Ravencoin

Ravencoin (RVN) is an open-source blockchain project specializing in the creation and peer-to-peer transfer of assets.

What is Ravencoin?

  • Ravencoin is a digital peer-to-peer (P2P) network that focuses on applying a use case specific blockchain designed for the efficient creation, transfer, and management of asset tokens.
  • It is built on the Bitcoin code fork and was released binaries for mining on Jan. 3rd, 2018 with what is called a fair launch: no premine, ICO or masternodes. It’s got the name reference from the TV show Game of Thrones.
  • Ravencoin is under the power of decentralization and mathematics, as it is a fork of Bitcoin. It replaced X16R and X16RV2, using KAWPOW, a proof-of-work mining algorithm.
  • Without pre-mine system, no single individual or organization will be able to create any artificial market price shock. Saying that, Ravencoin is committed to fair distribution.

Key Metrics

TickerRVN
Token NameRavencoin
Token Type/ProtocolRavencoin protocol
Total Token Supply21 billion
Current Circulating Supply See Coinmarketcap
Market CapitalisationSee Coinmarketcap
Token Creation DateJan 3rd 2018
Can it be mined?Yes

Who is behind Ravencoin?

Ravencoin whitepaper was published by Bruce Fenton, Tron Black and Joel Weight, three successful businessmen and developers.
Fenton, former vice president of investment banking, Morgan Stanley, is a well known Bitcoin Foundation’s board members and executive director.

In addition, Tron Black is an experienced principal software developer. He has been working in crypto since 2013 on several ventures, and currently focusing on blockchain technology applications.

Lastly, Weight, a chief technology officer at Overstock.com, is a famous online retailer who has been in roles of COO and CTO of Medici Ventures. 

What is the purpose of Ravencoin?

Ravencoin was created to solve the problem of assets transfer and trading over blockchain using the UTXO architecture but has been upgraded to remove scalability issues.

Insights

  • RVN is a freely traded coin with pairs against stablecoins, such as Tether (USDT), other cryptocurrencies like Bitcoin and Ethereum, and fiat money.
  • Ravencoin (RVN) is a Proof of Work coin built on the Bitcoin UTXO model. As with other Bitcoin derivatives, RVN coins are distributed to persons augmenting the Raven network by mining Raven.
  • Ravencoin’s security system is not only decentralization protected, but also ASIC resistant using 16 different hashing algorithms for each mining block.

Risks

  • On June 3rd 2020, there was a successful hack of Ravencoin blockchain. Hackers could mint a total of i315 million RVN coins which were at the moment estimated at USD $5.7M.
  • Based on comparing developing activity, price analysis and volume with other competitive coins by Ambcrypto, RVN was mentioned for its lack of actual backing value causing price fluctuation.

News and Updates

  • Without the need of smart contract, users can use Ravencoin protocol easily resulting in its surpassed a remarkable one billion dollar market cap that was announced on March, 2021
  • Ravencoin has declared that its protocol is entirely governed by node runners and miners with 2 primary use cases as follows;
    • Transferring ownership of an item
    • Simplify shareholder voting

Community & Whitepaper Links:

Disclaimer:  
All investments are speculative and involve substantial risk and uncertainty. Investors should understand the nature of digital assets including the terms of return and the risk of assets. We encourage investors to fully understand the assets and the risk associated with them prior to making any investment.  

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