Raks (the name of the cryptocurrency) is currently the 2nd major cryptocurrency to come to market. The first had an impressive market cap reaching over $20 billion or about $500 billion compared to Bitcoin’s value of about $14 billion.
Raks, which uses an ERC20 token (see: here), is created using the Ethereum platform, using the Smart Contracts language developed in this same platform.
How is it different from Bitcoin?
Since it is using an ERC20 token, Raks is able to keep a greater portion of the network and users tokens. At the time of launch, Raks offers a lower fee than Bitcoin as well as a reduced risk of theft because the network will have a greater number of validators.
To summarize a bit, you can choose to use Raks to buy an amount of Bitcoin or a transaction fee. The difference in market value will be equal to the difference that Raks and Bitcoin will have in a given hour, assuming you would make a profit from your transaction by any other means.
Does the price of Raks fluctuate from day to day?
It would likely not, as the network is open to new users for about 2 weeks, which allows anyone on the network to contribute to the network. In other words, there is no need to pre-purchase a high volume of coins.
One caveat worth mentioning is that this network does in fact run on Ether (ETH). This is a unique way for cryptocurrencies to work because it allows for an instant “money in, money out” system, without the need of a centralized bank.
An Open Letter to the President of the United States
Dear President Obama,
I am submitting this open letter to raise a question: If you are serious about combating terrorism, why do you refuse to designate the Islamic State or other terrorist groups such as Al Qaeda and the Taliban as terrorist organizations? Why do you keep them on the list by not including them in the list of “domestic security threats”?
At least you should consider including the Islamic State — or, in your mind, “the Islamic State” — in the list of groups considered “domestic security threats.” I’m just asking. I’m concerned about the effects of these terrorist groups’ violent actions on American civilians, and the impact of their actions on their communities.
It is a violation for any American President to refuse to include these groups on a list of “domestic security
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