Ravencoin (RVN) is a revolutionary Blockchain network that streamlines the creation and transfer of digital assets representing real-world entities. Users have the ability to mine using their CPUs and generate unique coins with specific attributes. Furthermore, the platform enables communication and reward distribution among RVN coin holders. This article aims to address two common inquiries: What is Ravencoin (RVN), and how can one acquire Ravencoin (RVN) using Turkish Lira (TRY).
Overview
Ravencoin is a blockchain software that incentivizes a computer network to support the generation and transfer of distinct cryptocurrencies. Unlike traditional digital currencies, Ravencoin is designed to embody tangible assets such as securities, collectibles, precious metals, event tickets, and even loyalty points. Initially created as an open-source fork of Bitcoin, Ravencoin’s development team modified Bitcoin’s codebase to establish a platform with unique features and objectives.
Key Features
Ravencoin offers users the ability to issue personalized assets on its network, boasting attributes like one-minute block times, a block reward of 5,000 RVN coins, and a capped supply of 21 billion RVN. The platform utilizes a consensus mechanism akin to Bitcoin’s Proof of Work (PoW) method to secure its network, allowing users to mine using their CPUs without specialized hardware.
Distinct from Bitcoin, Ravencoin has established its own set of network rules, asset characteristics, and protocol guidelines. Adjustments have been made to encourage asset creation and enhance communication among coin holders. Ravencoin employs a modified version of Proof of Work called KAWPOW, designed to democratize mining and broaden participation in network security, transaction validation, and RVN distribution.
To introduce a new cryptocurrency on Ravencoin, users must “burn” (destroy) a specific amount of RVN coins and assign a unique name to the new coin. During this process, issuers can customize attributes like total supply, decimal places for fractionalization, and fungibility. Coin creators have the option to reward coin holders with RVN, enabling dividend payouts or community incentives.
Moreover, Ravencoin includes a messaging feature that enables coin issuers to communicate with coin holders, particularly when voting is required for proposals. As RVN coins are transferable, holders can delegate voting rights to other users or sell their stakes within a community.
Acquiring Ravencoin (RVN) with TRY
Binance TR is the optimal cryptocurrency exchange for Turkish investors seeking to purchase Ravencoin (RVN). With over 100 cryptocurrencies available for trading, including RVN, Binance TR offers a user-friendly platform for quick account creation. Follow the steps below to buy Ravencoin (RVN) with TRY on Binance TR.
Account Creation on Binance TR
Opening an account on Binance TR is straightforward. Visit trbinance.com and proceed to create an account by providing basic information such as email address, phone number, name, birthdate, nationality, and T.C. identity number. Verify the information through email/SMS verification and move on to identity verification (KYC) to complete the account setup.
Identity Verification on Binance TR
Identity verification is a crucial security measure required before engaging in cryptocurrency trading on Binance TR. Complete the verification process using your mobile phone through the Binance TR website. Scan the QR code with your phone’s camera and follow the on-screen instructions for document submission and selfie verification to finalize the process.
Depositing TL on Binance TR
Easily deposit Turkish lira into your Binance TR account from various banks, including Vakıfbank, Ziraat Bankası, İş Bankası, and more. Follow the deposit instructions on trbinance.com to seamlessly transfer funds to your Binance TR account for trading.
Buying RVN Coin with TL on Binance TR
After depositing funds, navigate to the “Buy-Sell” section on the Binance TR website to purchase RVN coins using Turkish lira. Input the desired price and quantity of RVN coins, then complete the purchase by clicking “Buy RVN.”
About Binance TR
Binance TR, launched in 2020, is the Turkish arm of Binance, the world’s largest cryptocurrency exchange. Offering fiat-to-crypto and crypto-to-crypto trading services, Binance TR leverages Binance’s technology, security measures, and liquidity to provide a seamless trading experience for Turkish users. Access market-leading liquidity, advanced security features, and various trading pairs with Turkish lira through Binance TR.
Disclaimer: The information provided in this article is not investment advice. Investors should be aware of the high volatility and risks associated with cryptocurrencies and conduct their own research before trading. Stay updated on technology news through NEWSLINKER and our social media channels.
