Ravencoin (RVN) operates as a Blockchain network that streamlines the generation and transfer of digital assets representing tangible real-world assets. Through CPU mining, users have the ability to create unique coins, along with enabling communication and reward allocation among RVN coin holders. This piece aims to address two common queries: What exactly is Ravencoin (RVN), and how does one purchase Ravencoin (RVN) using TRY?
Overview
Ravencoin (RVN) stands as a blockchain system that encourages a network of computers to facilitate the creation and transfer of distinctive cryptocurrencies. Unlike many other digital currencies, Ravencoin is specifically crafted to represent real-world assets such as securities, collectibles, gold, event tickets, and even airline miles. It debuted as an open-source derivative of Bitcoin’s codebase, where the development team copied and modified Bitcoin’s original code to construct a platform with unique features and objectives.
Unique Features
Ravencoin boasts several key features, including the ability for users to issue personalized assets on its network. This incorporates unique attributes such as one-minute block times, a 5,000 RVN coin block reward, and a maximum supply of 21 billion RVN. While Ravencoin utilizes a consensus mechanism akin to Bitcoin’s Proof of Work (PoW) to secure its network, it allows any user to mine using their CPU, eliminating the need for specialized hardware.
Furthermore, although Ravencoin’s code is derived from Bitcoin, it establishes its own distinct network, asset, and protocol regulations. Adjustments have been made to promote asset issuance and enhance communication among users holding specific coins within its network. Ravencoin employs a variant of the Proof of Work consensus mechanism known as KAWPOW, designed to reduce the barriers to entry for mining, thus allowing more users to partake in securing the network, validating transactions, and distributing newly minted RVN.
Asset Issuance
To create a new cryptocurrency on Ravencoin, a user must burn (destroy) a specific amount of RVN coins and assign the coins a unique name. During this process, issuers can define specific attributes such as the total supply, the number of decimal places for fractionalization, and whether the coin is fungible. Coin issuers can also distribute RVN rewards to coin holders, facilitating the distribution of dividends or the creation of incentives within a community or organization.
Messaging Feature
Ravencoin also incorporates a messaging feature that enables coin creators to communicate with coin holders. This feature proves particularly beneficial for notifying specific holders when voting is required for new proposals. Since all RVN coins are transferable, coin holders can delegate their voting rights to other network users or sell their stakes within a community if desired.
Purchasing Ravencoin (RVN) with TRY
Binance TR emerges as the most suitable cryptocurrency exchange for investors in Turkey seeking to acquire Ravencoin (RVN). Over 100 cryptocurrencies, including RVN, are available for trading on Binance TR, where setting up an account is a straightforward process. To purchase Ravencoin (RVN) with TRY on Binance TR, follow the steps outlined below.
Opening an Account on Binance TR
Creating an account on Binance TR is a simple task. Visit trbinance.com and proceed with the “Create Account” step. You will be prompted to provide basic information such as your email address, phone number, name, date of birth, nationality, and T.C. identity number.
Verification Process on Binance TR
Identity verification on Binance TR is a necessary security measure that must be completed before engaging in cryptocurrency trading. This process is crucial for safeguarding both the user and the cryptocurrency exchange. You can opt to complete the verification process using your phone or through Binance TR’s official website.
Depositing TL on Binance TR
Depositing TL into your Binance TR account from various banks is a seamless process. Transactions can be carried out 24/7 from banks such as Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, and Türkiye Finans. Deposits up to 50,000 TL can be made round the clock with FAST from other banks, while deposits exceeding 50,000 TL from other banks are processed during EFT hours.
Buying RVN Coin with TL on Binance TR
Following the deposit process, you can proceed with purchasing RVN coins using TL by accessing the “Buy-Sell” option on the top left menu of the Binance TR website.
Binance TR Overview
Binance TR, launched in 2020, is the official platform of Binance, the world’s largest cryptocurrency exchange by trading volume, catering to cryptocurrency investors in Turkey. Binance TR leverages Binance’s technology, security measures, and liquidity to offer fiat-to-crypto and crypto-to-crypto trading services. Users in Turkey can effortlessly deposit and withdraw Turkish lira (TRY) through bank channels and trade various cryptocurrencies with TRY trading pairs via Binance TR.
Disclaimer
The information provided in this article does not constitute investment advice. Investors should be aware of the high volatility and risks associated with cryptocurrencies and conduct thorough research before making investment decisions.
