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Rookie cryptocurrency, Ravencoin (RVN) continues with its bull run

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Ravencoin
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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 101

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.

Ravencoin Analysis

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

Altcoins

Is there a Real Value to Binance Coin (BNB)?

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Binance Coin (BNB) is one of the most interesting cryptocurrencies at the market right now. The coin was developed by the largest crypto exchange by trading volume in the world, and it only works within the exchange’s ecosystem. However, it still managed to achieve what many believed was impossible — it stopped following Bitcoin’s lead, and it started carving its own path.

At the very least, the coin is highly intriguing, but does it hold real value? This is a question that many in the crypto community have been asking for a while now, uncertain whether BNB is a worthy investment or not.

What gives BNB its value?

Binance Coin cannot be used for purchasing goods and services, like Bitcoin. It currently does not fuel a development platform like Ethereum. It cannot even be used as XRP for sending international payments. However, the coin had still managed to triple its price in the last three months and to surge when most other cryptocurrencies were seeing losses due to the last remnants of the crypto winter.

BNB managed to achieve all of this because of its use cases within Binance, but also because of its future potential. First of all, Binance is the largest crypto exchange in the world, with millions of customers, most of which use the exchange on a daily basis.

This means that the exchange inspires…

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Top 3 Reasons To HODL Binance Coin (BNB)

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After 2018 crypto winter began, everyone involved with cryptocurrencies experienced quite a difficult period. The prices were down, weak projects started failing, and even the strong ones appeared to be in more trouble than they could face. The year was especially difficult for HODLers, as they expected that the coins’ prices would continue to skyrocket. Instead, they lost a fortune, not even knowing if the prices will ever start returning to their former heights.

These days, things do not seem so bad anymore. The prices are still down, most of the coins are still at their newly-found bottoms, but smaller bull runs are improving the situation, while a massive one still remains somewhere in the future, at least according to optimists.

However, among the coins in the vast and diverse crypto market, one token stands out. Binance Coin is not exactly a typical cryptocurrency, and for many reasons. The biggest one is that it is one of the few tokens out there that does not follow Bitcoin’s lead, at least not anymore. Whether that will change in the future remains to be seen, but for now, BNB appears to be going its own way, carving its own path through the crypto market.

Its price has increased by several hundred percents since the year began, and for now, it continues to grow. As such, it is perhaps more worthy…

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Altcoins

Why Binance Could Become The First Centralized Company To Achieve Total Decentralization

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At this point, pretty much everyone who knows anything about cryptocurrencies knows that they are based on the concept of decentralization. The same is true for the blockchain technology. While there are some exceptions, such as certain stablecoins, most digital coins follow this principle.

This means that these coins, as well as their network, have no central authority, no single entity that would make choices and decisions that would impact others. However, while most coins managed to achieve this through different complex mechanisms and algorithms — one aspect of crypto trading still remains heavily centralized. We are, of course, talking about crypto exchanges.

Centralization of crypto exchanges

Most of the largest crypto exchanges out there are designed as companies, rather than community-operated platforms. The exchanges have their employees who designed them and developed special tools. They act as customer support, developers, innovators, and alike.

They also get to decide which coins will be listed and which are too weak, uncertain, or not fit to be found on the list. Exchanges are also responsible for keeping the traders’ and investors’ funds safe, which is why they typically develop their own wallets. As such, they are often targeted by hackers, as the coins are stored in an exchange wallet, waiting to be withdrawn, sold, or converted into different currencies.

This makes them extremely unsafe, and investors and traders are always…

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