Introduction
Ravencoin is a blockchain-based open-source project designed to enable instant payments to anyone, anywhere in the world. It’s a mineable coin with a total supply of twenty-one billion coins. The Ravencoin project has multiple goals it wants to achieve in the future. Programmable assets and advanced smart contracts are one of the main goals of Ravencoin. The unique selling point of Ravencoin is its focus on asset transfer as well as its focus on keeping fees small and building an infrastructure to manage assets by communicating with both humans and machines in different languages with different syntaxes across multiple protocols.
Ravencoin is a blockchain-based open-source project designed to enable instant payments to anyone, anywhere in the world.
Ravencoin is a blockchain-based open-source project designed to enable instant payments to anyone, anywhere in the world. It uses a unique, bitcoin like method to achieve this goal through decentralized support from users and miners.
It is a fork of the bitcoin code with some added features that were missing from the original protocol, including:
- A maximum twenty-one billion coins (no “halving”)
- Eight second block time (instead of 10 minutes)
In the world of cryptocurrency, there are constantly new projects coming up and trying to show their potential to the crypto community.
Ravencoin is one of these. It is a project that has been created with the aim of bringing a completely decentralized platform for token creation and transfer.
Ravencoin (RVN) aims at facilitating peer-to-peer transactions between two parties without any third-party involvement or control.
Ravencoin was launched on January 3rd, 2018. The Ravencoin team, consisting of Bruce Fenton and Tron Black among others, launched Ravencoin on the Bitcoin blockchain. While you can trade a limited number of cryptocurrencies such as Bitcoin, Ethereum and Litecoin for other cryptocurrencies at cryptocurrency exchanges like Coinbase or Binance, these exchanges do not allow you to purchase tokens with fiat currency (e.g., US dollars). This means that if you want to buy coins from an exchange like Binance or Coinbase then you must first purchase bitcoin or ethers using another form of payment like credit card or bank account transfer before purchasing your new token on the exchange’s website using your newly acquired bitcoins/ethers as payment method.
The Ravencoin network is built on a fork of the bitcoin code.
In addition to being a fork of the Bitcoin code, Ravencoin is also a PoW coin. It launched on January 3rd, 2018 and uses an X16R algorithm for mining. The team has stated that they will not change this algorithm from its current form unless there is an overwhelming consensus from the community to do so. The total supply of Ravencoin will be twenty-one billion coins, with no additional issuance after that date.
It is a Proof-of-Work coin that uses the X16R algorithm for mining.
Ravencoin is a Proof-of-Work (PoW) coin that uses the X16R algorithm for mining. The X16R algorithm utilizes sixteen different algorithms, making it ASIC resistant and CPU and GPU friendly. This makes Ravencoin one of the few coins that can be mined using CPU power alone. However, unlike most distributed consensus algorithms (such as Ethereum’s Ethash), Ravencoin is memory intensive and requires considerable amounts of RAM to mine efficiently.
Ravencoin is a mineable coin with a total supply of twenty-one billion coins.
Ravencoin is a mineable coin with a total supply of twenty-one billion coins. The total supply was reached in the first year and it was mined at a block reward of fifty thousand coins per block.
During the first year, 21 million RVN coins were mined by individuals using their computer hardware to solve mathematical calculations (mining). After this period has elapsed, miners receive 4500 RVN per block when they are successfully able to solve these problems (or “hashes”), which take approximately 10 minutes each to complete.
Block reward halves every 840,000 blocks and will continue until all twenty-one billion are in circulation. This process takes approximately 50 years according to Ravencoin’s white paper published by Tron Black back in January 2019; however, this can vary based on network hashrate or difficulty adjustments made by miners as well as other factors external from Ravencoin itself such as Bitcoin’s block rewards halving schedule being modified recently from 2020-2021 back into 2022 now due to increased interest from developers since it remains one of top digital currencies despite recent price declines – although there could always be changes again depending on how things play out between now and then.*
The Ravencoin project has multiple goals it wants to achieve in the future.
The Ravencoin project has multiple goals it wants to achieve in the future. Some of them are:
- Programmable assets — Assets can be programmable and can represent any form of value, such as bonds, IOUs, stocks/shares, property deeds, etc.
- Advanced smart contracts — The platform supports advanced smart contracts that allow for much more complex agreements than Bitcoin’s Simple Payment Verification (SPV) model allows for.
- Asset transfer — Digital assets can be transferred through sending to a public address or using a QR code from your mobile phone wallet app (e.g., Mycelium).
- Security — The blockchain uses X16R algorithm which combines 16 different hashing algorithms for mining blocks at different times rather than only one at one time like BTC does now; this approach is considered more ASIC-resistant because ASICs cannot be designed specifically to mine each algorithm simultaneously; instead they need to work on one at a time sequentially which makes them less efficient when compared against X16R miners which would be able to switch between algorithms automatically depending on current profitability conditions while mining new blocks all at once (X16R works on the principle of ‘one block per minute’). This makes Ravencoin resistant against 51% attacks by making it more difficult for malicious actors trying controlling over half its hashpower with specialized equipment like ASIC specialized chipsets designed specifically towards Bitcoin mining purposes because they may not work effectively under certain conditions where some algorithms used together might become more profitable than others due to changing prices fluctuating within minutes rather than days or weeks without having enough time between switches after each shift occurs during normal operation periods such as before/after weekends tenders
Programmable assets and advanced smart contracts are one of the main goals of Ravencoin.
Ravencoin is a project that focuses on the transfer of assets between users. It aims to provide a platform where developers can build and execute smart contracts, which are self-executing applications that run exactly as programmed without any possibility of downtime, censorship, fraud, or third-party interference.
Smart contract protocols are agreements written in code that allow people to conduct transactions over a blockchain network
Ravencoin’s main goal is to be a programmable asset platform for building advanced smart contracts. Ravencoin wants to make it possible for developers who know nothing about blockchain technology to create their own cryptocurrencies within the Ravencoin ecosystem by providing them with standard tools and libraries that are easy enough for anyone who has used programming in any language before (such as Python) can use successfully.
These tools include:
- A language called RaveScript (based on Python 3) which allows users who do not understand how blockchains work at all to create their own cryptocurrency without having any prior knowledge in programming whatsoever;
- Standard library functions like “send_to_address” which makes sending money easy;
- Useful libraries such as sha256d (for hashing), ripemd160 (for hashing), etc.;
The Ravencoin team aims to develop a blockchain that’s focused on asset transfer while being ASIC resistant and secure by utilizing an active development team, an engaged community, and a robust roadmap.
The vision for the Ravencoin project is to create a financial system where all people can access fair financial services from their peers or from businesses that are accountable to the network. The goal of this is to bring decentralization back into the financial world, so that no central authority controls who uses what currency for what purpose or how much data you have about yourself on your computer (or phone).
The unique selling point of Ravencoin is its focus on asset transfer as well as its focus on keeping fees small and building an infrastructure to manage assets by communicating with both humans and machines in different languages with different syntaxes across multiple protocols.
Ravencoin is a unique hybrid of bitcoin and ethereum. It has a unique focus on asset transfer, as well as a unique focus on keeping fees low and building an infrastructure to manage assets. With that said, let’s dive deeper into the specifics of this project so you can understand how it works better!
The history of raven coin dates to January 3rd, 2018, when it had its initial coin offering (ICO).
Raven Coin was first listed on coinmarketcap.com on January 3rd, 2018, with its ICO price at $0.01 per token. At the time of drafting this article, the coin had a circulating supply of 6,685,814 out of a total supply of one hundred million tokens. The total supply is expected to reach one billion tokens by 2020 as announced by their official website ravencoin.org
The initial market capitalization was $2 million USD which increased significantly after hitting exchanges due to high demand from investors who wanted exposure to utility coins while avoiding regulatory issues relating to securities laws related to securities tokens (STO).
Price of raven coin
The price of Ravencoin (RVN) is currently $0.001905 USD, which makes it the sixth most valuable digital currency by market cap after Litecoin and Bitcoin SV. The coin has been rising steadily since its launch in January 2019, with a few minor bumps along the way.
In terms of volume and liquidity, RVN performed much better than many other cryptocurrencies during times when their value fell significantly due to market crashes caused by bearish sentiments surrounding security breaches and hacks on exchanges like Binance or Bitfinex. The coin was also used as a hedge against BTC during periods when bitcoin’s price continued falling after reaching new lows at around $3200 per unit in December 2018 (after breaking through its previous all-time high at around $20k per unit).
Conclusion
The Ravencoin team aims to develop a blockchain that’s focused on asset transfer while being ASIC resistant and secure by utilizing an active development team, an engaged community, and a robust roadmap. The unique selling point of Ravencoin is its focus on asset transfer as well as its focus on keeping fees small and building an infrastructure to manage assets by communicating with both humans and machines in different languages with different syntaxes across multiple protocols.