Ravencoin has joined the crypto market in early 2018 as a BTC fork, which essentially means that the RVN developers made some alterations to the Bitcoin protocol and added new features to the original blockchain.
The project’s team has announced that its key goal is to bring blockchain into everyday life and to make it available to ordinary people worldwide.
The name “Ravencoin” stems from the Game of Thrones, where the raven symbolised a mysterious bird that always brought truth and justice. Similar to a raven in this popular TV series, Ravencoin always stands for truth and transparency with the help of innovative technologies.
Ravencoin has developed an interesting and very successful idea to the crypto sector, and the dedicated team is constantly broadening the project’s performance.
The RVN token keeps conquering the industry and has already been approved by the top crypto platforms, such as Poloniex and Binance.
The competition in such a rapidly developing industry is tough but Ravencoin has taken its well-deserved spot in the digital world.
Ravencoin is built on the innovative Unspent Transaction Output technology or UTXO. It indicates the total amount of cryptocurrency left after a user has successfully executed a crypto operation.
From a technical perspective, the RVN platform uses the PoW algorithm, which is also used in Bitcoin. Ravecoin halving, that is, a halving of the RVN reward that miners receive for successfully completing a new block, occurs once every four years.
Ravencoin aims to be the most transparent and decentralized platform for crypto trading. Thus, it does not have master nodes and large-scale mining is instantly banned.
The network does not allow ASIC mining, which usually monopolizes the mining process and seriously undermines the decentralisation efforts.
As distinct from the ERC-20 coins, new tokens on the Ravencoin platform cannot have the same ticker and are secured from accidental destruction.
Everyone can develop a unique token within minutes and trade them with other platform users. The project is also well-recognized for its openness and transparency.
The Ravencoin developers do not invest their personal funds, do not pre-mine the platform’s native tokens and stay open about the project’s plans and ambitions.
This digital coin has an open-source code that allows everyone to participate in the cryptocurrency’s development and improvement.
The platform also has an innovative Messenger which enables quick and simple communication between the RVN users. All exchange of information and financial operations are 100% private and confidential.
Ravencoin wallet setup
Users can download a RVN wallet from the cryptocurrency’s official website. To install a full node:
- Download the wallet software and launch the setup process;
- It is necessary to have at least 5 GB of free space on your device for the wallet to be successfully downloaded;
- Wait when the synchronization starts;
- It is essential to encrypt your newly registered wallet with an intricate pass and security sentence or word or set up a backup. You can find the wallet by following the address.
The Ravencoin site sets up a new wallet with the help of registration credentials which were indicated by a user.
Users also get a special address that enables them to send crypto and review the history of operations in just one click.
A RVN customer is allowed to set up multiple wallets using the same registration details, but a new parole.
The platform is not authorised to keep and manage any customer-related information, so every user is responsible for remembering their own usernames and other important information.
There are many different multicurrency wallet services, which support Ravencoin.
The most well-known ones include Eхodus, Edgе, Atоmic Wаllet, Guаrda, tZеro, Coin Paymеnts, Trust Wallet, Zelcore Wallet, and many others.
Ravencoin can also be securely kept in hardware wallets, such as Trezor. It is possible to print out a paper code for offline storage of RVN with the help of a special key creator.
It is not recommended to keep a RVN paper wallet in a PDF file, because in this case, the wallet becomes vulnerable to attacks and hacking attempts.
To replenish your digital wallet, give the public address to the person you wish to receive coins from. You can always monitor the funds remaining in the wallet with the help of a blockchain browser and initiate a new crypto operation with the specialised Raven Core software.
Prior to adding new funds to your paper wallet, transfer some tokens and ensure that the wallet is replenished.
Trust Wallet is an innovative digital wallet that supports multiple virtual currencies.
It enables users to simultaneously manage several cryptocurrencies from their mobile app.
The project was established in late 2017 by a developer Viktor Radchenko.
Next year, the platform was purchased by the founders of Binance, which positions itself as a well-known cryptocurrency platform.
These days, the Trust Wallet is a part of the Binance architecture and its official wallet. Trust Wallet, which was acquired by Binance, now supports a variety of decentralized exchanges. Initially, the wallet only supported Ethereum and ERC-20 tokens.
Users can now exchange their digital money on various marketplaces without having to work with dedicated order books.
The list of digital coins is constantly adjusted: the coins in demand are added to the Trust Wallet listing, and those that are losing popularity are removed from the list.
The wallet supports more than 44 cryptocurrencies, including Ravencoin. Also, if necessary, users can add their own cryptocurrencies using the “add token” field.
Coinpayments, Inc. focuses on cryptocurrency-related operations and transactions.
This company created coinpayments.net, a service that represents both a crypto trading platform and a mobile wallet for virtual currencies.
Based in Vancouver (Canada), Coinpayments was launched in 2013.
Its business model prioritizes prospective investors and crypto traders. Coinpayments wallet is well-known for its user-friendly design and a variety of useful features.
Users can easily access their mobile wallets, make cryptocurrency-related transactions, and receive payments.
Coinpayments wallet also has a mobile version which is available on devices with Android and Apple operating systems.
Coinpayments is also a business-friendly wallet, which means that businesses can use this service to easily accept BTC and over 1 700 other digital tokens, including Ravencoin. In addition, users can access a variety of easy-to-use POS interfaces, APIs, and website plugins.
The idea of launching Exodus belongs to the Richardson brothers.
Launched in 2016, the wallet became incredibly popular among professional traders and ordinary users.
Exodus is a well-designed wallet with numerous attractive features and an easy-to-understand interface. Originally Exodus was designed for novice users, who do not have extensive experience of trading and storing cryptocurrencies.
However, it is also widely used by professional traders and cryptocurrency enthusiasts who are interested in a trusted, transparent and user-friendly wallet for their funds.
The Exodus project offers various advanced mechanisms to keep the wallet secure. For example, users’ keys are generated and encrypted in just a few seconds and kept on their PC or mobile gadget.
Only users can manage the wallet information and make important decisions. If necessary, the keys can be reached through the “Settings” button.
An advanced backup technology protects encrypted information, which can be exclusively accessed by users. Exodus also offers 24/7 high-quality technical support, which helps to solve all arising problems within one day.
Edge is an innovative decentralized wallet that supports numerous virtual coins, including Ravencoin.
The Edge Wallet is well-known for its high-security standards and decentralisation values.
The wallet brings true financial autonomy and privacy to its users, which essentially means that neither Edge nor third parties can access users’ funds or data without users’ permission.
What is more, the wallet works even if the Edge servers are down due to its decentralized server architecture. Instead of simply scanning QR codes, Edge offers advanced Bluetooth Low Energy support for transferring funds.
Users can also easily set up an account using just their login and password. The wallet does not require printing or emailing additional confirmations, recording passphrases or adding encryption settings, which makes the registration process easier and faster.
Among other interesting Edge features – automatic wallet encryption, multi-device backup, and sync.
Launched three years ago, Guarda became a well-established crypto wallet that focuses on positive user experience, transparency, trustworthiness, and openness.
Guarda is an advanced crypto wallet that enables traders to monitor their cryptocurrencies from any gadget which has a stable connection with the Internet.
Guarda is a popular choice among professional traders and crypto investors due to its innovative ecosystem and understandable design, which makes the process of transferring digital currencies easy and fast.
The wallet also has a separate option for purchasing virtual currencies using a bank card through the Simplex service.
In addition, Guadra also offers a crypto platform that enables customers to exchange their funds with no additional restrictions.
Guarda never saves keys of digital currencies or user’s personal information which can be hacked.
The Guadra wallet has various advanced features and great functionality, which attracts a great number of new customers, including those Ravencoin users who want to secure their funds.
Disclaimer: Please keep in mind that the content of this article is not financial or investing advice. The information provided is the author’s opinion only and should not be considered as direct recommendations for trading or investment. Any article reader or website visitor should consider multiple viewpoints and become familiar with all local regulations before cryptocurrency investment. We do not make any warranties about reliability and accuracy of this information.