Halving Ravencoin (RVN)
Halving Ravencoin (RVN)
In simple terms, halving is the halving of the reward for miners for mining cryptocurrencies. Halving procedure is provided in many blockchain networks based on Proof-of-Work protocol. It is an important component of the "life cycle" of digital currencies based on these networks. It is in this article that we will look at Ravencoin cryptocurrency halving, but you can read more about cryptocurrency halving on our website.
Ravencoin Halving. Ravencoin is based on an open-source version of the almighty Bitcoin blockchain – in other words, the RVN developers modified the bitcoin code to suit their purposes and needs. Ravencoin is based on a form of cryptocurrency mining also known as Proof-of-Work (PoW). In order to mine RVN, miners must use their computers to solve a series of progressively more complex mathematical problems. To briefly answer the question of what Ravencoin cryptocurrency is, the idea was to allow each user to issue their own cryptocurrency tokens. RVN's protocols, its creators claim, are designed to help decentralize finance. One of the ways that the Ravencoin cryptocurrency supports decentralization is that the token does not use nodes or computers that help the processes associated with RVN. Unlike many networks, RVN cryptocurrency does not.
The reward for a block of Ravencoin at the end of last year was 5,000 RVN. After halving in January 2022, the reward per block was halved from 5,000 RVN to 2,500 RVN. Halving Ravencoin will take place until the amount of reward equals zero. Why RVN Halving is needed Generally accepted fiat currencies allow the government and banks to print money, which leads to inflation. In the case of the Ravencoin, the total will be limited to 21,000,000,000 RVNs. Thus, the value of Ravencoin should rise as demand increases (more people will start using RVNs) and the supply will fall or remain unchanged (no more Ravencoin will be minted). How many days is 2,100,000 blocks 2,100,000 blocks = 1458.33333 days What will happen to the Ravencoin exchange rate
The same thing will happen that happens when the production of any popular good is halved – the price will go up. There is also a high probability that the price will increase twofold or even more. That is, buying Raven can be very profitable in the long run. Ravencoin cryptocurrency prospects Ravencoin is a relatively young project, it was launched on January 3, 2018. The coin is a fork of Bitcoin, which means that the code of the main cryptocurrency was used to create it. By naming the coin after a raven, the developers were inspired by the "Game of Thrones" series. In it, birds act as messengers of truth. Ravencoin also stands for truth: Raven's blockchain confirms ownership of a certain asset. Ravencoin differs from Bitcoin in its mining algorithm – here it is X16R, not SHA256. The coin's network is protected from ASIC miners that threaten the decentralization of projects. The openness of the developers is also important: they don't hold their own funds for funding, they don't send a certain percentage of new coins there and they haven't mined RVN before the project launch. The project has a very active community on Discord.
If you want to be a part of this project, check out the Ravencoin community on Discord. Ravencoin started as an experimental project, and since it is completely open, anyone is free to suggest ideas or contribute. Ravencoin has brought a new and very promising technology to the crypto industry, and the developers are gradually expanding the functionality of the platform. The coin is successfully penetrating the market. It is true that now the competition in the blockchain industry is fiercer than ever before, so the future of Ravencoin largely depends on the marketing policy of the company.