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About Rakon
Key Points:
- Rakon is a blockchain-based network connecting infrastructure, satellites, and navigation systems.
- RKN is the token powering the Rakon ecosystem, used to execute smart contracts.
- Rakon is expected to launch in Q4 2020.
- Founded by Orbit Network Inc. through its subsidiary Blockchain Development Inc.
- Rakon integrates blockchain-based smart contracts into industries like GPS, telecommunications, defense, and IoT.
- First use case is in telecommunications, partnering with firms in the US, Canada, India, Turkey, and the UK.
- Fixed maximum supply of 285,714,286 RKN tokens.
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About Rakon
Rakon is a pioneering force in the realm of cryptocurrency, dedicated to fostering a thriving ecosystem that empowers individuals and institutions alike to harness the vast potential of digital assets.
Introducing Rakon (RKN): A Comprehensive Overview
Rakon is a blockchain-based network meticulously designed to interconnect infrastructure, satellites, and navigation and communication systems within trustless ecosystems, thereby eliminating the need for intermediaries. By leveraging smart contracts, the network empowers frequency control and timing solutions for a diverse range of devices, including wireless controls, smart power grids, aviation systems, and various other applications. As outlined in its white paper, Rakon’s overarching vision is to “foster transparent information flow and facilitate efficient collaboration.”
RKN is the native token that fuels the Rakon ecosystem, empowering the seamless execution of smart contracts within its network.
Rakon is slated to debut in the fourth quarter of 2020, marking a significant milestone in its development journey.
The Visionaries Behind Rakon: Meet the Founders
Rakon was born out of a visionary endeavour by Orbit Network Inc. through its subsidiary, Blockchain Development Inc. The project’s genesis dates back to the third quarter of 2018, with its official launch slated for the fourth quarter of 2020.
Orbit Network pioneers innovative products that harness the power of blockchain technology and smart contracts, striving to enhance usability and propel widespread adoption of enterprise blockchain solutions globally. The company is also the driving force behind other notable cryptocurrency initiatives, including Sports and Leisure (SNL), a token pegged to Ether (ETH) that aims to converge the traditional and digital sports and leisure industries, and New York Exchange (NYE), which seeks to establish a seamless nexus between traditional stock and commodity trading and cryptocurrency markets.
At the heart of the Orbit Network lies Orbitex, a cutting-edge platform designed to facilitate seamless trading of both conventional and cryptocurrency assets.
Unveiling the Unparalleled Excellence of Rakon
Rakon is dedicated to seamlessly integrating blockchain-based, smart contract systems into industries that heavily rely on cutting-edge emerging technologies. At the core of its revenue model lies the ambition to establish itself as a premier solution provider for various fields, including global positioning systems (GPS), telecommunications, defense, space, and the Internet of Things, among others. Notably, Rakon is particularly focused on harnessing the potential of smart contracts to revolutionize frequency control and timing solutions.
Upon its launch, Rakon’s inaugural use case is anticipated to emerge in the telecommunications sector, where Orbit Network has announced, as of August 2020, a partnership with firms in the United States, Canada, India, Turkey, and the United Kingdom. This collaboration will enable users to recharge their mobile phones using RKN. Furthermore, the company has declared that RKN will serve as the exclusive digital asset of its Orbit Network Chain Server.
Rakon also envisions that cryptocurrency investors will perceive RKN as a promising investment opportunity, thereby driving growth through their informed purchasing decisions.
The Circulating Supply of Rakon (RKN) Coins: An Overview
Rakon boasts a capped maximum supply of 285,714,286 tokens. The initial coin offering, which commenced in April 2019, enabled the exchange of ETH for RKN, with a minimum transaction threshold of 1 ETH. Furthermore, the project has announced that users will have the opportunity to earn RKN by promoting the platform on social media and other online platforms.
As outlined in its white paper, Rakon has devised a comprehensive token distribution plan, allocating 85% of tokens, with a forthcoming updated white paper detailing the specifics. Furthermore, network fees will be disbursed to RKN tokenholders on a quarterly basis, proportionally distributed according to their holdings.
The Rakon Network’s Robust Security Framework
RKN is an ERC-20 token, which means it leverages the Ethereum blockchain network to facilitate the verification and processing of its transactions. Notably, Ethereum employs a proof-of-work consensus algorithm, wherein miners engage in a competitive process to add new blocks to the blockchain, and a majority of nodes within the network must validate a record for it to be officially recorded.
Notably, while RKN transactions are inherently secure, being anchored to the decentralized Ethereum blockchain, the ERC-20 contract governing the token on Ethereum is ultimately controlled by its issuer. Consequently, the safeguarding of user funds also falls under the purview of Rakon’s founding entity, Orbit Network. According to the company’s website, it exercises meticulous due diligence and adheres to stringent protocols to ensure the impregnability of its information systems.
Where to Acquire Rakon (RKN): A Comprehensive Guide
Rakon is presently listed on several smaller cryptocurrency exchanges, notably Cat.Ex, CREX24, ProBit, and STEX, where it can be traded against Ethereum (ETH) and the stablecoin Tether (USDT).
Are you intrigued by the prospect of acquiring RKN or other prominent cryptocurrencies like Bitcoin (BTC)? CoinMarketCap offers a straightforward, step-by-step guide, expertly designed to educate you on the intricacies of crypto and facilitate your inaugural coin purchase.
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