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

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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

CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Can Libra help the crypto industry to reach new heights?

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Libra is motivated and determined to change the face of payment procedures across the globe and make the blockchain-based project the leaders of payments.
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The market for cryptocurrencies started with the launch of Bitcoin in 2009, and since then, so many cryptocurrencies have been launched that it gets hard to keep track of them. The crypto market has seen massive growth in the past 3-4 years as it started gaining attention from mass media, which helped in this boom.

From the past 2-3 years, several new cryptocurrency projects were launching in the market. Amid all this, the social media giant – Facebook announced the launch of their cryptocurrency platform, and this news got viral like wildfire. The announcement came forward in June, and the upcoming cryptocurrency is known as Libra, and it’ll come with its dedicated wallet called Calibra.

What is Libra?

Libra is a permissioned blockchain-based digital currency which is being developed under the supervision of Facebook’s vice president, David A. Marcus. The cryptocurrency is under development in partnership with an independent, non-profit member Libra Association. Facebook is the second member of the project, and these companies aim to use Facebook’s user base for the promotion of the digital currency when it is launched. The transactions and the cryptocurrency will be managed and cryptographically entrusted by the Libra Association.

Note: Libra Association was established by Facebook to look after the cryptocurrency and the transactions, and it was founded in Geneva, Switzerland.

The development of…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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