CRYPTO NEWS

How to mine Ravencoin?

After many breaks, the Ethereum merge finally occurred. Ethereum is now successfully shifted from PoW to PoS. Yet, not everyone is convinced of the action of proof-of-stake. Some Ethereum miners could break off and form their network via a hard fork or some miners are already pushing to mine Ravencoin after ETH merge. This article is all about how to mine Ravencoin. Let’s take a look at it in more detail.

What is Ravencoin?

Ravencoin is a token that is mined on simple GPU and ASIC miners. It was forked from the Bitcoin chain in 2018. The coin offers traders a pathway to create their tokens and disseminate them to other traders. The developer’s objective was to create a token that could be mined by employing just the GPU of PCs.

Ravencoin uses the KAPOW mining algorithm

Ravencoin’s distinction from Bitcoin is mainly the consensus mechanism behind its design. The consensus mechanism is defined as how transactions concluded are added to the blockchain. Ravencoin uses the proof of work consensus mechanism. Even though it now employs the KAPOW mining algorithm, the token earlier employed X16R. With the KAPOW mining algorithm, the mining software to be employed is randomly picked.

How to mine Ravencoin?

— Leon Ravencoin 🅁🅅🄽 ₿ (@leon_texas)

  • Download the Ravencoin wallet from <a href="https://github.
  • Now, choose a pool from the  page. The important thing to remember here is that mining rewards should average over time. Please consider pointing your miner(s) at smaller pools to circulate the hashrate and enhance network health/security. 
  • Next, . Selecting a pool near your geographic location is recommended.
  • Now, download a GPU miner.
  • Now, extract the kawpowminer folder, there is no .bat file contained, so we’ll have to make one ourselves. 
  • So, create a text-file, and rename it to RVN.bat (make sure it’s not RVN.bat.txt. 
  • Finally, Edit the recently created .bat (right-click the file and pick edit).
  • This text will be displayed: “kawpowminer -U -P stratum+tcp://<WALLET_ADDR><.WORKER><:PASSWORD>@HOSTNAME:PORT pause “
  • Now, replace values in <> with yours. Worker and password are not mandatory. Remember that for AMD utilize -P rather than -U. Now, apply the hostname and port that your pool supplied you.
  • Now, double-click “RVN.bat” in the kawpowminer folder. You will see a scrolling text (and your GPU(s) will discharge some heat and noise). If your configuration is right, you will notice your hashrate shown in Megahash per second (MHs). Else, any errors will show and you must reconfigure properly.

 List of pools for Ravencoin

  • Cruxpool
  • HeroMiners
  • BSOD.PW
  • MinerMore
  • Suprnova
  • 2miners.com
  • WoolyPooly
  • RavenMiner
  • Nanopool
  • K1Pool
  • flypool.org
  • hashcity.org

Luna Classic Adds Over 50% In 24H After Interpol’s Red Notice Slammed Its Price

Early hours of Monday, September 26, Interpol issued a Red Notice against the founder of Luna Classic, DO Kwon. This issuance resulted from Do Kwon losing more than $60 billion in investors’ wealth.  The prosecutors in South Korea explained that Kwon is facing charges for the erosion of investors’ money. In addition to his charges,::Listen

Early hours of Monday, September 26, Interpol issued a Red Notice against the founder of Luna Classic, DO Kwon. This issuance resulted from Do Kwon losing more than $60 billion in investors’ wealth. 

The prosecutors in South Korea explained that Kwon is facing charges for the erosion of investors’ money. In addition to his charges, Do Kwon stands accused of violating the ‘Capital Markets Law,’ with multiple breaches cited. 

Related Reading: Bitcoin Shows Resilience In Dollar-Driven Bloodbath | BTCUSD September 26, 2022

This issue has created conversations in the crypto market regarding the future of Terra firm and the algorithmic stablecoins. This article details events surrounding Do Kwon and how he made it into Interpol’s most wanted List. 

Earlier Developments Leading To Kwon’s Red Notice 

Earlier this year, the Terra ecosystem collapsed, unheard of in an evolving Defi space. The crash hurt the crypto market, with other financial markets feeling its effects. Crypto Analysts believe that investors lost over $45 billion in wealth. 

After the crash, he relocated Terra Headquarters from South Korea to Singapore due to being under investigation for tax evasion charges in South Korea. In an interview, the Terra founder said he would cooperate with investigative agencies in the Terra crash and has nothing to hide. Further, Do Kwon acclaimed that he is a man with an “extremely high bar of integrity.”

However, South Korean prosecutors explicitly refute Do Kwon’s statement claiming he was not cooperating and was obviously on the run. As a result, Interpol has issued a Red Notice on the Terra founder in over 196 countries.

LUNC’s price is currently hovering around $0.00031. | Source: LUNCUSD price chart from TradingView.com
Terra Classic Price Crash And Reversal

Following the news of Interpol’s Red Notice on Do Kwon, the downtrend price of Terra Classic continued. Taking effect of the notice, the $LUNC price declined by nearly 20% immediately after the news, leaving investors disturbed. 

The crash of the Terra Classic token has also led to the collapse of a high-profile crypto hedge fund called Three Arrows Capital. This issue has also impacted several crypto lenders offering LUNC in the market. 

But unexpectedly, the $LUNC has reversed in price action as there is an uptrend in the price. Per coinmarketcap.com, LUNC has gained over 50% in the last 24 hours and currently trades at $0.0003074. Investors should be wary as it could lead to a classic pump and dump scheme. The crypto community awaits further development in price as the search for Do Kwon intensifies.

What Is The Future Of LUNC

A spokesperson for South Korea explained that the Red Notice against Kwon would set a wrong precedence for the crypto industry and may cripple future innovations in the market.

Related Reading: Avalanche Struggle To Break Downtrend, Is $20 Mark Possible?

The collapse of Terra stablecoin will lead to greater regulatory scrutiny in the crypto market. Reports from last week indicate the House of Financial Services Committee has issued a bill introducing a two-year ban on creating and issuing algorithmic stablecoins like Terra. 

Featured image from Pixabay and chart from TradingView.com

How to mine Ravencoin?

Shopping cart
There are no products in the cart!
Continue shopping
0