One of the most promising areas of blockchain technology is asset digitization. Ravencoin is a cryptocurrency specifically designed to meet the demand for assets and securities to be tradable across borders. RVN saw a colossal rise in its price in the beginning of 2021, and several investors are curious to know if Ravencoin could be a millionaire-maker coin.
This unique cryptocurrency is based on a blockchain that allows users to create and transfer digital assets from peer-to-peer. Although other blockchains could transfer assets, they were pretty slow and not ideal for the purpose. Today, thanks to its increasing popularity, numerous investors want to buy RVN. Let us see what makes the coin so unique.
What Is Ravencoin?
Ravencoin was launched as an open-source fork of Bitcoin’s codebase. It is a software that seeks to incentivize a network of computers to operate a platform and allows users to create a new class of crypto assets. The protocol is particularly designed to facilitate the creation and transfer of tokens that represent real-world assets. The assets ranged from securities, collectables, gold, event tickets, to even airline miles.
The project aims to break the monopoly of large mining operations and specialized equipment. It also offers token issuers a viable alternative to smart-contract-centric blockchain like Ethereum. Although RVN was a fork of Bitcoin, the team modified the code to add additional features to suit its goals. Therefore the token has the efficiencies of the crypto giant along with several other features, which is one reason why Ravenoin could be a millionaire-maker coin.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Is Ravencoin A Millionaire-Maker Investment?
Ravencoin was not meant to be cash, unlike other cryptocurrencies. It prioritized user control, privacy, and censorship resistance and was jurisdiction agnostic. The developers altered the Bitcoin codebase to provide seamless issuance and transfer of tokens and assets on the blockchain. Ravencoin is one of the top altcoins to buy now since it is created for a particular and significant use case in the market today.
However, the basic structure of RVN is that of a peer-to-peer asset transfer blockchain, with its consensus mechanism optimized for more efficiency and better performance. This way, the token allows users to mint and trade their own digital assets on the network, a feature that could make Ravencoin a millionaire-maker investment.
Moreover, Ravencoin is a highly community-driven project and is entirely open-source, run by community-led nodes. Since the coin does not incentivize running a node, it promotes proper decentralization, making RVN a good buy now. However, the project does not have a well-established team or development foundation. But thanks to RVN’s potential value, it has gained financial support from crypto enthusiast and Overstock CEO Patrick Byrne.
Factors That Drive Ravencoin To Be A Millionaire-Maker Coin
Apart from asset management and digitization, several features back up the prediction that Ravencoin could be a millionaire-maker coin. Here are some of them.
Ravencoin’s Unique Mining Algorithm
Ravencoin has some significant similarities with Bitcoin, especially in the case of its Proof-of-Work consensus mechanism. But the token uses a particular hashing algorithm to enable the creation and transaction of tokens on the network quickly and securely.
Ravencoin uses a unique hashing algorithm known as the X16R. It allows more decentralized mining than Bitcoin's SHA-256 algorithm. Specifically, the X16R algorithm makes the mining process more profitable for industrial-scale operations than for individuals. This makes the network more secure, unique, and efficient for its purpose, making Ravencoin one of the top altcoins to buy right now for good returns.
RVN’s Real-World Use Cases
One significant reason to buy RVN now for future returns is its array of applications and use cases. RVN can be used to issue tokens that represent real-world assets like rewards, gold, shares of stock, virtual goods, and several other variances. Moreover, users also have the opportunity to create non-fungible tokens (NFTs) on Ravencoin with the help of an RVN wallet platform called MangoFarmAssets. Since NFTs are a booming sector in the crypto space today, the price of RVN could significantly rise in the coming years, making it a good buy.
Apart from this, Binance Smart Chain offers a tokenized version of RVN which can be used for borrowing, trading, and lending in decentralized finance (DeFi) applications. However, Ravencoin’s unique design as a Bitcoin-based network allows users to launch and trade tokens. This is an interesting option for enterprises and industries that require a digital token, specifically for asset transfer, and will eventually boost RVN’s adoption rate.
Moreover, the coin’s digital asset custodian capabilities have attracted huge interest, which is one key feature why Ravencoin could be a long-term investment option for investors. For instance, Hydra Chain technologies, a prominent real estate developer, has recently launched its tokenized single-family houses on the Ravencoin blockchain platform. It has partnered with DigiShares, a provider of end-to-end white-label solutions to tokenize residential properties in Wisconsin.
The CEO of DigiShares, Claus Skaaning, said, “We are very pleased to work with Hydra Chain Technologies as it has facilitated our expansion into the world of Ravencoin. The Ravencoin blockchain has high performance and low gas fees, and it lends itself well to tokenization and security tokens. We look forward to expanding our platform to support Ravencoin and look forward to the collaboration”.
More Energy-Efficient Than Bitcoin
It is worth noting that Ravencoin is more energy-efficient than BTC since it can be scaled 1000 times the capacity and block reward of Bitcoin. This makes Ravencoin an excellent long-term investment option for investors. Also, it is ten times faster than BTC and has a reduced block time by just 1 minute.
There are even more reasons to buy RVN now. The coin had no ICO when it was initiated and started without a pre-mine. It is focused on asset management, which makes RVN a unique and efficient cryptocurrency.
Token Issuance
Yet another feature that makes Ravencoin one of the best altcoins to buy right now is its token issuance. A user needs to burn a certain amount of RVN coins and give a unique name for their token in order to create a new crypto asset.
The noteworthy feature is that upon creation, the issuer has the power to define unique characteristics for their token. For example, they can assign specifications like the number of tokens issued, the number of decimal places in which it might be fractioned, fungibility, and many others.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Could Ravencoin Be A Millionaire-Maker Coin?
Several assets can be tokenized on this unique network, making Ravencoin a good buy for future returns. Assets like land deeds, jewellery, art, cars, boats, gold bars, and silver coins are examples. As a result, the price of RVN saw a colossal increase in 2021, hitting a record high of $0.2854 in February.
The team claims that the project is only in the third stage of its six-stage plan, and thus this is the best time to buy RVN for future returns. With more exciting development and upgrades to its network in the coming years, the price of RVN could rise significantly, making it a millionaire-maker coin. Several expert forecasts predict that if the team continues to keep its momentum, RVN could be the best long-term investment option for investors to make a fortune in the future.
The Bottomline
Ravencoin boasts of all the critical properties of being a potential crypto project in this innovative market. Since the project aims to offer an efficient and hassle-free trading platform with an array of real-world applications, Ravencoin could be a millionaire-maker coin in the future for investors.
Several upgrades might be fast approaching this unique cryptocurrency which will eventually boost the price of RVN. Henceforth, it is best to buy Ravencoin now since its future appears to be highly promising.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
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