Official Website: https://ravencoin.org/
Unlike network’s such as Ethereum (ETH) and Neo (NEO) who some may argue are trying to launch themselves as the new ‘world computer’, or even gatekeeper for the ‘Internet of Things’, Ravencoin and its blockchain aim to separate themselves by deliberately limiting their protocol’s application use case. These networks attach assets to their primary blockchain which does add security, though on the contrast, can result in high transaction fees and doesn’t protect users against other regular asset transfer network issues.
Ravencoin is a peer-to-peer network that aims specifically at verifying and enabling the transfers of assets through their application-focused blockchain. For example, there are four main areas to consider when acknowledging the differences between the transfer dedicated Ravencoin protocol and the Bitcoin protocol:
Scheduled mining reward: When launched, the RVN mining reward started at 5,000 RVN, while Bitcoin (BTC) start with 50 BTC.
Block creation time: Block’s on the RVN network are created at 1 tenth of Bitcoins, at just one minute.
Circulating coin supply: There will be 21 billion RVN in circulation compared to the 21 million BTC
Protocol algorithm: The BTC protocol uses the SHA-256 algorithm while RVN uses X16Rv2.
A circulating supply of 21 bil RVN will enhance its usability as satoshi’s of a coin will not be necessary in most instances. What’s more, while almost all blockchain related projects initiated from their initial coin offering (ICO), Ravencoin did not. The company started with no pre-mining volume nor do any of the founders hold any RVN.
The Ravencoin (RVN) Team has no corporate structure or governing leadership. It establishes itself as a completely decentralised open-source network. Ravencoin is largely community driven and is a true and transparent open-source organisation.
When Ravencoin began, the core team was funded by Medici Ventures. The project’s launch was announced by Bruce Fenton, one of the blockchain advisers who helped conceptualise the project. Fenton is a long-term Bitcoin activist and participant and has invested in numerous early crypto start-ups. He is also a board member for many blockchain firms, as well as the executive director of the Bitcoin Foundation and the Bitcoin Association. He also worked previously as an adviser to the Bill and Melinda Gates Foundation.
Tron Black is one of the other founding blockchain advisers at Ravencoin. Tron has been working in the crypto space since 2013 as an early miner, investor and engineer. He is also currently one of the Principal Developers at Medici Ventures which helps fund numerous companies including TZero, Chainstone Labs and Spera.
Though RVN does not have an established Team, there are a multiple of key players contributing to the project’s development. Two of their central advisers, investors and researchers are Ivan Jolicic and Peter Nikic. Founder of FitTechHosting.com, Johnathan Martin is also the Cloud Application Developer at Ravencoin.
• The Ravencoin (RVN) project development was launched as a Bitcoin fork on October 31st 2017 – the ninth anniversary of Bitcoin. The announcement was made at MIT, during the Texas Bitcoin Conference.
• Ravencoin network goes live on January 3rd, 2018 as they undergo CPU and GPU verification towards their Proof-of-Work mining ecosystem.
• ASIC (application-specific integrated circuit) implementation commitment is published and developed for x16R (v2).
• Successful Asset Transfers: Ravencoin (RVN) users with be allowed to issue, reissue and transfer their assets via the network. The RVN used to distribute assets will be deposited to a wallet burn address which in turn, will reduce the amount of RVN in circulation.
Phase 3 & 4
• Token MetaData can now be stored. All holders of an asset can now receive payment in RVN.
• The Ravencoin Netwwork will increase the blocksize from 2 MB to X MB, enabling more transactions on the blockchain.
Phase 5 & 6: Messaging & Voting
• Network participants will have the authority to ‘broadcast’ a message to token holders
• Tokens can be used to represent a vote through its distribution system. Tokens will be deposited to RVN wallet addresses to record a vote.
Phase 7 & 8: Compatibility and Mobile Wallets
• Newly created assets can easily integrate into exchanges, blockchain explorers and wallets.
RavenCoin (RVN) supports its own native official desktop wallet on Linux, Windows and MacOS. This was created by the RVN team and is free to download on their official website. Ravencoin developers also built their own mobile wallet called ‘Light Client’ with the same technical descriptions that apply to the Desktop Wallet. Light Client also achieves the same high level of security, as well as responsive to regularly published updates.
An alternative trusted wallet provider for your RVN token could be Trust Wallet – a multi-currency mobile wallet that enables users to simultaneously store a variety of digital assets in one place. Another popular multi-coin wallet is Exodus. You can store your RVN coin in their desktop version as well as their iOS and Android smartphone versions. Exodus is a free and user-friendly platform and can be downloaded from their own official website in minutes.
Leading hardware wallet provider Ledger is another option for RavenCoin holders. You must connect a Ledger Nano X to the Electrum-RVN client. Users would need to activate their Ledger Nano X hardware wallet, as well as having installed already the Ravencoin app on your Ledger Device.
You can Buy & Sell Ravencoin (RVN) by heading over to the Buy Coins page of our website. RavenCoin (RVN) is available on BC Bitcoin trading against major fiat currencies: GBP and EUR. Buying RavenCoin (RVN) has never been easier, simply place your order and provide your wallet address. Once your payment arrives RVN will be sent directly to your wallet. If you choose to Sell RavenCoin (RVN) you can send us the coins and receive a payment to your bank account. Details and valuation can be found on the ‘Sell Coins’ page.
Disclaimer: The information provided in this article is intended for informational purposes only. It is the readers responsibility to complete their own research and due diligence.