RAKON Price Chart Update [RKN]

RAKON (RKN) Overview

RAKON is an innovative network that aims to connect infrastructure, satellites, and navigation and communication systems in trustless ecosystems without intermediaries. The network utilizes smart contracts to power frequency control and timing solutions for various applications, including wireless controls, smart power grids, and aviation systems. The vision of RAKON is to enable transparent information flow and efficient collaboration.

RKN is the token that fuels the activities within the RAKON ecosystem. It serves as the "fuel" for executing smart contracts on the network.

RAKON is set to launch in the fourth quarter of 2020.

RAKON Founders

RAKON was created by Orbit Network Inc. through its subsidiary Blockchain Development Inc. The project was initially conceptualized in the third quarter of 2018 and is scheduled for an official launch in the fourth quarter of 2020.

Orbit Network specializes in developing blockchain technology and smart contract-based products to enhance usability and drive global enterprise blockchain adoption. The company is also behind other cryptocurrency projects such as Sports and Leisure (SNL) and New York Exchange (NYE), which aim to bridge traditional industries with the digital realm.

Orbit Network operates Orbitex, a platform for trading both traditional and crypto assets.

RAKON Unique Features

RAKON stands out by integrating blockchain-based smart contract systems into industries that rely on advanced emerging technologies. Its revenue model revolves around becoming a go-to solution for fields such as global positioning systems (GPS), telecommunications, defense, space, and the Internet of Things. The project particularly focuses on integrating smart contracts into frequency control and timing solutions.

Upon its launch, RAKON's initial use case will be in the telecommunications sector. Orbit Network announced partnerships with firms in the United States, Canada, India, Turkey, and the United Kingdom to enable users to top up their mobile phones using RKN. RKN will also serve as the exclusive asset of its Orbit Network Chain Server.

RAKON anticipates that cryptocurrency investors will recognize the growth potential of RKN and support the project through their purchasing decisions.

RAKON (RKN) Coin Circulation

RAKON has a fixed maximum supply of 285,714,286 tokens. RKN was initially available for purchase through an initial coin offering (ICO) that started in April 2019, with a minimum transaction amount of 1 ETH. The project also plans to reward users with RKN for promoting it on social media and other internet platforms.

According to its white paper, RAKON has an 85% token distribution plan, which will be detailed in an updated white paper. Network fees will be distributed to RKN tokenholders on a pro rata basis each quarter.

RAKON Network Security

RKN is an ERC-20 token, relying on the Ethereum blockchain network for transaction verification and processing. Ethereum utilizes a proof-of-work consensus algorithm, where miners compete to add new blocks to the blockchain, and a majority of network nodes must confirm a record for it to be posted.

While RKN transactions are secured by the decentralized Ethereum blockchain, the token's ERC-20 contract on Ethereum is controlled by its issuer, Orbit Network. Therefore, the security of user funds is the responsibility of Orbit Network, which follows strict protocols to ensure information system security.

Where to Buy RAKON (RKN)

RAKON is listed on several smaller cryptocurrency exchanges, including Cat.Ex, CREX24, ProBit, and STEX. It can be traded against ETH and the stablecoin Tether (USDT).

If you're interested in buying RKN or other cryptocurrencies like Bitcoin (BTC), CoinMarketCap provides a simple, step-by-step guide to help you get started.