About Ravencoin (RVN)weiss-badge

Overview

Ravencoin is a blockchain platform that aims to be the most efficient at one specific use-case for digital assets, which is the transfer of assets from one party to another. Existing blockchains (BTC and ETH) are capable of accommodating asset transfer, but because this was not in their design purpose, they are identified as having major shortcomings in this area.

Ravencoin states its design is to “handle the efficient creation and transfer of assets from one party to another”. In essence, it exists to enable instantaneous transactions to anyone, anywhere while not being restricted to wealth movements. This means its blockchain is designed to move securities and other asset holdings with the same efficiency. This blockchain is created to cater for a wide variety of assets in the form of unique tokens of limited supply, that have whatever characteristics the specific developers want, based on the asset they are ‘tokenizing’ or representing.

This blockchain is relatively young, launching on January 3rd, 2018. It has developed steadily since its launch, especially if you consider the market conditions around its launch-date, with its market capitalization growing to a peak $237 million USD in April 2019.  

Technology

Ravencoin was developed on a fork of the Bitcoin code, launching on the third of January 2018. Ravencoin prides itself on being completely open-source, with no ICO or masternodes. The developers of Ravencoin have stated four key changes it made to the original Bitcoin code that differentiates it from Bitcoin itself:
  • The block time (down to 1 minute)
  • Coin supply (21 billion as opposed to 21 million)
  • An alternate mining algorithm
  • Differing issuance schedule (mining rewards)
  Here is a short informative video on the specific characteristics of Ravencoin.   For more information, visit their website here.

A wallet is essentially a bank account for your cryptocurrency and the wallet address is like your account number. The sender of the cryptocurrency needs a wallet address so they have somewhere they can send it from their wallet, much like a bank transfer. This wallet is giving you access to the blockchain where you can view your balance, send and receive cryptocurrency.

For information please read our beginners guide to cryptocurrency wallets.

POLI - internet banking

POLI is secure and fast. It links directly to your internet banking – login with your normal details and the rest is easy. No extra fees or surcharges. Watch this short video to see how it works.

Buy Ravencoin (RVN)weiss-badge

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Storing your coins with Wallets

A wallet is essentially a bank account for your cryptocurrency and the wallet address is like your account number. The sender of the cryptocurrency needs a wallet address so they have somewhere they can send it from their wallet, much like a bank transfer. This wallet is giving you access to the blockchain where you can view your balance, send and receive cryptocurrency.

For information please read our beginners guide to cryptocurrency wallets.

Pay with POLI. Its fast!

POLI - internet bankingPOLI is secure and fast. It links directly to your internet banking – login with your normal details and the rest is easy. No extra fees or surcharges. Watch this short video to see how it works.

About Bitcoin

Bitcoin (BTC) is a form of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds. Transactions are stored on a distributed, immutable, online, public ledger known as a blockchain. Bitcoin was the first truly decentralised cryptocurrency which was created by a programmer under the pseudonym Satoshi Nakamoto and was released in 2009. The system is peer-to-peer, verified by network nodes and recorded in a public distributed ledger called the blockchain. Bitcoin can be exchanged for other currencies, products, and services with over 100,000 merchants and vendors accepting bitcoin as payment. Bitcoin can also be held as an investment. There are only a fixed number of Bitcoin will ever be mined (21 million), it’s not controlled by any one government or central bank, and there’s no such thing as quantitative easing or fractional reserve banking. These qualities make Bitcoin excellent as a store of value and a long-term safe-haven asset, similar to gold.

A Bitcoin success story that went viral on social media is Kristoffer Koch from Norway. Koch invested around $27 in Bitcoin in 2009 and then forgot about it for four years. He remembered about his Bitcoin wallet in 2013, which had then grown in value to $886,000.

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Due to the price of sending and sourcing BTC the minimum order is $500.00.

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