What is Ravencoin (RVN)? RVN is a blockchain project that has made a name for itself in the payments of token bills. As Kriptokoin.com, we have answered the questions for you, such as what is Ravencoin (RVN), what the project offers, how to buy RVN coin, what are its advantages and disadvantages.
What is Ravencoin (RVN)? What does the project offer?
Ravencoin was founded in 2018 as a Bitcoin hard fork that allowed anyone to create tokens. Although the network is based on the Bitcoin blockchain, it stands out because it works faster and easier than it. In response to the question “What is Ravencoin (RVN)”, we can say that “RVN is a Proof-of-Work (PoW) blockchain designed for users to create tokens more easily and quickly”. The peer-to-peer (P2P) network allows users selling software and NFTs to receive payments with RVN coins.
Tokens with ERC-721 smart contract can be produced through the platform. The tokens published on the platform can be used in many different ways and purposes. Users can create real-time asset transfer transactions or non-changeable tokens (NFTs) on the platform. According to analysts, the network works quite similarly to Bitcoin. However, it uses higher technology and does not contain the bugs found on the BTC network.
What is RVN coin? What is it used for?
RVN coin is used to transfer tokens representing virtual goods, stocks, rewards, gold and more from one party to another. In addition, Ravencoin can also be used to generate NFTs through MangoFarmAssets, an RVN wallet platform. Also, Binance Smart Chain (BSC) offers its users a tokenized version of RVN. This means that RVN coin can be used for trading, lending and borrowing in decentralized finance (DeFi) applications.
What are the advantages?
One of the biggest advantages of RVN coin is that it is listed on many major and reputable crypto exchanges. These crypto exchanges with different liquidity levels offer different price tags for RVN. This means that RVN coin can be bought cheap on one exchange and sold high on another. RVN has a structure that can be stored in offline crypto wallets. Therefore, users can be more easily protected from malicious hackers. In addition, they can perform cross-border transactions through crypto wallets faster with lower transaction fees.
What are the disadvantages?
The biggest disadvantage of RVN coin is that Bitcoin is more affected by price action than any other crypto currency. Therefore, users who want to trade RVN should pay close attention to Bitcoin’s price action alongside RVN. Like other blockchain networks, Ravencoin can be hacked by hackers. In these attacks, investors can lose some or all of their assets.
What is Ravencoin (RVN)? How to buy Ravencoin (RVN)?
As we mentioned earlier, RVN coin is listed by many major crypto exchanges. Crypto exchanges such as Binance, Huobi Global, OKEx, Bitmax, Indodax, WazirX, Paribu, CoinDCX, Coin EX, Garviex support the token. Interested investors can buy Ravencoin by signing up for one of these exchanges and creating a wallet.