The Ravencoin and Shiba Inu cryptocurrencies have been generating a lot of interest in the market lately. We will tell you what Ravencoin and Shiba Inu are, how they work, and whether it is worth buying any of them.
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 goals 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 increasingly complex mathematical problems.
In short, to answer the question of what is Ravencoin cryptocurrency, the idea was to allow each user to issue their own cryptocurrency tokens. RVN protocols, according to its creators, are designed to help decentralize finance. If you are interested in converting RVN to SHIB, read on to find out more about their strong and weak sides.
Despite the fact that Ravencoin uses Proof-of-Work to create new coins and verify transactions, it does not exactly replicate the Bitcoin methodology. As the computations required to mine Bitcoin become more complex, the process requires a lot of power. This, in turn, requires more power-hungry computers, which makes Bitcoin mining unaffordable for users who cannot afford to buy expensive hardware.
The RVN mining algorithm, called KAWPOW, aims to get around this problem by leveraging the memory of a graphics processing unit (GPU) and the computing power of conventional computers, which its creators hope will allow most people to mine Ravencoin.
There are other differences between BTC and RVN algorithms. For example, the block time (one minute), value, and the RVN supply (21 billion) are fixed. These factors indicate that the Ravencoin cryptocurrency is a unique project and not a simple fork of Bitcoin. You will find more details about other cryptos worth your attention on the Alligat0r platform. For instance, visit it to find out the recent COTI price.
The Shiba Inu company has a so-called woof paper — a parody of white paper, but with a woof. It tells about the “mission” of the cryptocurrency. The developers wanted the project to be 100% community-driven. Its founder Ryoshi said Shiba is a spontaneous experiment in the world of decentralized assets. No one could imagine that this concept would become the beginning of evolution.
There are more than 120 thousand people in the Shiba Inu Army. One of the things that the company boasts of is that the Shiba Inu coin allows investors to be truly decentralized.
Perhaps. Now the coin is setting records in value and the overall market is bullish. However, some analysts believe that SHIB is a speculative instrument with nothing behind it. In any case, before you invest money in cryptocurrency, carry out research on the asset.