What is Raven Protocol? In-depth Analysis of Raven Protocol & RAVEN

I. What is Raven Protocol?

Raven Protocol is a decentralized and distributed deep learning training protocol built on the blockchain. It aims to democratize and make artificial intelligence (AI) training more accessible and affordable by utilizing a network of distributed nodes.

II. History of Raven Protocol

The history of Raven Protocol dates back to its founding in 2018. The project was initiated by a team of AI and blockchain experts with the goal of addressing the challenges and limitations of traditional AI training. The team recognized the high cost and centralization of AI training infrastructure and sought to create a decentralized solution that could make AI more inclusive.

III. Striking Features of Raven Protocol

Decentralized Training: Raven Protocol utilizes blockchain technology to distribute AI training across a network of nodes, removing the need for centralized infrastructure. This allows for greater scalability and accessibility in AI training.

Cost Efficiency: By leveraging a decentralized network, Raven Protocol aims to reduce the costs associated with AI training. This can make AI more accessible to a wider range of users, including individuals and small businesses.

Privacy and Data Security: Raven Protocol prioritizes data privacy and security by using encryption techniques and decentralized storage. This ensures that sensitive data used in AI training remains secure and private.

IV. Core Technology of Raven Protocol 

V. What is RAVEN?

1. Detailed Information about RAVEN

RAVEN Token is Utility Token. It is used as an incentive to promote all of the above, within the Raven Protocol network to contribute and act. RAVEN Token belongs to the BEP2 Token category on Binance Chain. This is also one of the first Tokens issued on Binance Chain.

• Ticker: RAVEN
• Blockchain: Binance Chain
• Token Standard: BEP2
• Initial Owner: bnb1vdjhrkgvt4y76ykyvrvh68pzqg3lvv0y5yfxyf
• Token type: Utility Token
• Asset Name: RAVEN-F66 (on Binance Chain)
• Total Supply: 10,000,000,000 RAVEN
• Circulating Supply: 0 RAVEN Token (the token has not been officially sold, so there is no circulation).

2. RAVEN Allocation

3. Use Cases of RAVEN

RAVEN serves the following functions inside the Raven Protocol ecosystem as a Utility Token:

When an AI developer wants to do network training, they must send RAVEN Token into a smart contract.

When contributors offer the necessary gear (computers, smartphones, etc.) to act as network nodes, they are rewarded with RAVEN Tokens. successfully finish the transaction and the smart contract execution.

Additionally, RAVEN Token must be used by contributors to complete AI training.

In the Raven Protocol ecosystem, the RAVEN Token can also be used to access other services like data collecting and annotation.

VI. How to earn & own RAVEN?

You can own RAVEN Token by buying directly on IDO of Binance DEX. If you do not participate in buying this IDO phase, you can wait for it to be listed and then buy. In addition, you can become Contributors to receive RAVEN Token Rewards.

VII. Which Crypto Wallets are suitable for RAVEN?

You can store RAVEN Token right on exchanges that allow this Token to be traded. The first is the wallet on Binance DEX. In addition, RAVEN Token is the BEP2 Token on Binance Chain. So this Token can be stored on wallets that support Binance Chain such as Trust Wallet, Ledger Nano…

VIII. RAVEN Recent Developments

In their proposal to Binance DEX, Raven Protocol states that they want to participate in the $1.2 trillion AI technology market. Team Dev is only now beginning to penetrate this sector.

Going back to the users and participants, we can see that this token is utilized as a utility token within the Raven Protocol ecosystem. Its primary goals are to reward users and cover the cost of using services.

As the demand for Deep Learning and AI training rises, so will the buying and selling demand for RAVEN Token. To find out what they will accomplish and what they can do once they are formally put into operation, we must wait till the future.

IX. Teams, Funds & Partners of RAVEN

1. Team

2. Investment Funds & Partners
updating…

Conclusion

The above is Waytrade’s comment on the Raven Protocol project which is our personal opinion, this is not investment advice at all. Investors should be responsible for their own decisions. 

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