Over the years of the existence of the cryptocurrency space, thousands of new projects have been launched. Many of them were essentially new packaging for one of the aspects of blockchain technology and its promotion among users. However, from time to time, projects are created solely to meet the needs of the community. It is how Ravencoin was born – a decentralized peer-to-peer blockchain infrastructure that allows efficient transactions and the creation of digital assets. Many aspects differentiate Ravencoin from the competition from a technical point of view, but users should not lose sight of its financial characteristics. In this article, let’s see if it is profitable to trade Ravencoin. But first, let’s find out more about this coin.
Features and characteristics of Ravencoin
This new cryptocurrency asset is based on the basic principles for the crypto-coin, namely: ensuring decentralization, security, openness, the anonymity of the participants in the crypto-network, and transactions carried out within it. The authors of Ravencoin are engaged in the development and subsequent implementation of technical improvements in the program code of the crypto coin to increase the indicators of its stability and resistance to external negative market factors.
One of the priority directions in the development of the token is the creation of the X16R hashing program principle. The authors of Ravencoin want to make it more resistant to mining using ASIC devices to preserve the possibility of mining crypto coins using the computing power of a video card or processor.
Unlike its progenitor, Bitcoin, the RVN coin received a number of the following innovations:
- high speed of processing and carrying out transactions is provided due to the formation of a block within one minute;
- users receive 5,000 RVN as a reward for participating in mining, which, given the large volume of emission, is an acceptable amount of crypt;
- the total emission volume of the coin should be 21 billion tokens, which somewhat limits the demand for the coin from users, but at the same time provides the possibility of carrying out large transactions within the crypto platform.
The development team of the Ravencoin coin paid special attention to the publicity of the initial information. Thus, anyone can take a direct part in improving the software component of the crypto coin by creating more advanced software tools.
At the same time, users note the convenience of using the internal wallet of the Ravencoin project, as well as the high speed of financial transactions within the crypto network. All this, according to the ideologists and project leaders, should help the coin gain popularity among users as a full-fledged digital payment instrument.
Should you buy Ravencoin now?
According to the project managers, in the future they will focus not only on the development and improvement of the platform’s software base but also will be engaged in an advertising campaign aimed at conveying information about the benefits of the coin to participants in the cryptocurrency market. Such a move should accelerate the rate of expansion of the user audience of Raivcoin, which will bear fruit in the form of a sharp jump in the market capitalization indicators and the value of the internal digital currency RVN.
Therefore, analysts positively characterize the possibility of medium-term and long-term investment in the RVN coin. It is also supported by the fact that the authors of the token throughout the existence of the coin have proven in practice the desire to improve the technical and software components of the crypto coin.
At the same time, in any case, it is not enough to study forecasts for 2021 for RVN for successful investment in such risky digital assets. It is necessary to independently study the factors that have a direct impact on the change in the exchange rate of the cryptocurrency. Such an approach will help increase the chances of making a profit, especially if the cryptocurrency market is expected to resume its growth, which is expected in the second half of 2021. The indicators of the Raivcoin exchange rate quotes can jump by hundreds of percent, which will bring profit when the coin is sold.
Ravencoin prospects
The prospects for the Ravencoin cryptocurrency are assessed differently by experts and analysts of the digital asset market. True, most forecasts point to the possibility of growth in the exchange rate quotes of the coin and an increase in the capitalization indicators of the token. At the same time, the youth of the coin can act as a deterrent, which forces users and investors to be wary of investing in this coin.
Thus, we can conclude that the prospects of the RVN cryptocurrency will depend not only on the steps of its developers but also on the situation in the cryptocurrency market and the activity of other projects that create competition for Ravencoin.
