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      Ravencoin – price prediction to $0.48 - Stocks Telegraph

      By Muskan

      Published on

      September 3, 2021

      8:17 AM UTC

      Ravencoin – price prediction to $0.48 - Stocks Telegraph

      Ravencoin started off the year with a price level of $0.013. The cryptocurrency had not been able to cross $0.07 previously; however, the bull run of 2021 helped the cryptocurrency reach new highs. Ravencoin established a new all-time high at $0.28. The price fell drastically as the market crashed. The bullish trend in the market has reversed some of the losses the cryptocurrency faced during the crash. At the time of publication, RVN coin stands at $0.136. The price of the cryptocurrency has started moving downhill once again. The on-site metrics indicate a fall in the technicals of the cryptocurrency. 

      What is Ravencoin? 

      Ravencoin is a fork of the Bitcoin code. Being a fork of Bitcoin, it employs a similar code but with added functionalities. It essentially combines the technologies of the king and the queen of the market – Bitcoin and Ethereum. The platform is designed to enable users to issue tokens. Other than that, the network also has the capability of smart contract issuance like Ethereum. As a result, Ravencoin makes the issuance and transfer of asset easier. 

      Ravencoin’s consensus mechanism highlights its decentralization and security. Although it employs a Proof-of-Work mechanism similar to Bitcoin’s, Ravencoin utilizes a special hashing algorithm which sets it apart. The hashing algorithm called X16R allows more decentralization than Bitcoin’s. Moreover, the hashing algorithm also makes mining of RVN coin more accessible and; hence, more decentralized. Bitcoin can only be mined through specialized computer hardware called ASICs. The computer hardware requirement for Bitcoin mining restricts mining to industrial-scale operations which leads to mining becoming centralized with a few parties in control. 

      RVN price prediction

      Ravencoin is considered an outstanding long-term investment with good potential. Although the market has been flooded with altcoins that employ more advanced technologies, Ravencoin has a strong footing in the market. It stands at 84th rank in term of size with a market capitalization of $1.3 billion. The platform also offers high level of decentralization after it broke up ties with the firm that launched it – Medici Ventures. Currently, anyone can propose changes to the network or code. This makes the cryptocurrency an interesting alternative to many altcoins that offer compromise on decentralization in favor of other functionalities as decentralization remains to be the major attraction of cryptocurrencies. 

      Ravencoin’s future potential is backed by many sources which fives a bullish price prediction. According to the estimates of Wallet Investor, RVN coin will be trading hands at $0.20 in a year’s time while the price is expected to reach $0.487 in five years’ time. Digital Coin Price is also bullish on the cryptocurrency predicting a price level of $0.48 by 2026. 

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