While most virtual currencies this week are maintaining an unstable projection and are showing signs falling into the red zone by dangling on edge, some virtual tokens are recording significant figures. One such coin is the rookie digital asset, Ravencoin (RVN) that has marked its seven-day volume price surge of as much as 61,929 percent, with a trade volume increase of 55 percent within the last 24-hours. This comes as a result of the coin pumping over 250 percent after its listing on Binance.
Ravencoin, which is an altcoin, is making great strides in the cryptocurrency market with its gains being attributed to the latest announcement of the virtual currency’s mainnet is going live at the end of October 2018.
On Sunday, the young altcoin, which holds enormous potential for growth, closed the day with a 31.97 percent high against the US dollar and by near similar percentages of 32.62 percent against big-performing virtual currency, Bitcoin.
Also, Ravencoin recorded high volume trading in the past 48 hours, managing to record 79 percent trade appreciation of about 37 million US dollars. During the same time, its market cap nearly doubled from its previous figure of 37 million US dollars to its current 64 million US dollars.
Ravencoin originated from an open-source fork of the default Bitcoin code that facilitates efficient transfer of digital assets between entities. Ravencoin was developed with this detailed functionality in mind as an alternative to Ethereum’s ERC20 and Bitcoin transfer protocols.
The name Ravencoin borrows its name from the avian delivery protocol of choice getting its inspiration from the famous novel turned tv series, Game of Thrones. The developers behind Ravencoin decided to make the cryptocurrency an open-source project that allows users the ability to declare their virtual assets on the network. The network itself is transparent, decentralized, and more importantly airtight secure.
And just like in Game of Thrones where ravens were used to carry and spread truths and news, Ravencoin is striving to become the virtual currency and blockchain technology that is going to be the carrier of truth in regards to the ownership of virtual assets on the blockchain.
At the moment, the primary use of the cryptocurrency and blockchain technology is to perform P2P transfers while prioritizing security, control, user privacy, and autonomy. Additionally, as other virtual currencies intensify their fight and quest for truth and transparency, Raven is taking a step further, standing against censorship.
Ravencoin (RVN) Mining
Ravencoin made its entrant into the market on 31st October 2017 with mining binaries being released a few months later on 3rd January 2018, during the ninth anniversary of Bitcoin’s introduction to the market.
The development of the young crypto is guided by a phased development schedule that shows the type of undertakings they should take at particular levels. Currently, developers are working towards the creation of the Ravencoin mainnet and its new mining algorithm, the x16r. The x16r algorithm is being explicitly designed to contest top ASIC mining equipment and heavy mining pools.
Ravencoin hopes to use proof of work protocols in their mining activities not only to save on electricity consumption but also to focus on the more critical aspects of their core business. Which involves building a super tall and time-based wall that will safeguard users from any potential tampering and censorship in the future.
At the time of writing, the price of Ravencoin stands at about 0.0577 US dollars (after surging 56.4% further in the last 24 hours only) positioning the digital coin to be among the top 60 cryptocurrencies in the market (it was in top 100 just a couple of days ago).
As the market continues getting more information concerning the crypto, analysts expect it to further spike upwards with a massive bull run expected at any time.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Ulleo/Pixabay
XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…