unravel the problems associated to the switch of belongings over the blockchain. In the meantime, the RVN cash are designed as an inner forex throughout the Ravencoin ecosystem. RVN should be burnt for issuing the tokens on the community. These belongings might signify real-world custodial objects like gold, currencies, shares, and so on.
The RVN token is out there on exchanges like Binance, Huobi World, OKEx, and so on.
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Knowledge Supply: CoinMarketCap.com
Backside line:
The Ravencoin (RVN) crypto was priced at US$0.03026 at 10:50 am ET on Might 19, up 4.63%, whereas its quantity for the final 24 hours declined 10.11% to US$16.86 million. It has a market cap of US$311.46 million, and its fully-diluted market cap is over US$624.51 million.
The token has a most provide of 21 billion, and its whole and present circulating provide are over 10.47 billion. It returned positive factors of 26.62% within the final seven days. The token noticed the very best value of US$0.05742 and the bottom value of US$0.02028 within the final 30 days.
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