Ravencoin (RVN) is a blockchain platform project optimized for the transfer of assets through a P2P network. The Ravencoin network is inspired by the fictional world of Westeros. Crows are often used in this world to spread the truth. The way Revencoin works is similar; it also spreads the truth on blockchain platform to block holders.
Ravencoin is built by developers on top of Bitcoin’s UTXO model – a widely used protocol. Ravencoin’s source code is completely open; all RVN coins are issued and mined openly and transparently using PoW, the mining algorithm used is X16R. Similar to Ethereum, RVN has no separate organization, individual or owner.
The technology of the RavenCoin project was perfected on the 9th birthday of Bitcoin, but it was not until January 3, 2018 that the development team debuted. The Ravencoin project also does not do ICOs, masternodes or airdrops.
The purpose of the RavenCoin project
The Ravencoin project was created with privacy, security and user control in mind. Raven is an open source code to use and develop in any scope, allowing simple addition of features based on user needs.
Coin Raven is designed to efficiently handle a specific function, which is the transfer of assets. The purpose of the Raven protocol is to create a blockchain use case and work on its development. This means that if other blockchains are too multitasking, then with Raven, it will only optimize for a specific type of feature and evolve it to the highest level. Users can build separate tokens on RVN’s blockchain (similar to Ethereum).
Ravencoin project development team
The Ravencoin project has no established development team and team members are anonymous. This is an open source project led by the main developers, RavoncoinDev, Tron and Chatturga (only Discord username, not real name). Bruce Fenton – Bitcoin Foundation board member, is one of the advisory members for the Ravencoin team.
In addition, Ravencoin is also invested millions of USD by Patrick Byrne – CEO of Overstock. Overstock is one of the leading US companies in the retail e-commerce industry and the first merchant to accept BTC payments. According to Byrne, Ravencoin is “futuristic” and is 1,000 times more energy efficient than Bitcoin, and is ASIC resistant. Byrne said that Overstock has invested millions of dollars in the Ravencoin development team, confidently asserting that “this coin really has a future.”
While most blockchain projects try to promise the world, Ravencoin offers only one thing: tokenized asset transfers. And that single focus isn’t a bad thing. When projects try to solve a bunch of problems at once, they often create a series of half-baked solutions. Ravencoin is avoiding that.
As a young project with seemingly endless competition, it is difficult to predict how successful Ravencoin will be. However, an active community and backing from one of the most respected names in online retail are positive signs. There is a clear trend towards the tokenization of all asset classes. However, we still don’t know if Ravencoin will lead that change.
You can see RVN prices here.
According to AZCoin News
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