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RAKON

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Discover RAKON's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is RAKON?

Rakon (RKN) is a blockchain-based network that connects infrastructure, satellites, and navigation systems in a trustless ecosystem. It uses smart contracts to power frequency control and timing solutions for various applications, aiming to enable transparent information flow and efficient collaboration. The native token, RKN, is used to execute smart contracts and has various use cases, including incentivizing users and facilitating transactions within the network.

How is RAKON used?

Rakon (RKN) is a blockchain-based cryptocurrency designed to facilitate trustless ecosystems, particularly in infrastructure, satellites, and navigation systems. Here are some key use cases for RKN tokens:

  1. Payment for Transaction Fees: RKN tokens are used to pay for transaction fees within the Rakon ecosystem, ensuring the smooth operation of the network.

  2. Governance Votes: RKN tokens give holders the ability to participate in governance votes, allowing them to have a say in the future development of the project.

  3. Exclusive Features: RKN tokens grant access to exclusive features within the Rakon ecosystem, enhancing the user experience.

  1. Telecommunications: RKN tokens can be used to top up mobile phones for certain mobile operators in the United States, India, Turkey, Canada, and the United Kingdom.

  2. Incentivizing Users: RKN tokens are used to incentivize users who contribute to the protocol, such as by promoting the project on social media.

  3. Investment: RKN tokens can be used for short and long positions, making them a viable investment option. However, it is essential to research the token's price volatility before making an investment decision.

These use cases highlight the versatility and utility of RKN tokens within the Rakon ecosystem.

How do I store RAKON?

To store RAKON (RKN) tokens, you can use the Atomic Wallet, which supports over 1,000 coins and tokens, including Rakon. This wallet is available for both desktop and mobile devices and is trusted by 5 million users worldwide. It offers several benefits, including:

  • Private: No registration or KYC is required to use the app, ensuring your data remains private.
  • Secured: Your private keys are encrypted and never leave your device, giving you full control over your funds.
  • 24/7 Online Support: Fast support is available through live chat and email for any issues you may encounter.

How to buy RAKON?

To buy Rakon (RKN) tokens, follow these steps:

  1. Choose a Crypto Wallet:

    • Select a reliable crypto wallet that supports your preferred payment method and policies. Popular options include Coinbase Wallet, MetaMask, and TrustWallet.
    • Consider the type of wallet you need: hot wallets for frequent trading or cold wallets for long-term, secure storage.
  2. Set up Your Wallet:

    • Create an account by providing personal information and a strong password.
    • Note down your Secret Recovery Phrase or Seed Words carefully, as they are crucial for wallet recovery.
  3. Buy a Base Currency:

  • Choose a cryptocurrency exchange platform and purchase a base currency like Bitcoin, Ethereum, or Tether.
  • Be cautious of market trends, trading fees, and crypto taxes, especially for new traders.
  1. Transfer Funds to Your Wallet:

    • Withdraw your base currency to your crypto wallet by providing your wallet address and the amount to transfer.
  2. Select a Decentralized Exchange (DEX):

    • Choose a DEX that supports your wallet, such as Pancake Swap.
    • Compare trading fees and liquidity to ensure better pricing and tighter spreads.
  3. Buy Rakon (RKN):

  • Connect your wallet to the DEX and select RKN from the list.
  • Enter the amount you want to trade and complete the transaction.
  1. Alternative Methods:
    • You can also buy Rakon instantly with a credit or debit card through platforms like BitDegree, which offers fast and risk-free transactions.
    • Additionally, some platforms like BingX offer ways to get Rakon for free through airdrops, staking, or trade earnings.

Remember to diversify your portfolio and be aware of market risks and volatility.

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History of RAKON

Rakon (RKN) is a cryptocurrency launched in 2019 on the Ethereum platform. It was created to connect infrastructure, satellites, and navigation systems in trustless ecosystems, focusing on highly secured, synchronized, and fast transaction systems. The project's primary objective is to facilitate effective collaboration and transparent information flow for its users.

Initial Coin Offering (ICO)

Rakon's initial coin offering (ICO) took place in April 2019, allowing users to exchange Ethereum (ETH) for RKN tokens. The minimum transaction amount for the ICO was 1 ETH.

Token Distribution and Supply

Rakon has a fixed maximum supply of 285,714,286 tokens. The project has an 85% token distribution plan, which will be detailed in an updated white paper. Network fees are distributed to RKN token holders on a pro-rata basis each quarter.

Security

Rakon is an ERC-20 token, relying on the Ethereum blockchain network for transaction verification and processing. Ethereum uses a proof-of-work consensus algorithm, ensuring the security of user funds. Additionally, Rakon's founding company, Orbit Network, follows strict protocols to maintain information system security.

Trading and Availability

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

Price History

Rakon's price history has been erratic, with significant highs and lows. The token's all-time high (ATH) was $0.7739 in November 2021. As of June 2024, the price stands at $0.09340, with a change of -17.68% in the last 24 hours. Despite this, the token is predicted to increase by 41.78% by the end of 2024.

Use Cases

Rakon tokens have various use cases, including topping up mobile phones in specific countries, serving as an exclusive asset on the Orbit Network, and incentivizing users who contribute to the protocol. Investors can also use the token for short and long positions, though the price is quite volatile.

Founding Company

Rakon is a product of Orbit Network Inc., which was created in 2018 and officially launched in 2020. Orbit Network aims to drive global enterprise blockchain adoption and is also behind other crypto projects like Sports and Leisure (SNL) and Orbitex.

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How RAKON works

Rakon (RKN) is a blockchain-based cryptocurrency that operates on the Ethereum network as an ERC-20 token. Here's a detailed overview of how it works:

Tokenomics

Rakon has a fixed maximum supply of 285,714,286 tokens, with a circulating supply of 242,857,143 RKN. The token distribution plan includes an initial coin offering (ICO) and opportunities to earn RKN through social media promotion and other online platforms.

Security

Rakon relies on the Ethereum blockchain network for transaction verification and processing. Ethereum uses 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, Rakon's founding company Orbit Network, which is responsible for the security of user funds.

Functionality

Rakon aims to connect infrastructure, satellites, and navigation and communication systems in trustless ecosystems without middlemen or intermediaries. It employs smart contracts to power frequency management and timing solutions for devices like smart power grids, wireless controllers, and aviation systems. The major objective is to facilitate effective collaboration and transparent information flow for its users.

Trading

Rakon is listed on several smaller cryptocurrency exchanges, including Cat.Ex, CREX24, ProBit, and STEX, where it can be traded against ETH and the stablecoin Tether (USDT). Users can buy RKN using credit or debit cards, and the buying process is fast and risk-free.

Use Cases

The RKN token serves as the native currency within the Rakon ecosystem, facilitating transactions and incentivizing users to engage with the platform. It can be used for various purposes such as paying for transaction fees, participating in governance votes, and accessing exclusive features.

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RAKON's strengths

The token Rakon (RKN) has several strengths that contribute to its potential value and adoption:

  1. Decentralized Infrastructure: Rakon is a blockchain-driven platform designed to create a decentralized infrastructure for the internet of things (IoT) network, allowing devices to interact in a completely decentralized and distributed manner.

  2. Native Token: RKN plays a crucial role in maintaining and operating the network, which gives it inherent value.

  3. Limited Supply: Rakon has a fixed maximum supply of 285,714,286 tokens, which can help maintain token scarcity and potentially drive up demand.

  1. Ethereum-Based: As an ERC-20 token, Rakon relies on the Ethereum blockchain network for transaction verification and processing, leveraging the security and reliability of the Ethereum network.

  2. Community Engagement: Rakon offers opportunities to earn RKN by promoting it on social media and other internet platforms, fostering community involvement and potential growth.

  3. Diverse Use Cases: The network uses smart contracts to power frequency control and timing solutions for various applications, including wireless controls, smart power grids, and aviation systems, which can lead to a broad range of use cases and adoption.

These strengths collectively contribute to Rakon's potential as a valuable and widely adopted cryptocurrency.

RAKON's risks

Rakon (RKN), a blockchain-driven platform for the internet of things (IoT) network, carries several financial risks. These risks are primarily assessed through various analytical tools and market indicators.

High Risk Score

Rakon has been assigned a high risk score by InvestorsObserver due to recent price volatility and changes in volume and market capitalization. This score indicates that the token is susceptible to significant price manipulation with relatively small amounts of money, making it a high-risk investment.

Supply Chain Concerns

Historically, Rakon has faced significant supply chain risks, which required month-to-month management of raw materials and parts to meet orders. Although the company has made progress in mitigating these challenges, the rapid emergence of the Omicron variant of Covid-19 posed new challenges to production, highlighting the ongoing risks associated with supply chain disruptions.

Market Trends and Adoption

Rakon's price is also influenced by broader market trends and the adoption of cryptocurrencies. As the crypto market continues to evolve, Rakon's value is expected to be impacted by these external factors. For instance, a surge in adoption is anticipated to drive up the price of RKN, while market downturns could negatively affect its value.

Technical Indicators

Technical analysis tools such as moving averages, relative strength index (RSI), and volume indicators are used to predict potential price movements. These indicators can signal overbought or oversold conditions, helping investors make informed decisions about RKN.

Overall, Rakon's financial risks are multifaceted, encompassing both internal supply chain challenges and external market factors. Investors should carefully consider these risks when evaluating RKN as a potential investment opportunity.

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RAKON's ecosystem

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RAKON’s team

  • Dr. Sinan Altug: Chief Executive Officer, overseeing the overall strategy and direction of Rakon.
  • Brent Robinson: Chief Technology Officer, responsible for the technology and innovation behind Rakon.
  • Drew Davies: Chief Financial Officer, managing the financial aspects of the project.
  • Darren Robinson: Chief Marketing Officer, leading sales and marketing efforts.
  • Cliff Hand: General Manager Operations, responsible for the performance of the New Zealand business unit and global strategic initiatives.
  • Arun Parasnis: Managing Director, Rakon India, overseeing all business functions in India.
  • Margo Thomas: General Manager, Global People and Capability, responsible for global Human Resources strategy and policies.

Whalee AI

The fundamental analysis assistant for crypto value investors.

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