Urgently update Ravencoin!
It was this statement that the developers of this cryptocurrency made, who found a vulnerability in the project code. According to the creators of the coin, the only solution to the problem is the urgent installation of a new version of the Blockchain crypto. The updated version introduced the appropriate changes to help users safely use their favorite coin and not worry about the safety of their own funds. So be sure to update the Ravencoin Blockchain and read the information below about the causes of errors. Next, we will explain why and how the problem appeared. So let’s get started.
A little bit about the project
This section may be skipped by those who already successfully use Ravencoin and know everything about cryptocurrency. For everyone else, it will be useful to learn more about this wonderful cryptocurrency. Ravencoin took a lot from the first cryptocurrency. Some features of the project are really similar to Bitcoin, for example, the procedure for carrying out a halving. Mining rewards also decrease once every four years. Apparently, the developers of Ravencoin also believe that the crypt should be optimized every 4 years. In addition, there are similarities in pricing. The price tag is not fixed, the price directly affects the level of supply and demand on Ravencoin. The internal token of the RVN project is characterized by fairly stable operation, security and other advantages. A reliable coin, however, is vulnerable to hacker attacks. Like any other coin.
What is the cause of problems with Ravencoin?
An update is necessary because the problem with the internal code of the coin negatively affected the release of new coins. The problem appeared inside the Blockchain, because of this one block issued a lot more coins than anticipated. Thus, hackers were able to speed up the system and make money on cryptocurrency inflation. Coins have already entered the trading floors, therefore, it will not work to return or remove digital assets. This is a big problem, because, in fact, crackers have remained untouched. However, hackers will most likely not escape the harassment. Representatives of the company have already stated that the police took up the illegal receipt of cryptocurrency. A pending investigation and, possibly, compensation for the damage suffered by the enterprise.
Consequences and precautions?
After the update, the system will take time to start stable operation and fully recover. This is evidenced by both simple logic and the coin developers themselves. Experts emphasized that for now, one should refrain from active transfers using RVN. The fact is that, when performing an operation with a crypt, you can get the very coins that appeared as a result of hacking. As a result, you also run the risk of being accused and proving your company’s innocence with hackers. No one needs extra trouble. Negotiations with exchanges are already underway. Ravencoin company and representatives of trading floors have to decide what to do with extra coins. Perhaps business partners will come to an agreement and be able to remove excess currency without harming ordinary users.
However, the company emphasized that hacking the platform did not affect the privacy and financial well-being of users. But mining and further interaction with the crypt without updating is impossible. That is why we once again urge you to update Blockchain soon to fully enjoy the use of Ravencoin. Follow all the news of the crypto industry with us. We publish only high-quality and unique material. Thanks for your attention. Good luck!