RKN meaning in Cryptocurrency ?

Answer:

What Is Rakon (RKN)?

Rakon is a blockchain-based network that is designed to connect infrastructure, satellites and navigation and communication systems in trustless ecosystems that do not depend on middlemen or intermediaries. The network uses smart contracts to power frequency control and timing solutions for devices such as wireless controls, smart power grids, aviation systems and other applications. According to its white paper, the vision of Rakon is to "enable transparent information flow and efficient collaboration."

RKN is the token that powers the activities of the Rakon ecosystem. It is used as "fuel" to execute the smart contracts that operate on its network.

Rakon is expected to launch in the fourth quarter of 2020.

Who Are the Founders of Rakon?

Rakon was created by Orbit Network Inc. through its subsidiary Blockchain Development Inc. The project was first conceived in the third quarter of 2018, and it is expected to officially launch in the fourth quarter of 2020.

Orbit Network develops products that use blockchain technology and smart contracts, with the intention of increasing usability and driving global enterprise blockchain adoption. The company is behind other cryptocurrency projects, including Sports and Leisure (SNL), a token pegged to Ether (ETH) and designed to connect the traditional and digital sports and leisure industries, and New York Exchange (NYE), which seeks to bridge traditional stock and commodity trading with cryptocurrency trading.

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

What Makes Rakon Unique?

Rakon is focused on integrating blockchain-based, smart contract systems into industries that rely on highly advanced emerging technologies. Its revenue model is centered around establishing itself as a go-to solution for fields of global positioning systems — otherwise known as GPS — telecommunications, defense, space, the Internet of Things and others. It is particularly focused on integrating smart contracts into frequency control and timing solutions.

Following its launch, Rakon's first use case is expected to be in the telecommunications sector, with Orbit Network announcing in August 2020 that it will be partnering with firms in the United States, Canada, India, Turkey and the United Kingdom to allow users to top up their mobile phones using RKN. The company also stated that RKN will serve as the exclusive asset of its Orbit Network Chain Server.

Rakon also anticipates that cryptocurrency investors will see RKN as having growth potential, further supporting the project through their purchasing decisions.

reference

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