One of the most important titles in the first quarter of this year was cryptocurrencies. Major events such as Bitcoin’s sudden rise were enough to attract investors’ attention. Cryptocurrency market It is constantly monitored by investors. Ravencoin, one of the crypto currencies that has attracted attention recently, is very talked about with its ongoing rise since last week. Well, after his rise, his name is often heard What is Ravencoin?
What is Ravencoin? How did it come about?
The project, which first debuted in 2017, announced its name on June 3, 2018 with the creation of the mining system. Ravencoin, which has been the focus of investors with its recent rise, has gained more than 37% in the last 7 days. In essence A fork of Bitcoin Ravencoin is active on ERC-20 protocols. The important difference of this crypto currency from Bitcoin is that the hash system is different. XR-16 mining algorithm using it reveals a complex system.
Prioritizing its users security The promise attracts the attention of digital asset investors. The ability to mine is also a feature that attracts the attention of crypto money miners. The fate of a cryptocurrency whose acronym is RVC on the market you don’t know what will happen. But what is certain is that it has made its investors big money.
What is the XR-16 mining algorithm?
As the name suggests XR-16 algoritmasında 16 different algorithms are used, not a single algorithm. None of these algorithms have been developed by Ravencoin. All of them are made up of algorithms of different cryptocurrencies. The complex structure resulting from this system is a positive detail in terms of security.
How is it different from other cryptocurrencies?
We talked about Ravencoin’s digital asset creation and the ability to trade. Thanks to this advantage all real or virtual objects You can save it in the blockchain system. Today, this currency is in demand as people want to move their assets to a decentralized environment. With Blockhain, it is a very innovative step that we can pass digital evidence of assets to others after we can transfer money to someone else.
For example, you bought a flight ticket from an airline company, if this information is sent to you via channels such as e-mail or SMS, it becomes available to those who have access to the channel. But if the information of your ticket is transmitted via Ravencoin encrypted No one else can see the information except you. This means maximum security.
However, the idea of storing all assets with the blockchain logic is still very new, so the steps we mentioned will only be implemented in the future.